The Montgomery advertiser., 1908-04-29
THE STOCK MARKET

New York. April 2s.--Ths stock market today gave a striking demonstration of ume. The figures of the aggregate sales do not fully bear out the appearance of extreme animation In the market. which was due to great activity in several select
 These were. at the same tinie. the most eonspicuously strong stocks in the market since some time lefvre the financial crisis, nf last October. Sales also were the largest since the panic period n., october. '
 Union Pacific was the conspicuous leader of the movement and its price has recover cd more in proportion than any other stock in the list. Today's movement carried with that stock in closest sympathy other members of the trans-c continental group in which conditions resemble most clearly those of Union Pacific St. Paul was espe- got the full benefit of the sympathetic movement. The movement was sDotty and uneven. some prominent stocks coming tar dily into the movement and some failing to respond at all .t In the former class were the metal in- dustrials. After remaining sluggish through- nnt the early part of the day. these stocks were moved upwardS iater. as though to reetify the artificial presence of the inaet- tvity. .-'' i.tt
 The advance showed every evidence. of skillfu and resourcefui leadership and the conviction was general among tho rank and file of operators that it had the favor and support of the great powers in the banking. railroad and financfai world. .s5tf .c..
 New developments continue. mixed In character, abundant money resources on the one hand and continued depression in in- dustry and commerce on the other. The aggressive advance in prices of railroad stocks in eht face of fnsistent complaints nf railrosd officials of contracted earnings and the government restrictions which ham per efforts for recovery makes an impress i've contrast and suggests motive or policy designed apparently to assuage public hos tility. 'rhe indulgence sought 'for the. pro posal to advacne. freight rates new under ~tr N- th a measure was much discussed as factor in the rie in prices today
 of more immediate effect was the De- lief that the support had been secured for the coming Union Pacific bond issue with large foreign participation. A special arr Eument in the case Of st. Paul was the the ellie coast extension will begin earning, something in short time.' f'. ae,
 Northern Pacific was especially strensth- ened by the revival of old speculative rn- mors of an intended large extra distribution of profits The issuance of the call by the Secretary of the treasury of the return ,fi, tho banks, first installment of $2o.00o,O0O payable on or before May g. met an expect stion long held in the financial district ana cline in foreign exchange rates. which were later recovered for the most part. A hard- ening of discount rates In London was an offsetting factor.
 The Presidents message riterating con tentions which have coused perturbation occasions. was accepted calmly and without effect on stocks. The uneyenness or the days strength left some conspicuous stocks with not enough vantage ground on the re- action when profit taking set in. to leave any of their gains The conditions show sprinkling of losses in consequence. The figures of the United States Steel quarterly report were not available before the stock exchange session closed. but the earnings conformcd closely to estimates current fer several days past.
 Bonds were irregular Total sales par val ue S4,540.0 900. United States bonds were unchanged on call.
 CLOSING STOCK LIST.