The Montgomery advertiser., 1908-10-14
THE STOCK MARKET


 New York. Oct. 1s:-There appeared to be some conflict of purpose between at least two strong parties in the speculation today, although their op- vantage. In the one case the support or prices against pressure. without any attempt to bring about an ad- object. In the other case. there was aggressive marking up of prices which seemed designed to incite a nub- ing process was almost wholly con med to groups of low-priced railroad and industrial stocks, in many of anf baISInra ahsTs are 1p0fttant or dOmi The minor railroads brought into this movement are believed to be held in a large proportion of the total capital ganlzed stock market pools for the purpose of controlling its disposition In the market. Wide price movements with a small amount of stock actually changing hands: It Is this facility of manipulation which lays open to sus- plclon the movements in such stocks. especially when the concert of move ment finds no other explanation than ,n. me common ownership or. property in- opments effecting the properties. Such was the enect of the action of these stocks today. Their starting upwards served as check rather than a stip
 
 general market. The usual leaders of the market showed resistance to the reaction, but seemed to balk at at seem11pts for an active advance. The attltude of reserve thus indicated to- wards present active speculation was sioI siscTioed to remanent of apprehen- in Europe. to some contraction in money market supplied and to pur- R0se nos 1eos'~at to a%ait the passing of the com the wheat market was helped by ca bles from Liverpool regarding the poli- tieal prospect: The lower range of tered when the local market opened mad an erect of admonition of formant tears of the situation felt there. Money Sn cal commanded a maximum rate wnile bank loans were in process of rapld expansion to take up foreign sales Sa.,s of securities, The more conser- partly on the possibility of renewed sales Of stocks for foreign account or Tor an outgo of gold, partly Or the partly. to preparation for reception 10 new Issues of stocks, especially on oSnds on attractive terms. The public Gnering fnH o6 the South ern Pacific refund- as an example. Definite information IS lacking of the requirement yet to be met sns .h m sne foreign exchange market or New York city bonds in London on Nov. I. and that need may decide the question of gold exports. Foreign op. eratlons In the stock market were not important today. either on the buy ing or the selling side. but it is felt that the pushing of prices to attractive heights would be to invite renewal of foreign liquidation quite aside from the political influence. It Is the GUS tom of the great foreign money mar. kets to meet promptly balance against them on merchandise account oy sales of securities. There was an easing of discount rates today in Lon- doy and Paris. The threatened re- opening of the labor dispute in the Englieh cotton mills was an unsatis- LactorY development and caused de. cline In the --ice of cotton The he's nating tone of stocks persisted
 Bonds were irregular. Total sales. par Va1ue. SS.s3O,000. United States bonds were unchanged on call
 CLOSING STOCK LIST.