The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1909-11-16
TIE STOCK MARKET


New York. Nov. 1.-THE upturn in
the prtcee In todsy's stock market had
it, incenfive in the greatly strengthen
cd positicn OF the banks disclosed by
the bank statement on Saturday and
rumors Of 4 comins copper conabins-
tion embracing most OF the worlds
grs.t producers ana sellers Of that
The action Of the copper sseuritiss
va. IN Itself, strongly conarmatory o. o.
conferences amongst the leading inter-
ests concerned pointed to the same
conclusion. No detailed information
could be secured OF the plan In con-
temptation. but that Il looked 70 some
the United states Steel formation By
an exchange Of interesting securitiess
into those Of new corporation ana
that 1t aimed to bring within fts
s scops the great s forsign , copper pro
was the current expectation. The in
terests of new combination were sup
posed to include centralisa-
ton Of control Of the sale
tion and an increase in prices. which.
It was asserted, would be modcrsts.
and coupled with restraint on the ad-
vanclng. as well a. declining tendency
Of the price. The influence Of tho
OHlt60 6iatcB 6tCck SOERON4tioH ~
Justify the hopes of a cure by this de-
vice OF some OF the evils of the copper
trade and the enormous profits realized
out of the United States Steel Corpor-
alton Organization by the stockholders
formation was cited as : possible pre-.
cedent for the present time.
The leadership of the market swung
into the copper industrials and thcre
was excited speculation In them not
- 1~.. T. ~.
side markets A powerful combinaticp
TO hold up the price OF copper was
looked to hopefully to bring numerous
minor copper properties into the range
OF profitable operations. The general
om e wss oGa e T' s.. nsDss e N
any enthusiasm. The days market, In
fact, was spotty throughout The
Gould stocks we're conspicuous as o
group. the conjecture continued busy
which was reported to contemplate =
mortgage bond with convertible
feature and possibly q subscription
privilege for stockholders
Sentiment was more TRANQUIL over
the money position. but there remain
moderation In the speculation pending
the working out Of the year-end ne
oessitiee. There IL no fear that money
supplies will be lacking for commercial
RuEposch anu hopes are lnuuike0 tHdf
the speculative position also will be
safeguarded.
The powerful efforts making to that
end are deducible from differences out
side the regular banking channels.
The contraction OF nearly 10000. 900
In the loan account OF the clearing
house banks last week and the small
disturbance In the stock market IN
VOWED point OF other sources OF RELIEF.
Reports that French funds were
placed here met with divided accept-
ance. Attention turns to the scaling
down of over $40, 100000 in the depos-
its OF non-clearing house institutions
accompanied bv an actual increase In
loans. It ID known that large loans
were placed in Wall Street last week
by important private banking houses,
bearing close relations with the larg-
est corporations. IT II believed that
surplus treasury funds OF these corpor-
ations thus found their way into en-
ploynnent in the stock market. without
figuring In the loan account Of the
banks. Further gold exports were UNI
der discussion but rise in New York
exchange ut Chicago to par indicated
a relaxation OF pressure on this center
from that direction. Foreign dis
counts were also easier. The violent
break in American sugar was accepted
tivities OF the public prosecuting ofn.
Gals.
Bonds were irregular. Total sales
par value, s2,i0s.000.
United States bonds were unchans-
ed on call.
CLOSING STOCK list.