The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1909-06-02
THE STOCK MARKET

New York. June Ia hliip was given
lon being taken towards listing United
states steel securities on the Paris
piles Of capital aecumulatlons in
France which seek profitable employ
ment direct the longing gaze OF all
RroMo,ers ana security dealers 10 tnas
But French capital is as conservative
as 1t Is abundant and IL Is only the ia
yorsd few Of foreign enterprise that
ysstmsnt favor Of the masses In
France who control vast aggregates
q capital in small holdings. The
the United States Steel securities IN
the Paris Bourse under such capabls
auspices as those reported to the AS
ISOLATED Press represents a more $50
70. overcome the many difficuitis and
intrfcacies OF the Bourse regulations
and the French laws applying to for
One q the striking IL ing passages passage; in the
interview Of z. H. Hartman WITH
newspaper men before his sailing for
europe spoke in rather contemptuons
road companies need apply to foreign
markets to secure ready sale OF their
securities since he could sell $780,
100000 Union Pacilc bonds In New
among bankers and hnanciers general
iy however. that the department or
this country Is 50 far short Of its ul-
innate opportunity that resort to fer
able and to an extent necessary: The
chances of sales to foreigners OF Amer
lean securities mas special interest at
this time, when obligations are being
Incurred TO foreign money markets to
avoid or defer heavy exports OF gold
called for by the adverse balance OF
trade running fol-. several months past.
tai issues here and the later movement
OF exported crops are relied on to pro-
vide resources for liquidating these
obligations. The prospect of United
Bourse. therefore. appealed to the
speculative Imagination. The price of
that stock rose 70 65 5-s within u
short time after trading began. com
81 SIS at which It left on friday after
q three point rise on that day.
The price touched In London earlier
IN the day represented a New York
vance might be supposed to invite some
Justified BY new conditions. Profit-fa-
has ss ses bs IL fs q On "a. very rs
in steel was supplemented By the re-.
newal OF important speculative opera
TONS In ether important stocks, Union
racine signalized the departure of the
rise OF Ia points. The strength OF
the stock was not impaired by the
showing of decrease of net earnings
for April compared with last year, the
growth In operating cost having ex-
ceeded the Increase In gross earnings.
Tn egrowing ratio Of increase In oper-
ating expenses of railroads shown in
each successive month Is yuite logic.
ally due to the progressive decrease
In that item. which was goins on last
year .as the railroad companies gained
control of the situation offered by the
Industrial and commercial depression
and cut their outlay to corresponding
figures.
There were other marked advances
in company with United States Steel
and Union Pacific, but the upward
movement did not become uniform a.
any stage and suffered decided re.
straint In the dizziness of the later
trading.
The stress laid by Mr.. Hartman on
the crop results to insure the expect
ed degree of trade revival directed
added attention to the strength OF the
wheat market and to some further un-
favorable crop news from the South
west. A late recovery to the best
price in United States Steel left the,
general market irreguler In tone The
June payments made no impression on
the tons of the money market.
Bonds. were firm. Total sales par
value, &.o20.O00.
United States Fours coupon declined
Ia per cent on call.
CLOSING STOCK LIST.