The Montgomery advertiser., 1909-11-09
THE SToCX MARKET

New York. Nov. 9-Ths initial up- ward fnpstus 70 stocks today came from professional buying to cover asci.ion o{ the Imperial Bank Of Ger rate unchangsd. On ssturday thsrs had been reports that the rate would De raised today and would compel the t,cn nonk 2 or Hneisnd te take similar ac- tion of the demand from uncovered sn9rrs ,ss the stock market fell Into dug Gish nsgiect restrained apparently by
 ss.y sssss.oS Sysr s: s: st sSs inpsrisl BeRi a Wss Of a.r%sns % Wniie sil showing an improvement in con msEins up up tRs s dsssriorationy rHa ay 'sv of the November settisments. The bank re-
 s m wsss soid 1S sSo.s sss %s.a X sns the credit and note contraction also vas n small proportion to the huse' sxpansion of last week. The Bank of South African gold available in the Londan market, but the London con- sfoi Of New Yorks gold was reasssrt- ga m the resumption of outgo of foid to South America. engagements Wednesday. The Bank of England market. 'rs This % and the he coDtsmpis}ion eSU o bank statement published here was | corrective of any danger of over-con- cial outlook. The money sterling ex- cnange rate at Paris. which advanced full centime to above Ithe par of sihie movement of gold from Psris t to London which would be accepted ss an important relief force of the situ- ton In London. The money market piled of all the International money markets. and the discrepancy in the interest rate in London Is prompting eon Sy rrsnch % Sanks bsrieesd n s that some American paper figures in thess purchases. The Influence of the cotton speculation upon the interna- today. in connection with the violent slump in the price of cotton. Cable remittances by foreigners to replenish decline of several points in cables on i.st London: while other maturities were heavy and making exchange. The rush of imports from France to anticipate the expiration of the reciprocal trade agreement on November 1. has subsid- mittances in payment. The published outline of some of the subjects to be treated In the Presidents message to Congress recalled attention to the ap- proach of the assembling of that body and to the regulative measures that may be directed against corpora tions by the legislation of the ses- sion. A notably strong feature of the days market was Amalgamated Cop per. The influence back of this move- ment was the persistence of rumors both from abroad and from domestic sources of the progress toward a working agreement of the various i'm portant interests amongst the copper producers. The London price of the red metal rose in c6nnection with these reports and in spite of the ex- pectatfon that the statistics for Oc- tober of the Copper Producers Asso- ciatfon would show a further addi- ton to surplus stocks of the metal
 A Hull in the sales of pig iron since the first of November was another item of the days news which may have aggravated the selling pressure on U. 8. Steel. The late rise in call loans to five per cent. also was against the market. Foreign exchange rose strongly in face of the stiffening of the money market and New York ex- change at Chicago fell back to AZ cents discount per S1.000
 Sondg were steady. Total sales, par
 United States bonds were uncharig. ed on call. -
 CLOSING sTOf.K rxsT