The Montgomery advertiser., 1909-12-18
THE STOCK MARKET


 lect. such as the stock market feli in- to today is sometimes ascrfbed to 'hol- day dullness." f was not entirely free today from . feeling of dIsquiet sorssis factor snasrs 's@s shs sas tion. The continued strength of the foreign exchange market attracted marked1attention on the possibility of sssed gaze ior shipment soAs to south fi1 America next week on London account but larger interest centered in the ques- ton of shipments to London direct. Discounts were firmly held in London campaign Is expected to proiong the strain In London beyond the end of the year What may be the effect on swsS @ sw intenest 1Ts Hrk in View of sxpectsd large requirements during January for subscription to new capital offerings The problem is complicated by the
 asSSpy oSEatons SnsnE the to the psTe sanH France for gold advances during the period of stringency. After the same time there were large maturftfes of borrowers during that period. A re- taxation ip New York money rates ev- identity was counted upon at the pe- rfod of these maturities. The London statist Of last week said on this sub
 "some persons curiously ignorant of the credit of not only the United States but Its great institutions, are again trying to get sp the cTy tast aeets fI fan due next month and there may be dificulty in settling them. Such a notion Is utterly absurd"
 .s At .s. the same , time the nn.. sestang or lation in New York. such as was caused by the recall of crtdits this fall. when the Bank of England ad- vanced It's discount rate. The prom week in New York's cash in banks was grateful under the circumstances and the appearance of preliminary es- inmates of the weeks currency move siderable strength in stocks. Allow ing for the weeks export of a million dollars in gold the banks have gath tired apparently from the interior and S00,000. A considerable margin Is thus provided for changes in the loan Item. without unfavorable effect on the surplus The effect of the increase . dend proved more stimulating than did the Reading Increase. Not only did that stock Itself advance but Att lantic. Coast Line benefited from its vile and Nashville stock. while It's collateral bonds issued against . that stock jumped full 10 points on enor- nous dealings to a record price above par. The movement gave rise to sur misses of redemption of the bonds to release the stock, as was done In the case of Rock Islands holding. of St. Louis and San Francisco stock. The bonds subsequently, fell back several points without touching the redemp- ton price, which Ia 105. Supplies of- fered in the money market increased largely after the publication of the weeks currency movement.
 Large sums were placed on call at { per cent, carrying over until Mon day. The bid price on ninety day and six months loans fs.f to IA per cent This was considered the more signifi- morrow of a s25,000.000 installment on subscriptions to the new Pennsyl- vania stock. The reviving effect on the market fell short of animation and the lattrs trading continued very dull, with the final tone firm.
 Bonds were irregular. Total sales, par value. S6,949,000.
 United States 2s. coupons. advanced Is and the registered S-s per cent on call.
 CLOSING STOCK HIST.