The Montgomery advertiser., 1909-11-13
TIE SHOCK MIRKET

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 New York: Nov. ls-rhs slussish msrsa as tOdsy sSftsa sn eonso s nance with the varying view of the
 Supplies of money on call at fve per cent And below during the earlier part banks we're within Islcs their rsssrvs i iimis mt 20 that call money borrowers would not be pushed for payment Later, the appearance of preliminary estimates of the weeks currency movement and the of gold for export removed anxiety and the call money rate again stinened. The out-go of cash during the week has been much larger than was sup posed, the baiancel against New York on the export movement running appar day night There were additional large shipments to Chicago today which will ftgure in the actual figures of the bank statement tomorrow.
 ;. Sub. treasury operations and gold taken sl.ssl.ooo. thus running the cash loss on the known movements of money up to near $lo.o00.0o0 one Of the largest cash losses for any one week In the present year. a The date of shipment of the million and half dollars geld engagement to- day for South America on London or- der Is not known yet The bank which made the largest engagement called loans today to the extent of many mill There was some fresh supply from other sources. including. 1t was said, the dry goods banks of this city, ow- ing to Hull in trade requirements. Authorities differed as to offerings of money from foreign sources. There was significance perhaps in the fact that London financial authorities are complaining that the joint stock banks
 there ss s ns o h0Sns up s tns snas attract gold from outside markets. The special demand for cash from Chicago Is said to be urgent and is connected with the expectation of an early calling from the Comptroller of the Currency for . statement of the condition of the banks. The imminence of this call. 1t is reported. found some of the Chicago banks below the re. serve limit. A good proportion of the New York Clearing House banks were serve limit in the detailed bank state ment of last Saturday ,and their neces.f sity for recuperation is factor in the money market position. The rise Tn loans but to time loans and the hard ening tendency extended from the shorter to some of the longer periods Asking rates for ninety days were ad- vanced fraction during the day.
 A feature of the narrow speculation was It's diversion to low prices of stocks, both industrials and railroads.
 The limited resources in the money market make operations in these low priced issues more feasible. owing to the smaller sums required by commis- sion houses for holding them for cus- toner's This constituted the only reason for the movements in most of these. The sharp falling off in the weeks exports of copper compared with several weeks past gave an irn- pression of a waning of the reported demand for that metal. although the price was advanced again in London today.
 The force of the demand for iron was reported to have spread to the foreign market, leading to purchases for import. Stocks fell to the lowest of the day. when call loans rose to six per cent and then hardened when the rate eased off.
 Bonds were steady. Total sales. par value, $3.6S0,000. fsse
 United States bonds were unchanged on call.
 CLOSING STOCK LIST.