The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1909-07-22
THE STOCK MARKET

New York. July 2l--Ths general tone
OF the stock MARKET 10 dominated yet
By the action Of the one or two Of the
fsyoffte. speculative stocks The
favoFfte since the end OF last wSek has
been Union Pacific Today United
States Steel re-asssrted its Sariisr
dominant Influence. The congestion
OF Nealangs IN few stoclD u IN evi-
dence OF thu narrownsss Of the mar
ket. The dspsndsnceso ON the operations
Of . few active spectators to effect
. price movement II apparent. While
stocks ere being bought by these
operators. prices advance easily, but
when they attempt to sell, . down
ward movement 10 almost as ready,
owing to .&fe small speculative demand
melted By the efforts Of the habituai
speculative element The. concentrat-
ed selling today In . few OF the most
Of such attempts at liquidation of Inn
portant accounts and served to intimi-
date sentiment.
There were reports Of Gales Of as
much e $4,000 shares Of Reading by
e single house and sales Of 10000
other house proysA impressive. The
insufficfent to overcome the stronger
,nIin.nce r, Of this apparently informed
lss 1? IN the first hour and being .
new high record and giving hopes 70
those who have predicted for three
a oay past that the price was to touch
The adverse effect Of the selling Of
United States Steel proved too much
for Union Pacific and 1t shared In the
rsps sr t q s. e sse
companies 100000 Atohison pre-
ferred stock. was looked upon today
mS5s e q movement owe; TO dispose Of such
the government authorities. Profound
Impression was made by the pointing
out that the market price attained by,
sy for sale Al profit since tRs severe
declines which followed its acquisition.
while other holdings in the COM
panies treasury are far short
. The talk Of Increase In Union Pacific
connected with the property and this
proved Encouraging to the speculative
manouvers IN the stock. The serious
had some depressing. effect on South
ern Pacific and was growing influ-
ence on the whole later market.
:. The selling Of y. 8. Steel followed
below that point as. it had done below
70 earlier In the week. The sugges-
ton OF sympathetic liquidation convey
ca by this action was not relished.
Developments regarding the stock to
follow the return OF j. p. Morgan from
abroad and predictions were less con-
ffdent Of an increase in the dividend
rate next Tuesday. The near enact
ment Of the tariff bill 10 coming in
for increasing consideration and for
conjecture over It's effect on stocks.
The favorable results to follow the
completion OF the tariff revisions have
been kept before eyes OF stock opera
tors for months 50 that q question is
arising whether the number of early
purchasers OF stock waiting to take
advantage of the circumstances may
not prove favorable. The opinion was
heard today that-some of the selling
might be by holders DESTROYS to escape
the possible embarrassment Of too
much company on the selling side.
when the tariff passes. -
The tone was weak at the least
Additional bills were made to engage
ments Of gold for shipments to ArEen-
to well over $4,000 an unprecedsnt-
ed single shipment to that destina-
ton. Significant Of the indifference
OF the money market to this depicting
force was the fact that the national
bank repositories have returned to the
treasury not only the 100000 of
government deposits called for July
10, but also. all but about 80, ZOO, 900 of
August Is.
Bonds were irregular. Total sales
par value. s4.096,0O0.
U. s. Bonds were UNCHANGED on call
CLOSING STOCK LIST.