The Montgomery advertiser., 1909-11-25
TIE ST0CK HARKET


 the wide mcvsissnt in opposite w dirsc.
 tion of . few stocks in today.s mar, stiil existine h the specuiative ssnti.
 stsndsra oii P' csss 1 Rrs'sssS TSs eenf.rsnes'
 porstien cousssi and dirsetinl autnorities In the great corporeuoni are testimony to the feeling over tns 4 featufe Of the developments to. day was the alteration in the attftudt of corporation Authorities towards the psellsE of m msyins fSr repeal or nDa law. This change in the corporation attitude was accompanied by fntima- lions from Washington that the view of the administration regArdlne in face of the Standard Oii decision Speculative surmfse thereupon SC, about to try to decipher what such . condition of view might impart to the that so effective . weapon against the power of the ycorporations vas dis closed ip the law as interpreted by Judicial decision that q determined sna effective opposition cssDss ysnld ss of, was reported that legislators and executive officers were not impressed with the contention that the law, as defined by the courts, would make 1t impossible in l for corporations % or ever ,n opinion came the intfmatfon of q gov ernment policy that would refrain from attacking holding % companies lies cause they are shoiiins companies, re- serving the, pursuit only for those which seem to restrain trade or aim at monopoly. The features of this f~~ t<.. IA an l. l.. "A <fx.a x,- ciai district. indicate sufficiently that the burden of the new issues present. ed are not yet clearly defined. The uncertain fluctuations of prices went to bear out this evidence of the feel ing. of the market. Large speculative stocks and fears that the proposed consolidation of copper producers would be prevented by the sherman law caused selling pressure to be re- depression shown by New York Gen. traI was attributed to the announce ment of subscription rights for stock holders to the new stock at par. The previous knowledge of the issNe and the accurate predictions of its terms proved a surprise and had depress- Ing effect on speculative sentiment, in view of the further large applications confront the markets. The subscrip- ton rights were dealt in in the out side market at to 5 and fraction.
 This seemed only to increase the pressure to sell the present stock to obtain resources for securing the new stock at par. Reading resumed It's function of supporting factor against the tone of depression elsewhere vis- ible in the market. Its rise to only l 3-s short of It's highest record price was unexplained by any news bearing on the property. The buying of the stock was concentrated and said to come from banking interests connect ed with the company. The strong showing made by the Southern Pacific in its annual report made that. stock strength in the market. Wabash pre- ferred reacted sharply from its ad- vance of yesterday. owing to the dis- belief in the rumors of a merger with the Delaware and Lackawanna and Western.
 There was further engagement of gold for shipment to South America, and the foreign exchange market maintained It's strong. tone. On this the Bank of England authorities to reduce the official discount rate to- morrow were received with some doubts The eve of Thanksgiving holiday reduced the volume of the transactions to some extent. The same influence prompted covering of shorts which was responsible for
 Bonds were irregular. Total sales par value s3,632, 900.
 United States As coupons declined IA per cent on call.
 CLOSING STOCK HIST. .sjU