The Montgomery advertiser., 1901-06-08
WALL STREET REVIEW
ONLY A FEW POINTS OF ACTIv-
 ITY AND STRENGTH.
Majority of Stocks Were Dull and Sluggish, Moving 1rregularly Under the Varying Opera
 tions of Room Traders.

NEW YORK, June 7.-In today's stock market there were only a few points of activity and strength and the majority irregularly up and down under the vary ing operations of room traders. There were some large transactions by the ing for various financial leaders. but they were so mixed on the long and short side as to add to the speculative confu- sion. The volume of dealings showed further falling off from yesterdays de- creased total. The opinion prevailed that the closing out of accounts earlier in the week was in preparation for the Summer holiday season and promised period Of comparative dullness and idleness in the market. Whatever points of strength were shown in the market seemed to be due to individual causes. Louisville was notably strong and the buying was ac- companied by talk of an increase in the dividend rate, which was, however. depre- cated by insiders. Missouri Pacific and ing the wabashes. which were affected by realizing. The story recurred that Missouri Pacific is to be placed on a per cent. dividend basis later in the month by the declaration of a lump dividend, and that valuable rights in addition are to be declared. The movement in Balti- more and Ohio seemed to be based on reports of the conference between Penn sylvania and Reading officials, presumably to arrange measures for the benefit Of the Baltimore and Ohio. The New York pup lie utilities were generally anected py hopes of relief from the franchise tax, and in addition Brooklyn Transit put out a report of good net earnings for Aprll. The Tobacco stocks were subject to ac- tive speculation on the orsanisat,on ha s,ncSs Cs were feverish, receding early on realiz- ing. but rallying on published assertions of formation of an underwriting syn. tie up half of the proposed debenture bonds and keep them off the market.
 The Continental stocks show net gains of about point, American Tobacco SS' % There were besides many usually neglect ed stocks which advanced from to points without any news to explain the movement. Net changes as rule are not significant, but the sluggish fluctuations, not taking prices far from last nights s | level, although the extreme range, from high to low ran from l to points Tn tne paid to the money market, but the eau I loan rate ran up to fA per cent in the | late dealings. On Monday the fourth ana l subscriptions to Union Pacific convertible bonds. Preparations will begin next week | also for the payment of several dividends due the week 0 aft afser are that ] the cash changes to be shown by tomor- rows bank statement will be less tnan | half a million dollars. will prohaoly pc l gain for the banks. The nrmness or tne I sterling exchange market both here and l in Paris, in view of the reduction of the l Bank of Englands rate and the easy dls- l counts in London attracted consideraple attention Remittances on account or the | next installment on British consois, Whlcn | falls que on June IS, is factoT at potn
 centers. Paris seems to be transferring large amounts of capital for investment in the London market besides. New 4orK | is making preparation to meet the June | N dividend and interest obligations m | London, Besides. London was larger
 seller of stocks here today. The excnange
 market was thus held firm at what was
 the gold export point for the last out,
 ward movement, but no gold was engaged
 for export. ,,.s ,r-aou.
 lar. Total sales (par value), $ZooS,oVs
 limited States bonds were all uncnangeu
 Money and Exchange.
 NEW YORK, June 7-Money. on cal
 steady at 3d3h per cent; last loan and
 ruling rate, per cent.
 Prime mercantile paper. S%@4h pei
 cent. ~ , ,,.,-
 Sterling exchange firm with actual bus
 mess in bankers bills at 4.8SAQi.S SS4s tol !. demand and 4S51zG4S5% for sixty days
 nosted rates, 4.S6 and 4.S9.
 | Commerc al bills. 4.S41sQ465. | Silver certificates, nominaliy oO par sll
 yer. 591h: Mexican dollars, AS.
 NrENTn