The Montgomery advertiser., 1901-05-23
WALL STREET REVIEW
MovElGENr IN ERIE THE ONLY
 FEATURE.
Market Fell Further Into Apathy and Was Barely Relieved from
 Semi-stagnation-Bonds
 Not Very Active.

NEW YORK, May 22.-The stock mar ket Tell further into apathy today and was only relieved from semi-stagnation Sonsse sne movement in the Eerie stock. the speculative public to the market, the volume of, the transactions in Erie must pc accepted as significant. The profess slonai traders. at loss. to secure even a aracuonai n proht on turn in the market, nocked to the Erie crowd as the move ment progressed and added their specula- i've operations to the other buying of the stock The opinion. however. gained Iorce on the Exchange that the move- ment marked a resumption of opera tions for the extension of influence and control Of existing railroad systems. The buying was attributed to Wabash inter- which offered some escorroboration. State ments were published this morning to the erect that a controlling interest had been secured in Lackawanna in order to af- Wabash and the Gould Southwestern sys- tems. This evidently represented an eff Tort to account for the recent strength of wabash and it's Southwestern affiliations In face of the disappointment over the non-declaraton of dividend Mis- souri Pacific. It has been stated with particularly for several days past that the buying ofToledo. St. Louis and West and 1t was claimed today that control had passed. It Is to be considered that these roads ruin over closely related terri tory and the activity in their stocks fa- vors the presumption that the problem of their future relations and control is being worked out. The strength of Chi cago. Indianapolis and Louisville and of the Chicago Great Western stocks may have had bearing on the same prob lem. The strength of the bituminous coal carrying roads was directly attributable to the declaration of a dividend of 1s per cent. on the common stock of Hooking Valley. the first in its history. The strength of the Readings was called in sympathy with Erie in its character as an anthracite carrier. but Erie was the only one of the group to maintain its ad- at a gain of 2A. Some of the individual blocks purchased ran as high as 6.e00 shares. A feature of the day was a sale of Northern Pacific at III, compared with back again to 1sO. An unpleasant inn pression was produced that the authori- ties of the London Stock Exchange would rescind the suspension of rules for buy the shorts. At the last settlement. 1t win be remembered, the difficulty on this account was adjusted by allowing the shorts to carry over at hxed price. cred and the buying in of shorts for the next settlement, which occurs next week, would be the occasion for renewed un- easiness This suggestion and the an part in the early heaviness of the mar ket. The fact that there was no addi- tional gold engagements. contrary to ex- pectation, may have had some influence in the later hardening of prices, but the vigorous advance in Erie was the main factor. A number of minor industrial stocks were strong on very palpabie ma nipulations. Des Moines and Fort Dodge was lifted 2& and the Wisconsin Central stocks 2 and 2h, respectively. for the common and preferred. In the general mixed.
 The bond market was not very active, but showed some strength. Total sales (par value), "A, 450,000. United States new As declined A per cent. on the last call.