The Montgomery advertiser., 1908-07-21
THE STOCK MARKET

New York. July 2o--Considerable selling to realize profits came In the natural order of things on today's stock market after the attractive advances of last week The fea- ture about this operation that attracted most attention. however, was the manner fin he ams ses, ard prices There was q restraint apparent cn any further upward movement in stocks end of the last week but no show of pos live weakness at any important point in the market There were various new points of positive strength which served as sustaining forces for the whole list.
 There was little news bearing on special properties and the movement was based ai- most wholly on the growth of confidence in the general outlook and the improvement in speculative sentiment as applied to the ln- as %hole rh,s a ,onna ommere,@s s,on outlook ,n some substantial increase of demand for stocks as well as in an expanding volume
 Commission houses reported a more gen. eral participation In the buying on the part of clients scattered throughout the coun- iators of the very wealthy class. Foreign stock markets also sent orders to this mar ket. the attraction of sharing in the move ative stagnation which persists in foreign markets.
 In the bond market the broadening tend ency persisted. Par value. of bonds sold at the stock exchange last week rose to over t17.ooo.000 which represents an increase of over SlSsUUUUUU over the Saleb tn ttts WHSh of last year It compares moreover with a volume of less than 10000, 600 par value late in June. since which time there has been steady increase In bonds sales at the stock exchange from week to week The bond market shows other signs of improv- ing health. especially in the increasing from first hands and purchases by bank CTS for resale.
 partment of financial affairs is regarded as of prime importance in keeping up the movement towards improvement in general affairs which has set in. Railroad traffic officials gave testimony to thls improvement, but in guarded terms and with allowance of but moderate degree in the movement of wheat made up fact or that could not be ignored in this con- neetion. The rains in the Northwest hase spring wheat crop and made an influence both in the wheat and stock markets to-
 The undertone of strength in the railroad stocks is maintained by the widespread con viction that measures are in train to bring about an increased rate of compensation to the railroads for the transportation service. The further readjustment of wage schedules in the fro nand steel industry. which was effected last week, has been followed by reports of further resumption of activity in those industries. and this was factor in stimulating the stock market rise in the price of copper in the London market
 rise in standard oil in the outside mar. ket was CfteQ Dy tne pfOtesetouhA ciciuens as evidence of the nature of the backing for the movement to advance stocks. Sup | piles of money continue abundant and nc apprehension is felt on that score for the | future, although the markets are recogniz- | ed to be on the threshold of the annual interior demand for currency to move the | crops The stock market gathered renew | ed strength in the latter part of the day | and closed at suhstantial advances through | out
 Bonds were strong Total sales par value l $4,44s 900. United States bonds were un- | changed on call.
 CLOSING STOCK HIST.