The Montgomery advertiser., 1901-06-12
WALL STREET REVIEW
MARKET LAPsEs INTO A SLUG
 oIsH CONDITION.
Diminished Interest Showed Ten dency to Become congested in Few stocks-strength waned
 Toward the Close.

NEW YORK. June 1.-The desultory
 movement of the stock market shows The s voinms af lntS p which 1t has passed. The s where U was previous to last week spurt Of speculative activity. The di
 h.nasned hnnns interest showed tendency to
 strength of these had some influence in
 sustaining the general markst, but this Waneo In the latter part of the day. The Upsning made q good show of strength interpretation of the Government cron
 report, published after the close yester- gay, and the rumors which came thick rom London that peace was imminent in
 greater effect on account of the short
 seiing, which has been done by the bears
 auring the, past week in expectation of
 2 snowing or great deterioration in the sIoPs. Notwithstanding the decline of the
 crop condition during the month and de-
 crease in acreage or the Spring wheat
 crop, experts are able to figure bumper
 on the Government showing The rains
 which have fallen since the first of the
 month, which is the date of the Govern
 ments computation. were also taken as
 ar onsetting factor to the unfavorable
 features ot tke report. The short cover
 Ing which developed yesterday afternoon
 and thereafter continued with energy
 this morning. There was an attempt nevertheless to distinguish in detail the
 enscts of the reports as bearing on dif-
 rerert States. The Spring wheat grangers
 were consequently strong, while the
 Texas. Missouri and Kansas lines were
 Pacific down and Missouri Pacific itsef fell under last night. The whole market suffered from req izing until the aggres- sive movemenein M ssouri Pacific checked the decline. This stock touched 122S on
 we'll defined expectations of a coming dividend. There was a rumor that the
 company's bonds will have the option
 exerted in their behalf. The pressure on
 nd ifn atf frih to1 tA
 change in the ratio of it's proposed ex-
 change with Missouri Pacific stock whi .n
 has been supposed hitherto to be two
 shares for one of Missouri Pacific. The
 in in connection with report Of a re-
 funding pan which would bring the st lck
 nearer to dividend claims. The appear ance of controlling Standard Oil inter- ests in the directorate of the American
 Linseed Oil Company was responsible for the strength of those stocks and of Ma tional Lead. which. 1t is said. -'ill benefit from the change. number of the high priced specialti.s s such as Sugar, Anna ga mated Copper and American Tobacco fiuc- tuated feverishly under the influence of what seemed purely speculative opera tions. There were some sharp advances in less prominent specialties, which were unexplained. including American Express, North American. Virginia-Carolina Chem from l to points. The money market was free from disturbance. but reports of a transfer of several million dollars in currency to Philadelphia yesterday. in connection with steel company corfsolida- tions was an influence on sentiment. The | selling pressure gained force at the last | and the close was heavy at about the low est and generally below last night, de- | cines from the top ranging from 1 to 4 | points in the principal active stocks. The | sale of 100 shares of Northwestern pre- | ferred was made at 13 points lower than 1! the preceding sale.
 The demand for bonds was we'll dis tributed and prices advanced. Total sales | (par value), $3,975,O00. United States | bonds all unchanged on last call 1