The Montgomery advertiser., 1901-07-11
WALL STREET REVIEW
uNEAsINEss OVER FUTURE OF
 MONEY MARKET.
Liquidation Was in Large Volume During the Latter Part of > the Day-Bonds are
 Fairly Active.

NEW YORK. July 1o.--with call loan rates yielding to lower figure it was nevertheless apparent today that uneasi- ness over the future of the money market was the principal cause of the renewed weakness in stocks. Anxiety on this point was somewhat relieved yesterday by the indication that July disbursements were beginning to come again into the market, but it was revived today by the engage ment for export of s75o.oO0 in gold.
 Liauidation was in large volume during the latter part of the day and seemed to come from all quarters The active sell ing by commission houses reflected the outside public's share in the movement. The larger part of the dealings and the the same stocks as for several days past. notably St. Paul. Rock Island, Atchison Missouri Pacific. Union Pacific and Leu isville but the list was very generally af- quite fully in the days weakness. Indica. tons went to show that speculative buy CTS on the recent past and even long time holders. who refuse dto be shaken out even by the May panic, were among the sellers. The growing conviction that there would be sufficient ease of money before the fall demand for moving the crops to incite to active speculation was borne in on spectators who were holding large lots in anticipation of midsummer buying movement and they threw over stocks in large volume under the convic- tlon that the money conditions might be worse before they are better again The gold export was the most important fac tor in causing this feeling. The fact that interior banks are already feeling the de- mand for money from the agricultural centres is an indication that demand on New York Will come unusually early this year. A possible source of relief was by imports of gold from abroad and foreign money markets have calculated upon sup plying gold for such a movement. An outward movement of gold after the Julv seItiements abroad and when exchange pills against future shipments of grain are already in large supply in the New fork market comes as shock. Probably the unsatisfactory financial conditions in
 iermany explain the movement. which must De special one. although the plans or the Austro- -Hungarfon Government to attract gold for currency purposes may have its part. The announcement of the engagement found the market well above terday's recovery. but liquidation set in at once and was continued in increasing volume until the close. which was active and weak at about the lowest The net such figures as the following: Rock Island. &; St. Paul. 5%: Atchison. 5Ss: Union Pacific. 5A; Missouri. 4M: Kansas ana Iexas preferred. "A; Louisville and Nashville. 4as: Iowa Central. 5: Iowa Gem trai preferred. 7B; Chicago and Eastern Illinois. ;.
 In other prominent active stocks, in- cluding some of the eastern trunk lines and leading specialties prices are between 2lz and points lower on the day The steel stocks are about 2 points lower The unbroken drought in the corn belt and an effort to discount the expected unfavorable showing of the Government's monthly crop report were clements in the weakness of the market. but were not sufficient to account for the general weakness shown.
 The railroad bond market was fairly ac- tive at lower prices. Total sales (par yalue). ss,oa5 GOO. United States refunding 2s declined A per- cent. on the last call.