The Montgomery advertiser., 1909-10-26
HE STOCK MARKET

| New York. Oct. 9E.-rhe speculation in sEockn today contlnusd to find ali
 ssn nssoav Soasy S5s mss.s in tSr
 1nfluences wore rsyefsed from the sf- to. the relaxasion in tho ssfereien money but not rsaiissd. The isttSr sxas ths case with the action of the Imperial on Saturday simcst cert esrfainiy j fo pssiss ssiss It's ofIlcial discount rate today. was taken for granted sIso that
 by . further riss in the Hank of Eng known by the time for opening of the. & insn bank auth sSsSorities i had aAs dsoided as S 1t mum dfscount rate. and the report of the condition of the bank offered ex- Isfrengthened. position disclosed. Not only was the bank showing of good effect on Berlin, but that center
 France had determined on @ measures to aid in relieving the international money markets What these measure
 5 es S 1os s, aResf ss ssns Ru sf Rs ssaace to efYect relief if such policy were to be decided to be wise. gave the report The gold holdings of the Bank of France now stands at $725,000.0oo. which Is S70.o0o. 900 increase over those of q year ago. while the Bank of Eng 6Oo. .ooo less than this time last year France. therefore. has caused long Ing slan,Sss to % be csss in It's direction ginning to feel the pressure of ristng interest rates. The Bank of France @ possessed of such authority over its ing with 1t largely matter in the dis- creti0n of it's Governors, and up to to- day no suggestion has been heard-of forward to supply any part of the de-
 It was this situation which made New York the most probable. point for from London. With the new aspect of affairs there was an easier tone in the London discount market and in York. There was another small en- here to Brazil and s75o.ooO additional direct shipment from here to London seemed less likely.
 The Saturday bank statement also had its influence in reassuring senti- ment over the money outlook. There was some revision also of the esti- mates of the volume of shipments of American securities coming home from London and which arrival here would call for banking operations that would make further demands on the money mark cts. Some of these contemplated shipments. 1t was reported, would be averted by the easing of the money tension.
 weakness in the copper metal mar ket in London was ascribed partly to the light money market. the heavy stocks of, copper which are being held calling for extensive credits. and this forming no small factor in the present situation. This selling of copper in London was without effect on copper securities in New York, which were leading features of strength in the days recovery.
 Large buying orders for stocks were expected for London account. and this influence dominated the tone, of the early market. The prices thus made were bettered to some extent as the day progressed by the volume of the market diminished greatly. The United States Steel quarterly report, to be published tomorrow. came in for some hopeful discussion. Covering operations by bears played an import ant part in the price recovery.
 The marking up of the price or American eagles in the London mar ket while bar gold was allowed to re. cede. complicated the problem of pos sibie gold exports from here to Lon don.
 Bonds were Irregular. Total sales, par value, $3.s2s.o00.
 United States bonds were unchanged ca call.
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