The Montgomery advertiser., 1908-12-18
THE STOCK MARKET

-
 New York. Dec. 17.--There was the shsrpest break is. prices of stocks to- day that has Sceurred .since the SO called eieettsE scare following the s ssi1s hslaisRs VI @ers ssptsS%Ss sSassn out of their w1akened position and thrown on the market at rates of concession that Esvs an sPpsarsnss of ssl1nsl.aS. e. feature of the market was not the vol. tune of the Hauidations which was not unusually heavy, as 1t witnessed by but the total absndonmsnt of the sup. port of the market, which has held prices rigid against all discretionary in- fiuenees for the greater part of the That policy was thrown aside today. either becauge of the diminishing sup ply, of banking credits with which to tpon 1ntos os tboss % so csuss Ssye ct tollowed it with some of the features ip the out look for affairs.l That the burden Of sustaining prices at the extremely aa. reached is increased. by the constric- ton of money supplies is certain, in spite of the moderate effect thus far produced on the open rates for money fairs of iarga and influential capital ists who act in the stock market are not likely to be matter for open proce- nsas money n nafkss as Es Snt tSe eA1 great banks concerned In such affairs may bring pressure to bear for adjustment ID tines of shitting money a;.I. conditicSSs ,si sSs vance in money rates in the open mar operating h the day's nssrkst may saSs RseS s sSe pSsntSs srHHne to tor n viduals. but that such rumors were heard Is . fact The money market showed 10 symptom of disturbancs al. until the later dealings With each day bringing important bond sales and with today,s sub treasury absorp: Sn tor ts Ss SaSfiSs sf2iiSeo e.f s5flnSi1f Sp m s | 900, this could not well be otherwise | In view of the relation of these forces
 to the surplus banking reserves a' | ment, The advance in money rates | funds from out of town sources ant
 Pussn ssSR s0 the Sf sSgSEs se aFSs Ds Fe
 downward and releasing credits al | weil. Foreign money markets showet
 es yestig igecss 1s aee bs A dsclinins M
 condition of the Bank of Ensian1 | brought It's proportion of reserve t
 sndnr t9 9. s"rs s. yeSf sslqg fCr the ts | time throughout the fsll months. Tn acute weakness of American snneitint and or shares in other companies ti the metal trades found special expla | nation in the critical altitude dis | played by members of the Ways ant
 Means ConifnIttee of the House to
 wards the duty on. lead ore: Reports
 market and of rate of productior far outrunning the amounts going int, consumption were "a contributor, | cause and pulled down Arnafgamate, | Copper along with the smeiting stock The weaknese was not limited to an. l restricted field in the list of securi ties and spread gradually and witt increasing effect. The decline In itsel had the effect of uncovering stop los
 orders and of bringing out calls fo additional margins. The remarks O | the President-elect at the dinner , | the Ohio Society seemed to be re Barded as bringing disillusionment t | some of the speeulative element whicl | had dwelt on the future immunity t, be enjoyed by corporations as q mo | tive for advancing prices.
 The professional element laid som,
 stocks was In the interest of an ex
 tensive combination of Bucket shop | which would have a claim to enor | nous sums in customers margins upoI l prices falling to a level that wouit | wipe them out. The cheapening O | prices as a result of the days sale amounted to from one to three point
 for practically, all stocks dealt in. Bonds were Irregular. Total sale par value. st,900,0 900, United State
 bonds were unchanged on call.
 CLOSING STOCK LIST.