The Montgomery advertiser., 1909-04-07
THE STOCK MARKET
NEW YOnl6 eTOCks.

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 New York. April e--Ths demand for stocks today encountered an smount of offerings that overbofe the balance and carried the price movement back vance evidently was n ftsslf a main inventive to much free selltng which was speculative profit taking m large
 The profession onai bears were alert to take advantage of the wavering. ap- pearance of the market and to help on the decline with short offering down prices. The addition Of new stocks to price. M touehsa s in % sh. ssn sdvanes ss0i is the latter part of last year. brings the mar ket to state which is recognizei as critical as between the alternatives of of e movement at the extreme of a former stage as that on the contrary movement finds stage that has been held for some ume.
 All previous purchases thus come in with an incentive. in conseQuence. to sell. New ideas of Improvement muet be relied to carry the advance through such . stage. The aversge price of the ns about the level touched on the sustain ed advance which set in last year sfter the presidential election. Some of the most conspicuous stocks have risen of it. but the sysrSsss as usually com body of professionai traders in stocks which relies on charts q price move in the face of this condition until the market has givsn clear Indication or its new impetus.
 Other impsliins factors are not
 Soas ssm Sas ..s ss Ss .1i., its power to hold prices. Foreigners were disposed to take profits as well as home speculators.
 The fact that the present week in day, added to the disinclinatioh to ex- tend speculative commitments. Tomor- rows government crop report is await cd with keen interest and Is expected any decisive information Is given of the spring condition of the winter wheat crop. With wheat and cotton both at top prices of the season and ages to account for them, the stock market is compelled to take some notice of the subject.
 The conference on Thursday between representatives is expected to have . decisive effect on the immediate out come of trade activity in that connec-
 Beyond the coming three days holi- decision on Monday in The commodi- ties clause test case.
 The stock market has demonstrated its sensitiveness to this topic too often for it to be ignored
 The opening arguments in the gov ernments suit against the Stan lard oil Company at St. Louis contained some material for apprising any change in governmental policy in these prosecutions of appropriations which might have resulted from the change in administration. Nothing was offer ed, however. to foreshadow any great tendency, such as has been assumed in the discussion of prospects from the financial standpoint. The matter was commented upon in connection with the days stock market.
 Some very unfavorabie views of the steel trade positions was heard ani the heavy tone of United States Steel was of sympathetic effect on the whole market
 The realizing movement was under D. .scontrol and was facilitated by the sustaining effect of strength in special stocks without any special legislation in the news. The covering of shorts effected considerable rally at the eni of the day.
 Bonds were irregular. Total safes. par value. s5,3e2,o0o. United States bonds were unchanged on all
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