The Montgomery advertiser., 1909-04-24
THE STOCK MARKET

New York, April as-There was some
calling OF loans going on today by the
banks and the search for renewed ac-
s sss whiie Without ,1sl,,s
had the effect Of inducing some spec
uiativs Liquidation. The call loan rate
touched . per cent, which IL higher
sSsn snss ~ The ss: ~sss In JsnSssy
anced the purchases ana some renewed
anxiety over the situation In Turkey
was Inferred from this and the special
, wsssnss q Tarkiss bonds - che Er,
possible factors to induce weakness In
the stock market. There was no
change in the general tenor OF the news
ppess Revised iss q Crop
poets continued to come. indicating
larger Yields as compared with the Sc
vereiy Impaired crop which was held
II ys sy T .s . ns bS Dusss Sp assn
I've eye was kept upon the wheat quo
tations In Chicago however. with the
idea that the revulsion OF sentiment
hs sad ff 70 san ns nu% options ON mn ss
real crop situation. The opening bulge
In wheat caused some chill to the spec
ulativs sentiment IN the stock market
partly effective In auietinE apprehen-
sion. The calling OF loans by thu. banks
evidently was for the purposes OF meet
ing demands on their resources Incl
bonds. Rsiiroad corporati9ns have ns-
ured chiefly In these new issues. but
the announcement today Of the $4,000
600 bonds by the corn products COM
s aiol W Reports cohtinue %, u
the readfness with which these bond
Issues are passed from the hands of
the underwriters INTO those Of Sec
are cerninr forwars a. subscrihers no
some of the railroad bonds and the sup
ply OF exchange thus helps to account
for the tone OF the foreign exchange
hardening money market also has its
natural effect against the tide OF remit
tnnces abroad. Estimates Of the weeks
currency movement indicates there has
holdings OF the banks, Inc spite Of t2.-
100000 OF gold shipped abroad. Sub
treasury operations yielded s2.51s,o00
so that the net receipts on the inte-
rior movement went .sil TO the advant-
age of the banks. 1t is believed that
the interior receipts exceeded the ship.
ments 20 the neighborhood Of $4,000
goo, Withdrawals of s2,50o.00o gold
announced late in the day. There was
marked subsistence In the rate Of alb
sorptfon Of bonds at the stock ex-
change today and this also might be
look IN the money market Bankers
are Beginning to consider possible adj
vances IN interest rates. The awak-
ening OF any active demand for money
from mercantile sources or the begin
ming OF an interior demand for crop
moving purposes which might shift the
tide Of. the currency movement would
be likely to make impression on..money
rates. Favorable Incidents were ig-
nored by. todays stock market, al
though there was some stocks here
and there which, made q show Of
strength. The belief Is unchanged that
an agreement is imminent between an
thracite miners and operators for a
dage settlement. The more hopeful ru-
mors OF the complexion OF the forth
coming. quarterly report of the earn
ings OF the United States Steel Cor
poration were heard still, but with i'm
paired influence. The shorts showed
some urgei.cy to cover In the late mar
ket. but the closing tone OF the mar,
ket was generally weak and showed
losses for the day. A.
Bonds were irregular. Total sales
par value, SS,07s, 900.
us. bonds we're unchanged on call.