The Montgomery advertiser., 1909-11-30
TIE SHOCK MARKET

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 New York; Nov. 2s.--A struggle against the forces of reaction was per- ceptible in the stock market specu- iauon which, was overshadowed. how ever by the lowering prospect of the the fears of the legislative program on the trust problem. Susgestions of . reopeninC of the farfff revision ques- ton st she coming session also had their snect. In the light of the Stsnd- qucnces for corporations involved ip the governments power there affirmed. further procedure In the direction of combinations 10 made matter of grave consideratton The copper group con tation of feeling on the subject. owing to the advanced stage to which the pros 1ect for . consolidation of copper pro- ducers had reached and the apparent cen.,nuaace cerry n,s n Of @ snosts to md way to vention of the principles laid down in the new interpretations of the anti trust law. Rumors current about the stock Exchange as to prospects of suc- to day and aimost from hour to hour. The feverish fluctuations of prices ip that group usually have a bad effect on the whole market. The market for copper metal is almost as much upset copper warrants occurred In the Lon- don market today. The demand from consumers. which was stimulated when an agreement I, to restrict productions and the whole trade suffers in conse- quence. tsf
 The vicissitudes of the prosecution of the American Sugar Refining Com- dation in that stock today, down to lls6 6-S, the lowest price level of the year. This was accompanied by re- ports of undesirable prominence to be given the company's affairs in the forthcoming Presidential message. with the chances of a Congressional inves- tigation looking beyond. Wall Street looks for possible effects from such in- vestigation similar to those which fol- lowed, the insurance Investigation and nervous feeling becomes manifest whenever the subject comes to the sur face.
 Another restraining influence on the speculation is the belief that the time for relaxation of the money market may be deferred. The continued with drawals of gold for shipment both to South America and to Canada are sig ni6cant of tho continued control of the local gold supply by London bankers. ing of loans from foreigners to New York borrowers and which are called for payment instead of being renewed. The official announcement of measures designed by the British Government to care for revenue requirements after the coming rejection of the budget by the House of Lords, Is awaited with interest and some anxiety in all finan- cial markets. The amount of Govern ment borrowing which will be neces- sary cannot be estimated until this statement appears.
 In our own money market future re- quirements are becoming defiped. New York City will sell s12.500.o00 corpor- ment of subscription to Pennsylvania stock will call for s24.s00,o0o on De- cember IS, on December 20 the New Haven stock subscriptions will call for $f2,500.0 poo fnstallment, while for Jan uary the S44.6Ss,000 of New York Gen. tral stock and $t0.2s0.0 on account of Missouri Pacific convertible bonds must issues already announced and more or dered.
 The strengthening effect on Wabash Ideal" rumors. the Rock Island sale of St. Louis and San Francisco and the repetition of Reading melon" rumors proved unavailing in face of these fac- tors of Encouragement. The profess sional bear party grew rapidly in the course of the day and found the mar ket increasingly vulnerable. as the at- tacks gained in boldness. The result was a closing in some disorder with prices rapidly declining and showing losses from to points and upward in the list. \ Bonds were steady. Total sales par
 United states 4s coupon declined l-4 and the registered s-s per cent. on call. CLOSING SHOCK LIST. ,,,.e,