The Montgomery advertiser., 1902-04-01
WALL STREET REVIEW
THE MARKET STILL SPoTTY
 AND STAGNATED.
Late Upward Movement Showed Signs of Being Ahortive Like That of the Earlier One
 and Was Narrow.

NEW YORK, March ai.-The professional element on the Stock Exchange had some hopes that the favorable bank statement pub lished on Saturday during the holiday interval in the trading would induce some speculative activity and they marked up prices st the market, however, almost immediately developed the spotty, character which has been the rule Of late and fell into heaviness and semi-staS- nation. There was another upward mON Nement toward the end of the day. based on the es- sumption that the quarterly and monthly dis bursements to be made tomorrow and the com- pletion of the preparation for them would re- suit in a relaxation of the money market. But the late upward movement showed signs of being abortive like that at the opening ana did not extend 10 large number Of stocks. St Paul was about the only stock which is usually prominent to show advance of over point in spite of the decrease in net earn ings for February reports today while Union February net earnings. fell shor8 If the one point advance and reacted again before the close. Rock Islands 4-point advance and the gains by the Chicago and Northwestern stocks were not very convincing, while the rise of all the way from ] to over points an a group of less conspicuous stocks was quite ineffec- tual to induce speculative following. The Canadian Pacific group, including tho Mime apolis. St. Paul and Sault Ste Marie stocks and the Duluth. South Shore and Atlantic were most consicuous in this category. Hook ing Valley also forged upwards 2k. The ac- tivity in these was dwarfed by the overwhelm- ing preponderance of Colorado Fuel, Amalga- mated Copper and Sugar in the dealings. All of these were point above last week on ac- count or the TepOr t1fOm the tOHlInitNfe on Ways and Means of the Cuban reciprocity bill. All these stocks reacted again at the close, which irregular. Altho lgh the comple- tion of the preparation of the April. list set tlement to insure the money market against any present furry there Is no expec- tation in wel-informed circles of an early relaxation in money rates Foreign require ments too large to permit the money rate here to run down without drawing gold. To- days advance in sterling, in spite of the closed markets in London and Paris, indicates, that gold may go out anyhow. Payments of Gov ernment interest this week in London are expected 10 eace that money market, but the British chancellor of the exchequer will un- doubtedy take advantage of the position to place the loan which is expected to amount to s25o. GOO. 900. the monthly install ment which will hold the market firm in the future. Government interest payments here in New York of about S3, 900 900 will be promptly offset by drafts of lawful money to retire bank circulation up to the S3. COG. 900 monthly limit allowed, applications for which are already file in Washington. Other un- certainties which have overhung the market for some time past and relief from which does not appear in sight, promise to keep a restraining influence on speculation for the immediate future.
 Some of the speculative bonds were inclined to advance. but there was no general activity in the market. Total sales tpar vaue), S4,- 675. o0o United States bonds were unchanged on the last call.