The Montgomery advertiser., 1909-12-10
1HE S;TiOCK MAIEET

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 shs sss s.a Ses 1ss ssssad .sssns sssas0a l. today had strengthening effecf on the securities nnarkefs in all the great financial centers: rhe action came as 2 surpr1se as the conditions which
 ssssra 1ssss asss 0ssn rsst n ntSous ls nfnsncing the govsrnors to receds from , The op.n diseognt rate in London cent below the bank rate for some time end this disczspancy would orr ofnarily exclude the Bank of England from sharing In banking profits. which junction with It's larger public of1ices. It's measures to force up the cost ;of . profitable share in banking business
 It was supposed that the high bank the turn of the year in order that the requirements of the money market Tor the yearly ,settlements might be made to yield return that would re- in safesuardins the central banking reserve.
 The reduction in the rate serves as notice to the financial world that more mo- than % suiiicient. 1anss The e1ixencss nd ss of the British budget rejection have proved less evidently, than was an- ticipatd. The reduction of the rate came in spite of additional with nlent to South America. Further en- agreements were made here also for shipment to South America on London account. The question presents itself of the London money market may be due to a halt in trade activity The general effect of the lower bank rate was cheering to financial markets ana was prime factor in the strength or the New York stock market.
 The demand which carried prices upwards was somewhat desultory and spotty in character. Many stocks not usually prominent and including were impressed in the movement. Hopeful views were still heard about the stock market of the prospects for political action at Washington ana Wages sns from napous quarters in the railroad world seemed to be carried on without damage to values:
 A rise in Pennsylvania calls atten- ton to the fact that subscriptions 70 the new stock offered to share hold CTS must be made in the period be- tween December s and IS. The trunk line group generally was strong, the diffrentialI lines moving with the main land stocks and Wabash preferred gave new lease of life to rumors of a combinations of those lines in sympa- thy with the interest secured in Le- high Valley by the Rock Island con- trolling factors
 Amalgamated Copper and other me- tai and smeiting industrials responded to reports that preliminary details of the proposed copper merger were go- ing forward once more.
 Tn some other stocks which usual ly argue as speculative leaders the movement was less conspicuous ani there were signs of profit taking from time to time. United States Steel moved narrowly and Reading showed constraint in It's action.
 The volume of the market as a whole shrank considerably by reason of the diminished activity in these usual favorites of the speculation. An extra dividend by one of the leading copper producers were partly respon- sible for the strength in that group
 There was a suggestion of prepara- tion for window dressing for the show ing to be made in investment ac-S counts and balance sheets at the end of the year in the way in which quo- tations were marked up at some points. The closing tone was strong after the reaction.
 Bonds were firm; total sales. par value, $4,464,O00.
 United States bonds were unchang- ed on call.
 CLOSING STOCK LIST.