The Montgomery advertiser., 1902-06-20
WALL STREEnREyIEW
ANIMATED sHAKINf OUT OF
 SPECULATIVE ACCOUNTS.
Sharp Reaction from theRecent Pro- longed Advance-Profi-taking Follows the Recent Rise
 in Illinois Centra.

NEW YORK. June Io.--Therc vas quite an animated shaking out of speculative accounts from the recent prolonged aavanceI It became evident soon after the open ng tAis morning that the real continuation or the rse had oc cured yesterday. The leading spelIiative in- terests In the market apparently t&pk 'advant- age Of the stimulating influences of yester- days excited rise in Illinois CentrAl to take their profits. This morning there xerc some operations that seemed represent continued efforts to advance the market by one or two or the important speculative parties whose joint efforts have induced the late rise. But the effective support of the principal specula. traders were able to detect sales to take pref it's for that account. They needed other invitation to turn aggrcssivey to the bear sds and they sold the list throughout with great freedom. Prices gave way readily and fell on an average from one to two points below last nights level. The bears were so precipl- tated in their selling that they were obliged to bid quite urgently for stocks when they came to take profits, causing some substan- satisfied the market yielded again and closed dull and irregular. The whole movement was technical and was little affected by news of the day as the previous advance has been. The activity of the bears was evident in the circulation of alarmist iumors. afterwards de- was seriously iIl Another was that a fresh Judicial decision had been rendered against the United States steel bond issue. The ear Tier weakness was confined to the stocks. which have been the favorites during the bull campaign, but active selling of United States steel ueNelOpeu under me influence or these rumors and carried that stock down S below last night. The long continued rise in stocks has made tho professionals alert for signs of reaction. which considered overdue The short selling from time to time has couraged the bulls to extend the advance ani force covering. large portion of this short account was forced out in yesterdays jump in prices. adding to the technical weakness of the market today. The stirrins of interest by outsiders, which was first manifest veg terday. also facilitated the profit taking by the insiders in the bull campaign There was unfavorable news today which has not been under discussion for some time past. But in the changed E.nt,m.nt of the specula- tion additional consideration Is given by the national convection of coal miners and the ef fort to bring about q general strike. The too abundant rains where wheat harvesting is In progress and the continued drouth in Texas also received more attention than hitherto. Sterling exchange still firm and declined at Paris, both movements tending to increase the pressure upon New York for gold Various new bond issues which are being advertised indicate large requirements upon the supply of credits in addition to tho demands for the coming semi-s settlement.
 Individual causes aggravated the weakness of some special stocks. Doubts cx- pressed over the maintenance of the regular dividends of Colorado Fuel. Bonds weak in sympathy with stocks. Total sales. par value S3. 10 00o United States bonds wtra all unchanged on the last call.
 Treasury Statement.
 WASHINGTON. June io.--Treasury bal ances. saoo, s57,44o gold, sos see 422
 New York Stock List.