The Montgomery advertiser., 1902-05-02
NALL STREET REVIEW
.GHE VOLUME or DEALINGS
 AGAIN FALLS OFF.
Movement of Prices Indicates Much Uncertainty and Confusion of Sentiment-Flurry in Call
 Money Upsets Market.

~ NEW YORK. May 1.-The volume of deai- lngs fell off again in today's stock market and tAinty and confusion of sentiment. The Hurry can money to IS per cent. would go far to sxplain the action of the market. But there Were some supplementary causes which were cpnfu.tng and no doubt had something to do wffA the rise on the money rate. The prep ssssSsly heavy this this year. was. of conrse % the prlnaxy cause of the constriction of the money sssppiy. But such demonstration of insta- number of other industrials. whose affairs are more or les shrouded in mystery, yesterday i'm closer scrutiny of the character of col Mteral onered for loans. The May disbursa 1ssss ior sicidsnds c & and interest are estimated 0ents for United States Steel dividends. Tho eub-treasury operations this week have taken 70 depoaits to retire bank circulation. There nas been some demand from the interior as % oy ,ns drop in New 1osk at therefore. in view of the limited surplus of tho banks. that monthly requirements should to4ay. The Government interest due today. however. amounts to about si 500 900 and the extsnt of several million dollars are ex- pecfsd to De made by the Secretary of the Irsasury. The rise in the money market has export points. The International Power episode obscure class of industrials. The high grade stocks of this class were less affected, al though the United States Steel Securities showed some depression, partly due to some public discussion of . rather biting character Of the financing of the corporation. Sugar. Ama1gamated Copper and Peoples Gas were nfm to strong. The grain-carrying railroads otarted fo advance on overnight reports of nhowers in Kansas and the Northwest, but the advance checked by the failure of the GrAin market to reflect any beneiit to the crops. There was large and concentrated buy fing of St. Paul. which seemed to be due to the advance in the dividend rate of Northern Racthc from 4 per cent. to a per cent. bnsis. Another notable centre of strength was in the Southern trunk lines, which had no other explanation than the reports of very large North and South traffic The movement affected Louisville and Nashville, Illinois Gen. trai. Chicago. Indianapolis and Louisville, and to less extent Southern Railway. The fixing Of the May semi-annual dividend rate on Pennsylvania at 3 per cent. induced large buying of that stock and helped the other trunk lines. For two years past the May divi- dend on Pennsylvania has been 2h per cent, while in November there was a declaration of The rate of disbursement is unchanged. there fore by today's rate,s but the fact that 1t Is called regular is accepted a declaration Of confidence in the future the part of the directors The undecided question of the an- thracite miners terms was weight on that portion of the market. The closing strength was irregular.
 The bond market was irregular in sympathy with stocks. Total sales tpar valuel S2. 34o. GOO. United Staes A's declined A per cent. on the last call