The Montgomery advertiser., 1909-05-25
THE STOCK MARKET


New York, May 24.--The speculative
movement In stocks was .hanipered to-
Gay by the appearance OF an 'incipient
lions made By profsssionai crop ex-
perts regarding conditions IN Kansas.
missouri and Oklahoma was dislike 10y
the bulls In stocks. although highly
~ By ,hs n su gsy y Ssss pris:
iowance is. made Tor the highly speeu-
lative condition In the wheat market
quoted experts with brokerage houses
interested in the effect OF news on
market quotations. There was, how
ever, snough color OF carroboration FOR
the region Indicated from the reports
receiyed by railroad officials from their
agencies along the line to make re-
ne,asn 81 aanuspee on r, sentiment sn,n aro mne
nence the Importance to be attached
10 the crop outcome to insure the pros
porous course OF events which IL so
cent action Of tn, stock market. It
was reminder also of the possibility
OF working up crop scare. OF much
portenfions showing which might serve
stocks II 1t were entered upon during
the crucial period Of the growth Of the
crops This was the only cause dis
cernibls for the check 70 the speculs-
tion which started fairly enough in
continuation of the movement in prog
ress on Saturday. The promise Of the
Improvement In the banking position
pisxion Of the Saturday bank state
fnent
The call money market was appre-
Gladly easier and the course Of the IN
tss slsnnsse q fsrshs sa Exports
OF gold from New York to Paris. The
London supply OF gold went to Aus
tria without competition from Paris.
at Paris and receded in New York suf.
fciently TO wipe out the margin OF
Rront on the movement OF gold 70
sidsred suspicious for the further new
bond issues which confront the market
n,n inc coming sale OF $4,000. 600;
S was buyer p 81 Stocks In this market
and better views prevailed OF probable
forstgn demand fer new bond issues.
London also helped the early strength
vancing In price. in that market and
lively speculation In copper mining
prices was an accompaniment. This
early efforts to get prices up were
Individual securities or groups. The
conspicuous strength Of Northern Pa
rltin and Great Northern preferred was
tFdCedDlS To. TutuoTb Oh Intcntion 10
raise the Chicago Burlington ana
Quincy dividend to q 10 per cent. rate,
The bulk OF such distribution would
20 to the two Hill companies through
the Burlington stocks on the issues
against the 4 per cent. collateral bonds
outstanding. There was a movement
In group of the Independent steel
industrials which pointed to common
cause IN this case a report of an in
tended combination or closer working
OF those companies together. Unit
cd states steel itself was strong,
touching a new high record. A favor
able Impression was made by the de-
termination Of Fall River manufactur-
ers to forego their privilege OF reduo-
ing wages undsr a sliding scale arr
rangement. the action being received
rs an evidence OF confidence in the out
look. From railroad traffic officials
came some information OF the contin-
ued checking effect on business aetiv-
ity Of the delay In the tariff legis-
latfon. The successive departure of
many men prominent In financial af-
fairs for prolonged absences Is taken
to foreshadow a period of uuietude
in the working out of financial pro-
1ects. The smart rise in the Fries at
the end OF tbs day was taken to indi-
cate an early announcement of financ-
ing. This helped to pull up prices
elsewhere and leaves net prices little
changed. Bonds were irregular. To-
tai sales par value S3.66e. 900. United
States Bonds were unchanged on call
CLOSING STOCK list.