The Montgomery advertiser., 1901-06-04
VAL. oA -:~-. ->4t-I,
SPECULATION IN STOCKS AGAIN
 VERY ANIMATED.
Increasing Interest on the Part of the Outside Public Demonstrat- ed by Orders Executed by
 Commission Houses.

NEW YORK. June a-speculation in
 stocks was again very animated today
 nans;ne ine aealings showed substantial ex-
 character and volume of trad ng. the
 market . pore q close resemblance 10 that
 ,n the boom period. Strenuous efforts
 Interests to give 1t thaa appearance i. mere was an increasing interest on the
 nax of the outside public. demonstrated
 ,"usn en,,, the commission house orlers ex
 ecauted m the market, but the market
 sti!i continued for the most part in the hanus or professional operators and the
 arg speculat.v ve interests. Most of the
 puyipg is predicated on the confident as sumption that the powerful financial in-
 tefests Of the country have reached a de-
 aat:oa by tacit agreement to ad- ,o nahse pr,ces to higher level again. and !" sttsmp to renew the speculative con oitions prevailing before the up set in the second week of May. Buyers of last
 week were heavy sellers to take profits
 tooay and this selling caused a very gen erai reaction after the opening advance.
 which was fairly common to the whole
 nsI some of the stocks wh.cn were most eonspicuous in the opening did not moye tnan mold their own in the later dealings.
 Others continued to advance, while sIill others. which were strong early last
 week and then react d, renewed their strength In the late dealings. After the adopted Of advancing first one, then an- other stock in sequence. Realizing was continued under cover of these move ments. but the net result of the days trading was a substantially higher level of prices. At the close. after day of great activity and variety the steel of realizing after the opening rlse and closed on the down grade with only frac- tional net gains. Very conspicuous strength was shown by St.. Paul. Union cific and. in the final dealings, the Read ing and Fries. There was development of great speculative activity in Sugar. which carried the stock up an extreme
 The Tobacco stocks Colorado Fuel, Con-
 solidated Gas, General Electric and Pa
 cific Mail rose from to 4&.
 derstanding between the competing in-
 terests. In the market at large there was
 large specific news to account Tor the activity and strength beyond the penea Northern Pacific disputes carried with IL an assurance of concord along all tne railroad powers. The stock at the close were dealt in. One of the rumors current was that Northern Pacific stocks were exchanged for bonds to be jointly guar anteed by the Union na ,t,caSo pacino snd G dreat Western. The speculation was largeiy based on general considerations, such as that time had demonstrated that the stock market panic had effected the im- pairment of the prosperous business con- ditions so that speculative losses ad- justed renewed advance was In order. The impaired earning power of properties and the renewed accumulation or capital. 1t is argued, point to renewed demand for securities. The beliefs prevalent that still further larger readjustments in the reia-
 tions and holdings of the great railroad systems, looking toward additional sta bility of conditions are still In contempla- ton and. 1t Is argued that the panic in itself may have facilitated efforts to con .x. ta1A iau nf gaNnTttfa2
 with these ends in view. An easier tone In the exchange market indicated less probability of gold exports this week.
 Bonds were active and strong in sym pathy with stocks. Total sales (par yalue) s4700,000 United States bonds were all unchanged on the last call.