The Montgomery advertiser., 1901-05-18
WALL STREET REVIEW
DEMONSTRATIONS OF STRENGTH
 IN THE MARKET.
Towards the Close the Bueyant Out burst Recalled the Days of the
 Early Period of the
 Late Boom.

NEW YORK, May 1.-The feverishness and nervousness were all gone out of the stock market today. There were positive demonstrations of strength which was somewhat intermittent and spotty in the early dealings, but which grew and broadened with the progress of the day and progressed with a buoyant outburst which recalled the days of the early period of the late boom. The strength in the market was principally based on gen. eral conditions, but there was besides an unusually large number of stocks infiu- enced by individual causes. The aggre- gations of these strengthening influences was a potent factor in its sympathetic market. Broadly considered. the general feeling that speculation was on a safer level by reason of the imitation let out of them while the business conditions of the country and the earning power of prop erties were unimpaired, encouraged the buying. The evidence that forced liqui- dalton growing out of the panic had been completed was thought to leave the way open for renewed advances. The indica- uons for tomorrow's bank statement were of such strong recuperation that some pressure to lend money seemed prob- ability not far in the future. It should not escape notice, however, that the prin- cipal buying of the day came through the same channels as that which marked the leadership of the recent bull specula- tion into it's last stages of excess. These operations were supposed in Wall Street to be inspired in the interest of the great combinations of capital whose measures of consolidation have produced crop of new securities which remain to be suc-
 cessfully marketed to insure the reim-
 burstment of the expenses or those con
 solicitations. The belief in the settlement
 of the Northern Pacific controversy Is felt to offer assurance of a most effec- tive naturalization of the whole western
 railroad territory than has ever before
 been known. The prominence of stocks
 of railroads in that region was due to
 this cause. There were very definite re
 ports afioat that the dividend on Mis- souri Pacific at, the rate of per cent
 was an early probability. The movement
 in the local tractiens was due to the in
 auguration of the underground trolley on additional lines of the Metropolitan
 Street Railway and estimates or the oene-
 fits to result to the Manhattan system
 from the use of electricity. Sugar was
 affected by reports of an agreement with
 the coffee interests and was heavily bought for Boston speculative account;
 Expectation of a msion-outting nelpea
 Consolidated Gas. The reported settlement
 with the city authorities giving assurance against Interruption was the cause
 of strength of Peoples Gas The better
 prospects of settlement with the .,,ras mas
 towards renewed organization Of the
 United States Steel Corporation compa-
 nies indicated by the election or new oi.
 rectors induced buying of the ,.m m united 1s posits of stock in assent to the proposed exchange with Amalgamated Copper ex- plained the demand for that stock. There was talk of closer relations between the American and Continental Tobacco com- panies The Pennsylvania Railroad was said to be perfecting its control of sub sidiary coal-carrying roads. Such indi- vidual causes of strength might be con- siderably extended. but enough has heen said to indicate the character of some of the markets strength. Gains all the way from [ to 10 points are shown by an ex- tended list of stocks and their last prices ] were practically at the top. Owing to | the heavy receipts from the interior the banks are expected to show a gain in cash in tomorrows statement of nearly | $5, 900 600 after allowing for gold exports. This promise neutralized the effect of the l falling due on Monday of the third in stallment on Union Pacific bond subscrip- | ton, involving $l0. .eeo,0oo.
 | The bond market was broad and prices | were we'll sustained. Total sales (par | value), 8, 456 900. United States Ss de- | clined t per cent. on the last call.
 Money and Exchange.
 l NEW YORK. May 1f.-Money on call firm at SH@6M per cent; last loan at per cent; ruling rate, 4is per cent.
 Prime mercantile paper. 4g4h
 l Sterling exchange firm, with actual bus | mess in bankers biils at AS for demand
 ana at 4Is4AQ4ls5 for sixty days; posted | rates, A85AQ4.S9.
 | CAmmerciai bills. 4sS%dp4s4h