The Montgomery advertiser., 1908-09-29
THE STOCK MARKET
NEW YORK STOCK MARkEr.


 New York, Sept 2s.--Last weeks speculative excitement was no longer traceable in the duh and sluggi move- ment of today's stock market. Finan- cial option was inclined to observe this tendency with qualification as the fe- verish and violent fluctuations of last week were regarded as unhealthy and calculated to dispel confidence in the market. The decision of the forces controlling the market to give 1t pe- riod of rest was inferred from the sup port which checked the opening de- cline; This decline was in pursuance of the movement in progress at the close of last week and which had the effect of bringing in some selling orders from the country at large over sunday. With the check to the fall. the market lapsed into a condition bordering on apathy and the gains were yielded cas- lily towards the last There were movements in industrial stocks, but terest or importance. The same could be said of the news of the day The further exchanges between the leading controversialists in the political cam fairs of great corporations were re- garded as containing threat of devel- opments calculated to prejudice the interests of those corporations. Other into the background. Some anamoly was drawn from the effect on the Lon- don stock market of the defeat of the Liberal Government candidate for the British Parliament in the Newcastle District. The London financial commu- nity, like that of New York, reasons that radical and aggressive Legislation has the effect or causing timidity of English securities therefore advance ed on the defeat of the Government candidate.
 Rumors of deals came into promi-
  lation. in the absence of more substan- tial developments. Those affecting Rock Island were more heard of but with out any authentic details Rock Island ital 10 meet early obligations of it's subsidiary, the St. Louis and San Fran cisco, and there was that much ground TOT attention to the reports of steps having been taken to that end. A sup rumors.
 The uncertain fluctuations in the Rock Island securities reflected degree of these rumors.The Hill and Harrirnan n railroad stocks and St. Paul and Read . Ing maintained their prominent place Tn the dealings and!kept alive the con- VIction that the control and leadership Of the market remained in the same hands that have conducted the princi- pal operations throughout the summer. SOppcr WarFAnLS Tn London declined and copper securities there and here were heavy In agreement Dealings in United Ststes Steel also were below last weeks closing level almost entirely The action of the corn market in de- cIining on the news of. the freezing temperatures in the Southwest had the enect of convincing sentiment that the crop was considered safe from harm The warm, dry weather in fact IS known to have hastened the maturing or the crop. The breaking of the long drouth was given credit for some of the strength shown by the cotton car riers. The local money market was little changed, but some increase of activity Were reported from Western and Southern money centers.
 Prime commercial paper brought somewhat higher rates and buyers were reported particular as to quality. The experience of the banks with the paper Of the Fish combination has had the erect of inducing closer inspection of names. Foreign markets gave atten- ton to the report that a $25, ,00O. 0O0 Russian loan was to be offered soon, after a long period of preparation which had affected European money markets for months.
 Bonds were irregular. Total sales. par value, $2,42S,000. United States bonds were unchanged on call. CLOsTNa aTfsru xrur