The Montgomery advertiser., 1909-05-08
THE STOCK MARKET

world wide speculative asnsonssration securities today. This movement form sd the , ssntred force n the days mar mar don copper mining shares of all eIasses and conditions diaplAyed extraordinary buoyancy. The strsngth of these stocks asrs n ssm nSrs wa: Sm partly n SusnE CT The great Influence on speculative sen. timent of this copper demonstration was due to the supposition IL caused were going on by the group of capital isfs of most pronounced speculative proclivfties and credited them with the ssocks os s The e sogcs iation with this group. owing to their large interests in those securities.
 It was noticeable today. however. posed to share the favor of this san1> group participated but moderately In the. upward movement and had pc. rio6s 9f Teassisn An sysrsossainIaTg seaIs T at the stock exchange and this gave ar vsfisty to the market. The material the numerous and frequent items of In. formation which were kept afioat In the .fnanciaf district. bearing on the moderate trades. A systematic
 
 of companies and 2 succession of re. ports Of their activity or of the views of their ofsiciais on the business out Large S w new uodsns' orders were in sight # s said. for cars and rails. one company announced sn advance In the price ot poys ssd ana sales of pdss company. 1t Is reported, has withdrawn from the copper market. having It's products sold up to the end of June. he here. r we're SS aSvaneed. @ oPnsr Pfnneresssd % sct- ported These stimulating influences stirred up the speculation in the cop. Ing effect on the whole market.
 Preliminary estimates. of the weeks currency movement had some sustain
 ss erect as hesTy Cn sesp;s Tsa fro ss the rior brought out by the hardening in- terest rates in New York. The sub treasury opsrattons have yielded less owing to payment for gold I i Oars sex sx- ported, but the excess of receipts in the interior movement appears to have hs Anoshef S Dwards in xold WAS engaged today for shipment to Arr gentina. but foreign exchange rates were lower and the Paris check ON the inducement to ship gold from New York to Paris. The changing phases Tn the labor controversy In France had no apparent disturbing effect on the securities markets. The enormous au- thorisation and fiotations of new cap itai Issues going on, induced some dis cussion of the possibilities of another era of Indigestion of securities"
 Two important modifying factors in the present situation are pointed out Numerous maturing short time obIiga. tions are to be simply sefunded into these new securities. Also the favor shown for convertible bonds is feat. ure of the period and 1t is customary to authorize stock in volume equal tis these bonds to provide for the conver. sion which would, however, work the retirement of the bonds.
 Stocks were but little affected by the heavy decrease in winter wheat acrs- age as reported by the government. More attention was paid to the i'm. provement in the condition estimate of winter wheat and the forwardness of the spring planting reported. in spite of the backwardness of the season. The market closed in burst of, anim ation and strength.
 Bonds were firm Total sales. par value. $e,sf6,0OO.
 United States bonds were unchang- ed on call.
 CLOSING STOCK LIST.