The Montgomery advertiser., 1902-04-02
WALL STREET REVIEW
sTAGNATIoN IN LONDON DrsAP.
 POINTS REGULATORS.
Approaching Departure of the Lead ing Financial Lights for Europe Has a Further Discourag-
 ing Effect

NEW YORK. fApril~t.-The stagnant condi- tion of the London market this n'orning upon days interval, still further deferred the hopes of the speculative contingent which has been counting upon an awakening interest in the stock market. The continued absence from the street of large capitalists and the coming departure for Europe of the central figures of the, financial district had further discourag- ing effect upon the smaller traders who have been protesting confidence that the powers in the money worlda were going to put stocks up" The consequence considerable sell ing by tired holders and a dropping market. The sagging tendency gra iually permeated the whole list, overcoming the strength of those speciaIties which rose strongly early in the day. The leaders in activity were Colorado Fuel. United states Leather; Amalsam,i.d m, .i its gain. which amounted at one time to 2N and closed with a fractional net loss. Sugar under pressure and United States Leather stocks did not fully maintain their advance. Amalgamated Copper, however. was persist cntly firm and closed at the top with net the copper properties of the principal rivals interests made the bears in the stock cover heavily. A judicial decision upholding the New York franchise tax weakened the New York public utilities and caused some sym pathetic response elsewhere. Decreased earn ings reported by the American Car and Foun- dry Company depressed that stock. The coal affected by the announcement that the Summer schedule of prices. representing a reduction of 50 cents per ton from the Win ter schedule. was in force today instead of being postponed until May st as was expect
 
 is still open was sn additional influence. The market was distinctly easier both for call and time loans and large disbursements payable today are expected to further increase the sources of the market Today's dividend and wards of s6o. 900 ooo The London money market was also easy today and sterling ex- change at Paris recovered a fraction. SO that the advance in sterling here left margin still between the market and the gold export point This influence seemed to be ignored, however. as the ease of the money market is not expected to prevail for any length of time. The British loan will soon be an- nounced and foreign banking houses in New York expect that there will be American sub scriptions which will increase the demand for remittance in addition to the natural at traction for gold which will result from the hardening of the London money market The March statement of Federal finances shows a surplus for the month of S9.273,4f3 which is less than a million under the surplus for March of last year. The available cash bal ance in the treasury which has been held down in the neighborhood of l7o.o00, 900 for man ymonths by the redemption of Government bonds has now run up to nearly { i7S, oO0. 900 with the prospect of considerable daily add- ton with the redemption of Government bonds suspended. The security of the New York money market from future complication is therefore not clear and this continues to be a repressive influence on speculation.
 The bond market was less active. but generally steady. Total sales tpar vaue), s. 4So. 900. United States bonds all un- changed on the last call.