The Montgomery advertiser., 1909-05-20
THE STOCK MARKET

New York, May is---The stock market has rarely met the death Of capital ist of foremost prominence with as lit- tie disturbance as was caused by the passing of H. H. Rogers, this morning. It was concluded from thls that there was little ground for the anxiety. pro- speculative position had become un- setahle and vulnerable
 From passive resistance to depres- slSn. .IS @ the tone rose to positive strength: could not well have had other cvnss- quenee. since the fear of over specuia- tion and q top-heavy condition ot reiapss in case of accident had been the sole unfavorable factor which could be pointed out in the situation. h. Prices hays suffered more n serious ,, s.t s.. death or serious Illness than happened today. following his actual death. MT. hogers nas represented to the Wall man. the central figure of the vaguely defined Standard on Group" which is the most potent of all of the dimly ap, From view ioSe nS sapnnasdiy wSn WorR srmeh witH the most important knowledge of con- ditions and control over their reign :. The sudden removal of such force may have disastrous consequences.to to speculative position as in the case of the sudden death of ex-Governor Flow. CT. in the crisis of an excessive spec AAatiOn III HtOchE WA6u nG ntQ utCh tuN controlling figure. Even where there compartments in the stock market, dc. cidad depression Is sometimes caused by the death of q man of the vast prop erty interests and administrative act- tvity of Mir. Rogers.
 The extreme effect today was meas ured by a decline of 1 s-s in the price of shares of Amalgamated Copper, of which company he was president, and of Is In consolidated Gas and in st Paul; of which he was a. di' bality quickly came to be understood in the general withdrawal of Mir. Rog- CTS from stock exchange operations Q. pet project Of the Virginia Railway, diverted all his attention. Further more. # was believed that the state ot induced his tI retirement nm % from n many any for ner activities and the placing of his affairs In order to guard against the event of today.
 lying condition of the stock market po- sition was not the less marked on &C., count of these explanations of the re- ment in the outlook which have been in abeyance for several days. came into play again. United states Steel. of which MT. Rogers was director. was consptcuously strong, rising through It's previous record price of 5s 3-4 10
 Chesapeake and Ohio AtN so also touched a price never before reached by that stock. The movement in steel was attributed to the restoration ot wages by the independent steel com. panies and he infereuces drawn from that action as to the return profits of the industry even at the lowered prices at which the recent heavy orders have been booked.
 News from the copper trade contin- ued very encouraging and buoyant rise In coppers was in progress in the London market when the decline in Amalgamated copper on account of the death of the president of the company checked the advance.
 Crop news was considered favorable in spite of the rise In the price of wheat. The further outgo@ of gold to Francs had no influence. Currency c9ntinueS to arrive in such volume from the inteNor as to serve as tn effective offset. The comptrollers abstract of shows an expansion of upwards of sl22, 100000 in loans since the date of the last reports on February five, while the comparison with May i4 last year shows a growth in banking credits Of S4,764,000. This showing for a pe- rfod when the use of credits for mer- cantile purposes was sluggish, reveals the extent to which securities have been absorbed by the banks, such hold ings being included In the loan account.
 Bonds were irregular; total sales, par value, $4,1I2, 900. T
 United States bonds were unchanged on call.