The Montgomery advertiser., 1908-10-24
THE STOCK MARKET

New York, Oct 23-There were many cross currents in the movement of stock quotations today but none of them was very wide.
 The tone was unssttied and confused in conseauence. The dominant infiu- ence fin determining an attitude of the professional traders toward the market was an action of the handfuli of prom inent stocks which have been the lead CTS of the market throughout the sum mor. Etr
 In this connection 1t was rather ob- vious that the prico movement was re- strained by encounterin~ orders op. posed to the movement before it had run far. An advance in the price at- tracted selling pressure. while any re- cession brought in buying orders sufh- cfcnt to check the decline. The. sell ing developed each time at about the price where dealings yesterday left nit. Such q movement suggests feel Ing out of stock to take profits. with careful support asserted whon inc sell ing makes an ir oreseior on ihe price.
 lt was particularly netlceahl In the two Hartman Paclfics. St. Paul the two Hill Railroads and Reading II was the cause of the finad decline and weak closing. At the same time there was n positive strensth. shown nt other points which served as a sustaining force againSt the current of the profit taking. The copper industriais were prominent instance This group. ln- cluding. the mining and smelting stocks. was helped by the news from the cop Der metal market
 Prices were advanced again at the New York metal exchanges and 1t was reported that something like excite ment was beginning 10 be shown in the buying by consumers of copper m American SuRr- also, therf was the ef feet of trade developments. grades 3f refined sugar having risen In fhe qiio- tations. United States steel. while nov in uanAara fnlv fnt1rhAA inc flfRh nFtrA of the year a. 48 I-8. On september g. the day before the last quarterly di- vidsnd was deducted. the stock touched the same quotation. The quarterly TO- lished next Tuesday and the speculation is inclined to assume a favorable show ing as to earnings and untitled orders on hand.
 Reports of intended purchases of equipment by railroad companies are in favor of the steel stocks also, and advance In traction shares was attrib- uted to the result of the election in franchise as an indication of the drift of public sentiment on the question Of restrictions on public utilities corpor- atfons.
 The general news events of the day had little reflection In the stock mnr- ket. Foreign markets showed some re- viVed unensiness over the reported hitCl, in the negotiations for a settlement
 
 sold some stocks in this market and there was n slight discount on New York exchange at Chicago today, how ever which Is the first time this week The money market remains in a tram quil state
 Announcement that hearings will he begun next l. nth In the government suit to annul the merger of the rail- roads under Hartman control served as a reminder of such a suit. which loom ed large at one time in the. speculative view, but which has long been lost sight Of
 The weeks exports showed a heavy movement of grain, wheat with flour is 6.127,925 bushels against 4,458,O2f last week, while there was 8 jump in 62, 6S3 last week
 Bonds were nrm. Total sales par value. $3.074.000. United States two's registered a decline of Is on call.
 CLOSING STOCK HIST.