The Montgomery advertiser., 1901-06-11
WALL STREET REVIEW
LIQUIDATION A FEATURE or
 THE MARKET.
Supporters of the Market Were Energetic in Bidding Up the Market and the Bears
 Took Fright.

NEW YORK, June 1o.--There was some ilquidation in the stock market today a., Tas 1oreshadowsd by the drop in prices saturday after the bank statement ap- peared: The bears who sold stocks at that time continued their efforts to get prices lower today and to extend their pronts. A number of developments helped them in this purpose, but after the pres. sure of the selling hal been relaxed an1 the supporters of stocks began to bid up prices again, the bears took alarm an1 began to cover their short lines, causin very general recoveries of losses and in q fewstocks quite notable net gains. As long as trading was going on m the London stock market. the feeling of de- large seller in this market and there was a feeling of some uneasinsss lest the gloomy tone there foreshadowed some un- favorable development. This weeks Lcndon stock Exchange settlement is somewhat dreaded. although assurance IS given that the shorts in Northern Pa c;nc are fully prepared to meet the de- cfsion today of the Stock Exchange Com MiItee m ending the moratium granted 10 the Northern Pacific shorts after the corner developed in the stock The per- sistent heaviness of consols in face of sHe growing ease Of money in London slves rise to some dread of a secret deve.- opment n diplomacy or internal Govern ment policy. The heavy demands dis closed by the bank statement on bank ing resources here caused some uneas si- ness. as 1t was not known how much fur tner they might proceed. Payments for the $60.0O,0o0 worth of the new Pennsyl- vania stocks are required between June Il and June l5 so that the needs of that account might run over a period, to come. The easy rate for money today caused a more cheerful feeling. however, and en- couraged the hope that the requirements been mostly satisfied for the present. This was a potent factor in the latter rally of the market when the adjourn. ment of the London stock market had relaxed the pressure here. The mystery attaching to the purchase and conso.i- dation or some of the independent steel companies was made much of by the the steel trade was imminent between the two financial groups which figure in the Northern Pacific quarrel The steel stocks lost 1ss and 1h, respectively, for the common and preferred during the period of weakness. but rallied to fraction over Saturday. The bears were also inclined to discount their sIppos.tion that the Government crop report. which was not the stock market. would disclose de- cided deterioration in the condition of cereal crops: Some sharp gains that had been established in the Southwestern sell. stocks in that group declining in sympathy with the general list. Rock Island fell as much as Az from the best, St. Paul 31z and Missouri Pacific 3A. The leading industriaks showed rather acute depression sugar falling nearly f. Amal- gamated Copper BE ani American To- baco. Peoples Gas and the New York public uti ities from l% to 2N. The late rally left the net changes significant in, only a ow socks. Missouri Pacific rose very str ~-,y to l20 in the late dealings. which -.s points over Saturday. The Soutt ern stocks generally, Southern Pacific, Atchison and Union Pacific made notably good rscoveries and Pennsylvania was lifted a point over Saturday. The closing nevertheless was slightly irregu- lar. American Linseed rose Sk and the preferred sa on the buying of only l0o shares
 The bond market was only moderately active and showed some irregularity. but was in the main firm. Total sales, g. 420,- GOO. United States bonds were all un- changed on the last call