The Montgomery advertiser., 1909-10-20
TIE STOCK MARKET

New York. Oct. Is.--The salient fact discernibIe in the stock market today was the increase in speculative inter- est Doubtless the primary cause of money market. although the imme- diete tone of money is easier In New York than was the case last week or the week before. Apparently the spec hope that this relief # to be free from interruption between now and the end
 The tone of the diminished specula- ton today was greatly unsettled as was witnessed by the unceasing and Irregular fluctuations of prices. The hesitating tone gave rise to much sur mise as to the cause and these sur mises constituted the principal news of the day. Some of them were Tn the form of disturbing rumors which had their origin ostensibly in London and which pointed to an over-extend- ed position on the part of bond houses which subscribed for some of the bond issues which are known to have proved slow of sale as consequence menf demand for that class of securi- ties. The rising interest rates for money is not calculated to stimulate the bond market.
 found not to have any basis in fact. London was seller of stocks in this market to the accompaniment of some of these disturbing rumors; There There sources was ssies nesr.p 9n home ssd which proved enlightenfng as to the character or some of the preceding buying which had been relied upon as coming from well informed and powerful capital sumed 1t was safe to follow. In some of the profit-taking sales today. there was suspected . closing out of indi- ,,,s t tbp hundrsS thousanda mark Of a purely professional kind. Operations on that scale by board room traders created sentiment of distrust oi formation on which the previous ac- lcumuiation had been based
 This feeling was emphasized by the approach of the quarterly meeting , oa and the doubt of the kind of stock market response which may be made to even the most favorable outcome or that meeting. in view of the prices p,,cs,a a,t T f assertions of coming events that have accompanied it. A feature of the sit uation that arouses much con1ectvre the srEst which Hi tms made Further advance today with the continued oe- mand for remittance.
 This movement suggested the extg- repsyment of maturing indebtedness and the effect this might have on the necessities yet to be met by the home market in connection with the further movement of crops and the expansion of business activity. The measures taken by the Bank of England to make it's rate effective In the open market and the response of the pri- vate discount rate In London indicates the determination of the bank author tiles to attract resources to that cen ter and to build up their position.
 Tn this connection special interest nlacing of a block of St.. Louis and ana San Francisco refunding bonds with bankers in Germany.
 Participation by foreigners Tn some of the bond issues. that are in con- temptation are much relied upon 70 take up the heavy indebtedness of the New York money market.
 There was a disposition to dweii a great deal on the legislative outlook as containing possibilities of distur- bance to the stock market upon as- sembling of congress. The points or strength in the market were sporadic, eccentric manner that made an ex- planation puzzling. Violent advances on small transactions in. the express stocks were due to the advance In the Rumors persisted of a coming conn |bination of copper interests with some effect on copper securities The Soutn- ern group of railroads felt the iniiu- ence of the Haley deal in Missouri. Kansas and Texas, and mysterious tn- tirnations of a possible further scope for the plan involved in that deal. The sustaining influence of these move move ran off again. closing at about the
 Bonds were easy Total sales pa, value $s.370.000.
 UaSh bonds were unchanged on call
 CLOSING STOCK HIST.