The Montgomery advertiser., 1908-09-26
THE STOCK MARKET

New York. Sept. 25-Professional come to practical agreement in call ing 1t Standard oil market The at- tention of this speculative element was wholly centered today on efforts to de- were doing. This was because of the conviction that the market is under the control of combination of capitalists having affiliations with the Standard oil Company. The followers of the speculation had to be nimble to fol- low the contradictory evidences of what these millionaire operators might be doing: The most simple method Pacific when that stock advanced pur- chases were made either of that or other stocks. There was close obser- vation of the operation of members of the firms supposed to be employed m the interest of the dominant group. The difficulties of forming accurate conclusions from this rough method of deduction Is obvious. As a matter of state of hesitation and unsettlement throughout the session. Open selling of large amounts of Union Pacific, Southern Pacific and Reading by the yesterday broke prices from the brisk early advance. The openness of this swing then came under suspicion and the market fiuctuated under this doubt.
  time into other stocks but without con elusive effect on the market. The Hill stocks made an aggressive advance without any news to account for 1t. Reports unconfirmed said that Rock Island had secured needed supplies or capital. There was a movement in the metal and mining stocks In concert. The marking up Of the price o1 copper at the metal exchange had some bear ing on this movement. Indeed, the whole market was affected by this in- cident owing to the close correspon- dence there has been between the speculative movement Of stocks and the price of copper feor some time past. Copper warrants were higher in Lon don also. Westinghouse electric had the benefit of the report that re-or. resort to the ba ankruptcy court. Little impression was made by the estimates of a considerable decline in bank cash for the week. When the stock market was disturbed early in the week, New York exchange at Chicago rose to a sharp premium, supposed to be caused by remittances from that center due to stock market exigencies. The banks amount however. from excess of ship ments over receipts on the interior cur rency movement. The { sub-treasury 146. 900 in cash. A s200,000 shipment of gold coin to Canada Is to be includ- ed in the estimate and $1.000.000 shipment made last Saturday did not figure in last Saturdays statement of the clearing house institutions. A de- cline of over SC, 000, ,000 in the cash item, therefore would not surprise the bank ing world. The weeks liquidation at the stock exchange should operate to reduce the loan item. The selling of stocks, however, was matched by the buying an dthese cross-currents al- ways make the effect on the loan item The rise in the exports of wheat and flour for the week amounts to the largest total of the season con- firmed earlier reports of the effect of the Russian cholera situation. There was supplementary repo. ts of further heavy buying for exports today. The effect of this on the exchange market is modified by the influence of the English cotton mills put down on the supply of cotton bills. Notwithstand- ing strong demonstrations at new points in the market. the uncertain sentiment remained unaltered at the close. Bonds were firm; total sales par value, $3,772,000. United States bonds were unchanged on call.
 CLOSING STOCK LIST