The Montgomery advertiser., 1908-05-28
THE STOCK MARKET


 :. New York. May 2s.-Further speculative liquioation was very obvious in todays stock market. during the progres of which has been touched since the movement be- gan fin the latter part of last week: The the actual news to account for 1t as did the previous advance. fact which strenth- ems the view that the operations are center ed In . few hands and find their motive in longer prospect of affairs than is outlined in the day to day developments. While the fears of coming unfavorable events. 1t must be accepted as a reflection of a certain dis bie developments as have occurred and which have failed to incite sufficient de- . mand for stocks to absorb realizing sales except at the price concessions which are being made when the stationary movement was once fairly established there came in of the encouraged bear party in the circu- iation of reports calculated to prompt ceiling ot stocks and so help on the effort to de-
 Some such reports today were of con sioeranie effect This effect was clearly of lower credit under suspicion earlier in the year of financial embarrassment. but since crediteo With being safely extricated from
 on account of these rescues the rebound m the stocks from extreme depression was vulnerable to the revival of rumors impugn- ing their soivency. The. violent breaks in ly in the bear campaign for lower prices.
 The character of some of the crop dam age reports also awakened suspicion of bear ish origin by reason of hte mysterious al iusions to the hidden cources of informa- tion on which they were based. The vio- lent Fluctuations in grain prices yesterday gave foree.to these rumors. although largely due to technical speculative conditions in today when detailed news of weather con ditions was known.
 Another field of bearish industry was in the alleged intentions of the federal gov ernment in the matter of further prosecu- tions of corporations The filing of the suit of the government against the New Haven has left speculative sentiment on this sub Ject sensitive. However. the influence of numerous rumors in this class some ney general reported in Washington dis patches that they seem to be stock jobblng affairs with these various evidences of scale, the disposition to sell stocks became less urgent and the shorts found themselves less able to cover their commitments when latter resiliency of the market was tho natural eonsequence The easy tone de- Influence on financial sentiment. even than the break in stocks. The feeling over tho investment situation was affected by the re- for subscription and for which demand Is less keen than for the high grade bond issues previously offered in spite of the at tractive return of this class of issues.
 Then engagement of more gold for both France and Germany added to the sum banks cash holdings in making up the coming bank statement and which has rssehsd suffc,snt figure to make con. wide margin of the present surplus
 The effect of the weeks financing on the loan item also must be reckoned with The tone of the money market was affected
 Bonds were easy. Total sales par value t2.7Oe.ooo. United States bonds were un- changed on call.
 CLOSING STOCK LIST.