The Montgomery advertiser., 1908-11-14
THE STOCK MARKET

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 New York, Nov. 1s.--No apparent ob- stacle presented itself to tho advance v prices today. except as bids were ffsrssd. fsrss there seemed to be no stock of advancing tendency of prices served to reduce the offerings. Iiolders retain ms their stocks In the hope or convic- hieAbesrn hsA snar r,r they could just as well get as were. encountered we're Absorbed Mish ready confidence. Stocks which ,as. navs lain dormant were revived Sy Quotations without bringing out any s{1eks. the result betnE some remark s.r anss sadyances in the sale prices oyer Ing back months Into the petlod of oppression. All this served to feed the specuiative enthusiasln which was nanifestly easy. to advance prices and the securing of fresh holdings itself conduced to this end. While obvious each case to meet the buyer, there was no ostentation about the selling, while the buying vas done with enthusiasm advance in prices. Ti1e rise market fhereS fore took on all the appearances Of an excited bull movement The genersls prosperity was in Sight with prospects pr larger. returns to capital than ever huge sums of capitsi frcn 9ssnnSRss emp1ovmett and from, any enjoyment of profits. 1t was pointed out. was bound to give the restoration m @ of confidsnoe % which h would stimulate highly all lines of -pfo. ductfon and consumption. Details of @ this process and the stage of progress small part in the cafculations. or ab- sence of calculations, as did the extent so which rise in prices had already discOunted the improvement. United States Steel was made an object lesson for all followers of the prevalent spec nlatiye spirit. That stock forged up- So. that each stage of It's advance Of fered ar additional profiV to any pur- chase that had ever been made of the pany. Its top figure Of 5s 3-4 repre- sented 2 rise of two points over the closing price last night. which In turn Ing of the preceding night. The ex- pansion in valuation thus represented on the i've million and upwards of ton represented so potent force of absorption in the appetite for specula- slon ana investment as to fairly over 3wsr effect toossv ses imaginas.on ans n had that factor In the market. Of fine days to- taI sales of all stocks reaching IS93,- I the 4ss nSmSer Oe aa of Sass shsEes @ slmultaneous sales at the opening were IS.0o0 shares and there were numer- ] ous pAoSAs OI between 3.UV9. and 1e.G0O shares recorded on the tape throufh- out the day. The large broportionT of | the days selling concentrated Tn that stock and in Union Pacific and South l ern Pacific was significant of a-centraj- l5atfon of the forces in the specula- ton: Yet the general demand for stocks continued broad and widespread and left practically no quarter Of the iist Of securities unexpioited. Uncon- nrmed. rumors were circulated of or ders Of unprecedented volume by some Of the railroads for equipment and material Deal rumors regarding the Hartman Pacific also. had some re- vtyal. These rumors. hewever did not receive much more attention than did the marking down of the quotations for copper at the New York metal ex. change Or any other news Incident Of color different from the prevailing speculative spirit in the stock market The room traders caused slight re- action in, the final hour in realizing their days profits, but the advancing tendency was sustained with remark ] able consistency and the closing tone was very strong. Bonds were strong ana very active. The days transac. tions were probably the largest for any single day in the history of the stock exchange. Total sales par value SS,- e4S,00O. United States bonds were dn- changed on can. s.
 CLOSING STOCK LHsT.