The Montgomery advertiser., 1909-04-06
THE STOCK MARKET

Nav York, April 1.-The speculation
10 stocks dld not fully maintain its
strength throughout today although
g aSyIns q sy ccns.s e vitality and
Speculative opinions was to have ad-
worst had passed ana that improve
ssa win s e s.l ne ss nss nUm
% by the caution prompted by the
probability that the speculation will
outrttn the rate Of improvement 1eav-
INF room for sharp stock market re-
Ths danger Of running out OF mar
gins on such a reaction and Of Losses
for the too daring speculator as taken
such periods Of hesitation as were per-
ceptible during much Of today's session
although there was o strong recovery
before the end of the day.
was the expectation Of the decision
In the case to test the commodities
clause OF the Hepburn law. The sup
position was strongly held that with
sffsr the spring recess there would be
found amongst the accumulation OF
opinions usualiy determined by the
court after such q close period the
+ed provision on which is believed to
hinge the right Of the anthracite car
rters to control their own mines.
The disposition was plainly manifest
hour approached for the assembling Of
the Supreme Court. The fiuctuation in
Reading, meantime became very fever
ish. Then followed period Of sx.
until the reimbursement came that the
decision was once again postponed.
II would have been considered re-
lief to have this matter finally dis.
posed OF ~ Il II considered that It will
exercise 9 restraint Of speculative ac-
tivity as long a. It 10 undecided. With
the certainty of postponement of the
Decision at least another week there 7,
the market and repurchase OF stocks
sold In the morning. Saturdays price
recovery and the tone OF adyices sent
out by commi,, ,sh houses onssa over sne
ce.sion Of buying orders when the mar
The further. Improvement in the a.
addition 70 the demand for American
securities from that source also.
The market proved 30 broad and OF
fsred such POWER OF absorption that
Inn. mere h ne rsss 81 me skea "a
enent IN the speculation which appre-
ciates the value of taking advantage
OF such an opportunity to widen the
es saa q e dlesstion q and PROFITS q
Thss cling to realize had Its newt
able effect In checking the rise and
was foliowed1by the hesitating period
OF the mid-session. In the later efforts
to start the market up again In q good
deal of attention was given to indt-
viduai stocks with q view to their
sympathetic effect on the general LIST.
Some Of the lower grade stocks were
made prominent In this movement, re-
fiecting the progress of the speculative
exploitation down through the list.
Outside of the Supreme Court ses-
sion not much attention was paid to
any news. There seemed some impress
sion that the beginning Of arguments
In the government suit against the
Standard Oil Company, might operate
as restraint on the speculation.
Time loans were reported easier
and considerable amounts were said to
have been placed on Saturday over the
end of the year at Ia per cent. The
vigorous advance in the last half
hour of Union Pacific and United States
Steel was decisive in turning the
whole market upward again.
Bonds were hrm: Total sales, par
value, s4.94T.O00. United states bonds
were unchanged on call.
CLOSING STOCK LIST.
nal. r