The Montgomery advertiser., 1909-09-10
THE STOCK MARKET

New York, Sept. e.--The stock mar ket started out today with the supposi- adjusted to .M:it % the fos9r ns1. from "shs ar' ther feverish excitement.
 Hss u:, 3t s sSsss a asass sss stock exchange closed. The early deaI- ings were on small basis and prices
 sbsss sas issy s yr.p ..s .aS The Aew relaxed later and when the daily crop Si r ramors and eontradietions began to set In was converted into precipitate decline Support seemed to be with drawn % and the market lef, to take care the volume of the selling Wss not large and appeared such as M1ght have been taken care of by the powers which in the recent past. The conclusion was drawn that 1t had been decided by the packers of the market that prep mors effective Sy SOs to hold prices artiicia1ly at the advanced level. That opinion in the financial Somhnnity Soran,s .s,m wa. prspareS for an unfs. illness illness wAs clear and was. not dis sssan ssss on on 9,s the tcPic of the probable et These varied as widely as between prsdictions of . probable rally in the mar rket on account of an over-extension Sies Uf snSrs interest and dire proPhes market. It was noted with interest mat an active borrowing demand ex- isted for Onion Pacific stock in the of stocks assemble to nli their tempo. rary rsqutrements by borrowing stock g sd. TOT delivery. This phase of q short in much conviction to profsssionsi Sa sI stock stock meeting Of the uniSn Paelass. # shnSa %ss sged mana or nag th stimniatsd i1na borrowing de. representation. This explanation did not aiiay anxiety on the part of the st9,cxnoiders, SUCK 70 as t served to give some m the company, and to revive attention 20 the charges made by Mir. Harriman's s sriends srtH ds 9r an , attempt to raid the prop nation of the borrowing demand for Union Pacific was that 1t represeuted Sesise5 Se,ss 9y Insiders in the property who borrowing stock for delivery rs,her than appearing openly as sellers.
 The belief that a breach had occurred amongst interests hitherto acting in consort In this property gave greater eredence to reports that this difference nad spread into the banking world and innvoiyed important interests which had troubled period during the financial panic, when spirit of co-operation was rlIe Cables from abroad indfcat. ca an apprehension among the foreign. CTS mat the integrity of the market pool in United States Steel was threat. ened by this rupture. The amount of the loan which this reputed pool is car rying Is estimated at enormous figures owing to the determined absorption of that stock at all levels and against all opstaclss which has been long evident, The special weakness of the Gould group was due to the supposed interest MT Hartman has shown in the long contemplated financial plan for these properties, and which it was feared might be pretudiced by the new condi- tlon. Money rates were not affected. but intiinations from lenders of money involved involved m speculative holdings of stocks doubtless had a share in the urgent unloading that was in evidence. Professional bear selling was a con spicuous factor and the demand for tnis element to cover short work ed the substantial rally from the lowest prices of the day. The break resulted in car rying prices considerably lower than were touched in the slump on satur- day, August 2S.
 Bonds were weak. Total sales. par
 United States bonds were unchanged
 CLOSING STOCK LIST.