The Montgomery advertiser., 1901-06-18
WALL STREET REVIE'
VIGOROUS ATTEMPT TO MAIN
 TAIN PRICES FAILS.
At the Close Advances Were Gen erally Wiped Out, Notwithstand- ing the Show of Strength at
 Opening of the Market.

NEW YORK, June 17-The stock mar het made a vigorous attempt to maintain prlces i, today, notwithstanding the chil.- ths esIect or heavy exports of gold and ens hurry in the money rate to five per cent put the general show of strength at the opening was forced to succumb to enns ents oevelopment in spite of the persist ence or some notably strong spots. The closlng showed advances very generally wiped out, except in the few stocks which moved against the current St. Paul con tihueu to be the most conspicuous of these, and the strength in that stock was supplemented by advances in various oth- CT railroad stocks from individual causes ana py Duoyant tone for the independ- ent steel companies and few industrials. Missouri Pacific was slightly affected by the dividend. The action of the market on saturday, after the appearance of the bank statement. had been sufficient mo- tlce that the financial powers that they were prepared to ignore the showing of that statement. and to continue their ef- forts for an advance. The opening was strong in consequence, with 15,000 shares or St. Paul taken at spread of 21s points, the quotation on running sales varying from 1s1h to 1S4. compared with l'0 on Saturday. The stock touched 1853 la.cr In the day on enormous dealings. The be- lief Is all defined that an offer is to be made of per cent at the ratio of 200 at par Of the bonds for 100 at par of the stocks. as was done for the Burlington
 As certificates for Burlington are ruling at 196h, that price seened to be the ob- jective point for St. Paul. The heavy realizing which meets the stocks advance at each stage and it's late reaction, how ever, warranted conjecture that the final settlement in the matter remains to be made. The dependent steel stock companies were affected by rumors or Steel Corporation. Tennessee Coal and Iron rose an extreme 715; Co orado Fuel
 5M; Republic Steel, 3a; the preferred, >
 and Hooking Coal, 2A. The advance ot a1y L.a Nfh hnE Q v
 nation than the high rate of the diyi-end return at it's price. Amalgamated Copper was firm all day hut 1t was not untii final dealings that 1t was rushed up 10 part of shorts. The activity of the trad, ing decreased consp.cuously after the gold shipments were announced to aggregate of $4oO0,oOo. The belief is general that further shipments will be made later in the week. Berlin is clearly enough the point of trouble for which relief Is be ng provided. The sterling exchange rate there fell today to 20 marks 4Oh pigs
 Monday and 20 marks 46 pigs two weeks ago. The semi-annual requirements at Berlin are always heavy, and at this time a condition of distrusts exists re- garding many financial and industr al en- terprises. which leads to heavy liquida- tion of high grade securities, espec ally American Railroad securities In face of falling in surplus reserves on Saturday of A,559, 375, following a decrease for the week before of s7,ss1,S thus cutting down nearly two-thirds the New York banks surplus over legal requirements, and. in view of the preparations this W aeK for several large dividend disbursements, including that of Standard Coil, and the preparations for half-yeariy requirements to be met in the following week, the de- mand fo cash of the proportions of to- days gold exports was not to be ignored. The market closed irregular, but at some recovery from the reaction.
 The bond market was rather active and irregular. Total sales, par value, 32s5, 600. United States Refunded %s, Ss and IS declined A per cent. on the last call.