The Montgomery advertiser., 1909-12-02
THE STOCK MARKET

New York, Dec. i.--Prices of stocks had substnnfiai rally today. in ac- eordance with the genera. expectation speculation, general demand to the bears. and the withdrawai of seii- ing pressure marked the subsidence of rsst over the sntlstrust M tepsesa psosram asss ss Washington. on the compietion of such uquidauon az was felt to be common surate with the sttua ton.
 eoS ws. nssss ss csm. {. ss asun pnwssd sy House of Lords In London in appeal Ing the budget decision to the elector- ate. The effects of this action on mnsn nris,sh finsneiai affairs have been so gress over estimated the consequences left in the presence of the actual event. The opinion holds that the steps made n:cessary in British fiscal unsettltng influence on public senti- ment of the. grave. governmental is- sues Involved. are destined to have a ssstrsinins rs, sa effect .:. on finsncial mar
 The same mixed view may be said to hold on the longer outlook in the corporation regulation question in this country. Somsthing was made today part of the Department of Justice at ment of the hearing in the American Tobacco 1,ona; vs,ns ease DsfOrs the the Supreme 13. The first view of this report seemed to be of putting off Of an evil day from the stock market stand point. This view was modified by the representatives for as early con clusion as possible of the pending cases.
 Another factor in the easier feeling was the reported Expression of con fidence on the part of congressional leadership in substantial agree ment between the executive and Con- gress for the repression of radical
 The demand for stocks. which was attributed principally to the uncover ed shorts. was somewhat desultory in. character and showed some hesitation the passage of time. There was a resumption of leadership by some Of the highly speculative issues and renewal of deal runors. These cen lution of the Rock Island and St. Louis and San Francisco union and the possible alternative alliance that might be made. Wabash was placed
 movement s s in m Lehish ss ssss' Valley in Phi. M adelphfa added that property to the proposed combinations. Its movement was an influence also on the renewed advance in Reading. although the iat- ter property received no notice in the combination stories.
 The retention of the same dividend rate by New York Central and Ameri- can smeiting disposed of late rumors of an intended increase, but did not prevent those stocks from advancing with the market. Chicago and North western furnished another example of the recent tendency of stocks to de- cline in price when stock increases are proposed. however attractive the subscription rights to present hold CTS are made. The outside market promptly appraised the subscription rights to the new stock at par to the above 14. but the price of the present stock fell four points following an an- ticipatory decline before the an- nouncement.
 The effect of the December money settlement was perceptible In the rise in call loan rates late in the day to l-2 per cent. The continued large the withdrawals of cash from the banks by sub-treasury operations have narrowed the resources to meet the December 1 demand. The inaugu- ration of the railroad switchmens strike in the Northwest proved a dis- appointment of hopes that satisfactory settlements of labor controversies which are expected in other dfrec- tions. would be effected. The market closed firm under the influence of the Wabash 'deal' rumored.
 Bonds were firm, Total sales par calf II, s. bonds were unchanged on
 CLOSING STOCK IIaT