The Montgomery advertiser., 1901-06-21
WALL STREET REVIEW
THE HIGHEST PRICES WERE AT
 THE OPENING.
Afterwards All Rallies Were Met by Realizing Which Drove Values
 Downwards-The Market
 for Bonds Active.

NEW YORK. June IO.-The openine prices Of stocks were at the highest av- craze level of the day, and all rallies. of wnlch there were several of some slight which drove prices downwards. After the opening squirt there were developments of strength here and there in individual stocks, but they were in the class of se- in the trading, and were without great sympathetic Influence on the list. The descent from the opening high level was considerable, but selling pressure showed down to about last nights level. In fact. there was no severe pressure to sell at any time and the market reflected rather the disposition of the class of large speculators to refrain from operations and let the market lie dormant during the period of doubt regarding the capacity of the money market to afford resources for speculation between now and the turn ot the half-yearly period. The volume of dealings showed notable shrinkage and fell below the half-million share mark. which Is the lowest level touched since the Presidential election. Even this on the congested dealings in a few stocks. notably Amaigamated Copper. This stock was under pressure all day and fell an extreme 3% under last night. with a final rally of points on the declaration of the customary 1k per cent. yearly dividend and E per cent. extra. This selling is said to be In large part due to arbitrage operations against buying of stocks cii- gfole for exchange. Colorado Fuel con- tinued its sensational fluctuations. falling at one time points under last night and 2s1A under the high price of Monday. but rallying at the last to a point above last night. General Electric was bought on the reported acquisition of the British Thompson Houston Company and the stock being in very light supply. the buy ing lifted 1t Is points by wide jumps. apolis and St. Louis. and the Iowa Gen. trai stocks, which rose 4G4h on rumors of merger and final absorption by the Illinois Central. The strength of Chl- ing that the Western railroad situation will necessitate its control. The early strength of the market in sympahy with London was clearly due to the improve the Government is making haste to re- disburse the resources of Tuesdays in- stallments of consols subscriptions. Doubts. however. continue over the lo- has already taken from the market this week $2.360.OO0 which includes the pay ments for the gold exported. The sale at auction at Washington today to sat- iSfy Government lien of the Sioux City and Pacific Railroad Company to the Chi cago and Northwestern will involve the further payment of the Government of nearly $2,00O.0O0. although period of New York exchange at. Chicago to 25c premium per thousand shows that the in terior Is responding to the pressure for funds at New York. The very heavy re- interest and dividend disbursement of July 1. which must be met next week. ad- monish to continued caution in over straining the money market for specula- tive purposes. This and the subsistence of the talk regarding the St. Paul-Unlon Pacific deal sufficiently explains the dull ness and heaviness of the speculation.
 The bond market was moderately ac- tive and irregular. Total sales. $2, ,000 United States bonds were all unchanged on the last call.