The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1902-06-03
WALL STREET REVIEW
LANQUID RESPONSE TO THE
NEWS OF PEACE.
Acute Stage Reached in the Anthra-
cite Strike Also Failed to
Awaken Much Interest in
the Market.

NV YORK. June 2.-None of the news de-
Seiopments since the Stock Exchange closed
Enursday afternoon awaited to induce any ac-
klvlty IN the trading. Neither the declaration
n peace in South Africa nor the acute stage
feached in the anthracite strike awakened any
nterest in the stock market either on the
kuying or selling side. There was some early
&emand for grain-carrying railroads. owing
q the large advance in the net earnings re-
ported for April over those of last year. The
very light movement of grain, especially of
porn, owing TO last years crop failure and
year gave added force to this showing. Union
Pacific. Burlington, Canadian Pacific, among
the grain carriers. and Reading, Lehgh VAL
icy and Norfolk and Western among the East
Drn lines show increases in April net earnings
pf from 100000 TO near $500 00o The
6ccord with the tone OF the London market
ITSELF This was partly attributed there to
Baking up -of attention with the rejoicings
over the peace But there was undoubtedly re-
e1izing on lsrge scale well the part
pf spectators who have bought for several
Nays past in an anticipation of peace. This
purely speculative profit taking, however, does
pot alter the evident Importance to the whole
financial world of the ending of the war. the
etoppage of expenditure unproductiye from the
economic standpoint and the promise of early
renewal of abundant supply of money metal
From the South African gold mines. The re-
borts from the anthracite region received In
WALL Street were reassuring to the success
pf the companies in keeping their pumping ma
chinery active and thus preventing DANA ge
10 the mines by flooding, in spite Of the re-
Spouse to the strike orders on the part of the
engineers OF Ine pump engines II -Woutu us
n violent assumption to read any Significance
IN today's stock operations as a reflection of
general financial sentiment. There We're few
open accounts left open among the traders
after the triple holiday and the light new
commitments almost among this class
and were largely closed out again before the
end OF the day shown by the general return
Df the price level to that made at the OPEN
sng. The conviction. is general that the money
market must be kept free from extraordinary
strains until the ioutiok is clearer for the
meeting of obligations into the Fall. The
heavy borrowings abroad, which must be met.
and the probability OF an active trade demand
for money into the interior of the country
fncite to caution until the attitude Of the
foreign borrowers at the period Of renewals
becomes evident. In contrast to the feeling
in New York that demands may be made
upon us by foreign credits is the feeling in
london circles that New York NAV make fur
Their heavy demands abroad for the relief of
her money Market The London Statist points
out that "for SEVERAL years past America has
accepted payment in securities for its produce
and manufactures. but with money in less
plentiful supply at New York it may this year
elect to take payment in cash" The Statist
secs the possibility that america may renew
the loans obtained that side in addition
TO taking gold in payment for exports. The
whole problem of course turns largely on the
size of the coming crop.
Bonds were dull and irregular. Total sales
fpar valued. S3.io5. 600. United States 2s
and old as declined X and the new As u
Der cent on the last call.