The Montgomery advertiser., 1902-04-22
COTTON TIES At Less Than Manufac-
 turers Prices. C. E. CAVERLY, Atlanta, Ga. .-.nta
WALL STREET REVIEW
ANOTHER DAY OF ACTIVE AND VARIED SPECULATION.
Campaign for Advance Received a Ratehr Severe Check, However. Vigorous Buying Movement
 Towards Close of Session.

NEW YORK, April 2i.-There was another day Of very active aud varied speculation in vance received rather a severe check. The day started off with indications of a repeti- tion of the successful tactics adopted last week of heavy buying at some new points to offset realizing at others. It so happened. However, that the stocks in which realizing was attempted. namely. the Western and Pa cific stocks, were acutely depressed by the threat of harm to the crops and by the leave xranteds to the State of Washington to file a suit in the Supreme Court against the North efn Securities Company. The leaders of the campaign for the advance recovered their po- sition to some extent late in the day by Vigorous buying movement in Southern Pa eihc up to 6sit and fin Reading and Manhat- tan. which lifted respectively A. and 3ss Saturday. This induced general covering movement in the whole market and In substantial rallies which materially reduced the losses, but still left prices generally be- low Saturday The setback came in the face Louisville incident seemed to have convinced some of the large Eastern banking interests that the time was ripe for an advance. all though they had been inclined to deprecate the movement inaugurated by Western capi- laiists as premature, on account of the un4n m formed prospects for the crops. The steamship merger was accepted an additional indica- ion of the confidence of large capital in con- 'inued prosperous conditions. The result of he days operation in the market showed the importance of the outcome of the crop situa-
 ion. The report of hot winds in the Winter s1ieat belt did not seem to greatly affect the
 
 Interest in that market, but the simple recital If the temperatures touched at points in Ne 3raska, Missouri and Kansas was sufficient 6 cause a reflection of anxiety in the stocks ,f the roads running through that region. The weekly statistics of railroad traffic re- porting a decline in the merchandise move aent to the Southwest were regarded as a eorroboration of the threat of harm to the srops- Scattered reports of showers may have had to do with the late rally in the market. The leave granted to the State of Washington 10 flo suit against the Northern Securities Company is what was refused to the State m the previous attempt. The question of the legality of the company is now felt to be start ed towards definite judicial decision. There Is enough doubt over the outcome of the suit 70 in view of the additional projects now known to be on foot and dependent upon the settlement of this question. An incident of the day the demoraliZation in the silver market. which carried silver bullion to 50h2S an ounce. compared with the previous low rec adopted the gold standard. The slump is saAJ to be due to selling by China as a necessar! incident to the payment of the indemnity t' -t the Powers. The strength of Reading ant Manhattan was due 10 buying by the sam brokers who heavy sellers of Union Pa cinc and St. Paul. There were rumors of ab sorption Of Reading in Pennsylvania inter ests. The movement was foreshadowed by tht circulation or arguments on the intrinsic value of property. The market closed active and about steady. New York Air Brake, Inter national Power. the electric stocks Keokuh and Des Moines and Nashville. Chattanoogs and St. Louis made sensational and unex- plained advances
 The. heavy selling of Union Pacific convert ihle bonds was the feature of the bond mar ket. Total sales tpar valuel, S6, 585 900 United States bonds wore all unchanged or i inc call