The Montgomery advertiser., 1909-12-15
THE STOCK MARKET

New York. Dec. ll---Ths stock mar ket today was still characterized by the wide movements m stocks nof usually. prominent In the dealings. these sdvancing prices wss Sccornps- nied In some casee by ideal" fuinars and in other cases had 10 other appar- ent cause than the purpose of marRst es.s1 Sacksrs to addust sss. the price level ss other points in the list.
 Many of these movements carried with them q suggestion pf window dressing purpcses in preparation for market auosations appear In balance sheets. Of annual reports ta mark the valuation of iuvestments. Here and there were slight signs of rs-fnvesf- ,,sn msnt demand. in \. s,a snticipaiion Of ,s.
 In the bond market. where such de- mand Is usually most marked. it has made no perceptible impression at all. the demand Tor bonds continuing in-
 Such signs of investment buying as were seen today were in some Of the high grade railroad stocks. The spec and Irregular. The active strength Of the first hour seemed to be taken ad- vantage of to effect some distribution of stocks and the tone was dropping knereaEIef. The actlou CT FSaQin8 was of large sympathetic effect in this result That stock. after early strength, sud of on the report that the meeting of directors to act sn the dividend was tc be held tomorrcw. increase at that time. while tho spec ulation was less impressed with so ifn- minent prospect heretofore than with the similar rumors of projected Increase in the Southern Facahc to be n a 2
 Attention was attracted by report fhar the United States Steel Corpora ton would assign preferred stock for subscription to employees to this year in pursuance of the profit sharfng plan Instead of common stock.1 for which the employees were allowed tc sub scribe at 50 last January. with satis- factory results in the years move of common stock assignments at that time instead of preferred stock had the effect of creating an impression ot a recommendation of the investment in official form.
 There Is feeling in stock market circles that the pendency of the American Tobacco case decision by thu Supreme Court at Washington will, prove q drag on speculative snthusi guments In the case to January 3. gave occasion for q comment of kind which implied the high importance at- thcned 10 tniS case Dy the KOyefEnfeps authorities in it's bearing on the whole scope of the Shertman antf-trust law. Preparation for enforcing the cor. poratiOn tax and the publicity involv. ed in the process are a cause of dis quiet to corporations. Adroit use is being made In the speculation of the varying rumors of the merger of the so-cailed Guggenheim copper proper ties. of which official details were lacking today.
 Interest rates for sixty-day and slx months loans were lowered today with increased offerings and lessened de- mand.
 Call loans again touched five per cent. although heavy disbursements for tomorrow, including the standard oil dividend. did not seem to affect the market. Foreign exchange rates were higher again and gold was engaged for shipment to South America He- mittances to London are in progress for payment of interest and dividends to foreign holders of American secur- ities.
 Bonds were irregular Total sales, par value. $3,5220e0
 United States twos advanced 1-S per cent on call.
 CLOSING STOCK HIST.