The Montgomery advertiser., 1908-03-04
THE STOCK MARKET


 New York, March s.--The stock market was whipped into sembiance of animation for time today but soon the proceedings reaction from from the the advance z
 Covering operations by shorts were assign ed as chief source of the demand. which was melted by Q succession of incidents of the last day or two serving to make the shorts uneasy
 Today there was printed in the financial Attorney General Bonaparte that there was no intention on the part of the government shs payept eSs sousnesn @ Psafc ssnni ,% dend on shares held in the Union Pacific control The bear element in the~speeula- ed intention to help il depressing stocks. and they bought to cover with this develop
 Support was stin evident in National Lead and the resumption of mining opera tions in the Montana Copper Camp contin- usd under discussion with some stimulating tension of the rise today after a considera- ble advance yesterday drove in some shorts which were not affected yesterday.
 The dying out of the demand after these operations were effected. was pronounced. The element that, prospers from habitual pressed with the progress of attempts to secure leGisiation looking to limitation of such o3srations to the actual transfer of
 The introduction of bill in Congress 10 tax stock transfer at the rate of fifty cents TOT every $10B share or stock makes a pen aity that would be prohibitive of the ordi- nary marginal operations in stocks. Re- ports that this bill had the approval of the administration were made throughout the stock exchange and added to the feel ing of gloom for some time prevalent there over any change of revival of stock market activity.
 Bears were expressed of similar mes sage from Albany. The agitation in favor of restriction of dealincw in future privi- leges on commodities added to the import arice of the subject in the estimation of the stock trading element.
 The numerous prosecutions announced on behalf of the government against railroad companies for noncompliance with the safety device requirements, of the law kept alive the subject of experimental activities
 The qualification of the annual report, of the Pennsylvania railroad. although It dealt occasion for support of the stock owing to the record achievements of the year in earnings as we'll as in outlay
 The reports supplied by the railroads to the Interstate Commerce Commission of monthly net earnings are read with growing ing prevent accurate comparisons with pre- yious reports.
 The legal requirements for methods of thority and the ratio of operating expenses affords clue to the effects now being felt from economies.
 return to the owning companies of idle freight cars Is perfected, which made heavy and expensive movement of empty cars while 1t was at it's height.
 Copper was marked down again today both in London and the New York metal exchange and this had an influence on the reaction In prices.
 Money and exchange markets were dull and featureiess. The rise in last weeks reports from New York to value of over S20. 100000 is explanatory of the restraint on any advancing tendency in kthe foreign exchauRe markets.
 s3.2s2ooo. United States declined .s per cent. on call.
 rT naNFNa eroru HIST