The Montgomery advertiser., 1908-10-16
THE STOCK MARKET

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 New York, Oct. 15.-There was only a nominal stock market today after the brief perioi of the execution of orders for foreign account until sudden revival in the last half hour. Whatever may account for the with drawal from active operations of the strong financial element which has conducted the recent speculation, 1t operations subtracted nothing was left of the market. The attitude of re- serve on their part may be due to the willingness to encroach further on the money market supplies in the further ance of movement with the election still three weeks in the future, for 1t is generally assumed in Wall street that no active geenral demand for
 curities is to be expected until
 the election. The necessity of
 ing large additional obligatiol r~s-
 week in order to absorb the flo.- Of foreign sales undoubtedly interferL with the plans of the organized sup port at that time proved entirely sue cessful but involved heavy nc in- debteSness to the banks. There ds a prompt restoration of the price- level on Monday following the subsistence of the foreign war scare. but since that time 1t Is obvious that the active campaign had been curtailed. Support is forthcoming at any considerable de- cline but wedding out process Is per ceptible with any tendency of prices U 6uNhuCC, WHICH IS SuBBCSIlNC OA el desire on the part of the packers of toe to some oas s8tent. S1sGn feou's 'ns'f i0A'
 The immobility of prices caused by today and there were few, even of the most active stocks which fluctuated over an extreme range Of point until the sudden rise at the last. Discussion of the government finances came up in connection with the money market position. The contin- ued deficit in the revenues. the reduc-
 ton of the treasury's cash balance and the coming maturity of the one year emergency notes put out at the time of the financial crisis all suggest a possible further call on the national
 banks for a return of government de- | posits. London was source of some | strength to the local mark ct. both at
 the the opening and in the closing spurt:
 ascribed to the satisfaction felt over the conclusion of the fortnightly set
 tlement. without failures. which had slve fall in prices since the preceding 1 settlement, due to the war scare. The political situation semed to cease en-
 tirsly to play any part in the financial is | dulged in with the entry upon the
 period of anniversaries of the exciting
 events attending the financial crisis of | opening of the trial of a banker con | spicuous in the events year ago | gave food to this discussion. A good effect was produced by reports that copper consumers were less aloof in | filling their requirements, while pro- ducers are holding together more firm | ly for their prices. The view of the
 authorities in the iron and steel trade | of present conditions was decidedly l conservative and estimates of the Uni
 ted States steel rate of activity in Sep
 tember and of the earnings of the late | quarter scarcely availed to counteraci | the effect of these views.
 Money lenders reported an increase
 in the demand for call loans. while some of the largest banks have prac- tically withdrawn from that depart
 ment. The result was the little 1 furry in call money rates today to | two per cent the highest since the conclusion of the October settlements
 The buying of stocks. which began with the rise in call money, gave a suggestion of responsibility by the bears for recent selling of stocks. The upward impetus lasted until the clos l ing.
 Bonds were steady. Total sales par value. $3664. 900. United States bonds were unchanged on call.
 CLOSING STOCK LIST.