The Montgomery advertiser., 1909-06-08
THE STOCK MARKET

New York. June 7--The, speculative appetite for stocks had lost some of @ 's sSSss 'os os pssss and sharp break at the last There was Q moderate incursion of new orders to buy buy from the outside world such ,o.ns as Is inE during the progress of q specula- tive campaign and prices. as usual Tn the circunnstances. were opened as high wards those having stocks to sell ra- tnsr than towards the newly attracted fss s:~ .ess sSyss ana s as fact & w.s rus. Sn realizing sales was sufficient to wipe out in short order the initial advances. The market was held well in hand af- srations from one point to another. buying in fresh quarters to cover the selling of previously acquired holdings. was pursued as tr was last week.
 The offerings of stocks were not as readily absorbed as during the latter part of last week and some noticeable inroads on prices weresmade from tune to time. Reading was selected as the operations of the bull party. The man ner in which the blocks of thousands of shares of that stock were thrown about from one hand to another and gave an artificial appearance to the dealings which suggested suspicious of the motives for this movement. It was accompanied by unconfirmed rumors ot an intended increase in the dividend on the stock. Rumors of coming divt- depd increases played prominent part in the show of strength of special stocks. This was In marked contrast wits the severe rssstion in the priSs which got It's dividend increase last week. leaving nothing more to be look ed as 2 material tor speculative
 Another group of stocks moved in response to intimations that plans were ripening for reorganization of com pany finances this rumor serving Wa less influential in holding the rest of the market than proved to be the case in the sessions of Friday and Saturday of last week. This was partly due to ed to stocks In which the movements are of greater Influence on speculative sentiment. United States Steel and Union Pacific were both under pres. this in general speculative tone was rather formidable. There was no news of directly unfavorable character. al though one or two points in the situa- ton were of repressive effect.
 One of these was the closing of the Chicago produce exchange on account of election day and the subsequently, lsssened light on the grain crop news. in Kansas. The fact that the govern ment crop report is to be issued to- morrow. prompted some disposition to wait for that document for light on the crop situation. Some cogitation was spent on the complexion of the Sat- urday bank statement. with it's eyid- ence Of the heavy inroads making on credits.
 From the Southwest came reports that demand for currency was begin. ming to stir in preparation for moving the coming crpps. The hardening of discount rates abroad is beginning to prove a perceptible drag on speculative movements. There the Bank of Eng land secured the London supply of gold but the rise in the sterling exchange rate at Paris Is influenced as much by London's increased needs as by any relaxation in the Paris money market
 The Paris discount rate in fact rose today The advance in Paris cheque on London however relieved New York from demand for gold to ship to Paris New York banks are not satisfied that the outward movement of gold from New York ie over yer. An advance fp the price of copper metal failed to ben eft the copper industriaIs The bears operated timidly in fear of the demonstrated power of the bull leader ship and 1t was not until the end of the day that they attacked the market with any boldness. Prices gave way all around in the last half-hour.
 Bonds were kirregu1ar. Total sales par value. gy4TT36. 900. United States bonds were unchanged on call.
 CLOSING STOCK HIST.