The Montgomery advertiser., 1901-06-06
WALL STREET REVIEW
STRENGTH OF STOCKS DIMIN-
 IsHES DECIDEDLY.
Progressive Decline Probably Due tc the Completion of Realizing Profits on Various Heavy
 Lines of Securities.

NEW YORK. June 5.-The strenrth of the stock market which was quite marked Ss one time during the day. diminished was first decisively establishes, there was notable failing away in the volume or dealings, but there was a resumption or activity before 'he close, this time on the selling side, and the closing was de- cidedly weak with some wide brooches in prices. The progressive decline in the strength Of the market Is probably due to the completion of realizing profits on various heavy lines of stock. The profit taking was clearly in evidence all day, every demonstration of special strength In individual stocks being taken advan- tage of to prosecute the salling elsewhere. Stocks which have shown the greatest strength recently were naturally most af-
 fected by the realizing It was current
 report that much of the buying today ana
 ing of a very heavy line of short con
 tracts by an interest which took the bear
 side of the market last week in the in-
 cipient stage of the rise. arguing that technical considerations called for a reac- tion at that time. The sustained advance
 since Is said to have driven this interest
 to cover at large loss. The closing out
 of his bear account removed an impor-
 tant sustaining influence from the market
 and contributed to the vulnerable condi- ton which invited renewed attack by newcomers to the bear ranks. The sharp advances scored in number of insig-
 
 earlier part of the day pointed clearly to manipulation in the interest of the real izing process, but there were also many notable points of strength developed In the market for high grade stocks. The
 most sensational upward movement was in Rock Island. The late squirt in that stock to 175A had a momentary Influence in stiffening the list after 1t had touched the low points of the day to that tune, but as soon as it was perceived that the Rock Island movement was without er- feet, the selling was renewed with re- doubled force. The admission Of new Tn, terests to the directory of the Rock Island was pretty clearly foreshadowed, but extra stock issue was an entire surprise to the street. The movement In Atcni- son was more gradual and on larger deai- ings Rumors of lease to union Pa- cific persisted and the admission to the
 directory of a member Of the oanklns firm which represents the northern mes
 of Pacific Railroads was regarded as slg-
 nificant of the progress being made to-
 ward community of interest in that ter
 ritory as a result of the adjustment or
 e9treme e9f os'rs rise was % AZ. Fhe story of Mis-
 souri Pacifc's control of Southern Pacinc and a rumor of the exchange or Missourl
 Pacific stock for the Denver and RIO group of railroads. Pennsylvania was af- fected by the published opinion of an ex- ecutive officer lately returned from Flu
 rope of good prospects for the coai eSo hort trade. Executive changes III the Erie were taken as foreshadowing i'm. provements in operation. The strength oI illinois Central was based on comparison of it's low price with other railroad stoths tSs in the same category. Amaigama.eu Conner suffered from the granting Of a new injunction against its proposed ao- sorption. Advances of from l to points in a number of low-priced raiiroaas ana ., industrials were unexplained by any
 news. The advance in Canadian Pacinc and it's affiliated lines was designed 70
 lift the stock in proportion to the aa-
 vances of the other stocks or Nortn"est-
 ern- n-Pacific lines.
 The bond market was irregular in sym
 pathy with stocks. Total sales Ipar value), S35l5,000. United States Donos
 were all unchanged on the last cal'