The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1902-05-15
ALL STREET REVIEW
<xIADING FELL NEAR TO POINT
OF STAGNATT0N.
80 Days Total Transactions Small
- Than for Many Months.
Nrmness Of the Market
a Was Only Passive.

@EW YORK, May J4.-Today,s small
IN prices of stocks mostly gains
ne nrmness of the market was passive and
no positive element in 1t so far as could
perceived. The trading fell near to the
({ons were smaller than for many months,
~ racine made some show of strength and
tar 10 the lead of all other stocks in point
2s<<zcct1sity Gossip was in circulation of an
t5<<noed increase In the dividend rate on the
4ask Action on the dividend is not expected
y4Qt July and 1t is natural to suppose that
courpe OF the Winter wheat and corn crops
zen now andt then will have a tearing on
NJ divi7end action. The course of these crops
4N1t now the subject OF greatest uncertainty
~ Speculative circles and this uncertainty
49, large influence in the speculative halt
1Z ne stock market which took place today.
A4other cause was the anthracite miners
wNich were in session at Hazelton to decide
whether to make the conditional strike of the
M4nep permanen&s No light was thrown on
MS question before the close of the day. but
- coal stocks shared generally in the firm
ne3s Of the market. Another feature of the
QzX was the wide recoveries scored by some
r. The high priced stocks which fell violently
11ethe liquidation Monday. There were other
H41-priced stocks In the inactive list which
gold today at wide declines from the previous
$3.50 The money market was much quieter
toy and there was no seeming difficulty in
ou{Ainfng call loans at per cent. or under.
one cause OF this was the much lighter demand
~ accommodation The recent high rate has
alfo had the effect Of bringing supplies. This
pEoCess Of borrowing in foreign money mar
kS1a was continued today as indicated by the
4a<ther decline in the sterling exchange mar
C4lcago from Csc premium yesterday ~ Soc
ptfmitlm was sign of active demand for re-
instance to New York from that centre which
a4treported also to he in progress from other
domestic centres. The completion of some
large syndicate transactions and bond sub
ecrfptions which have been in progress recently
h4d its part in relieving the money market
aud tightening the pressure to sell stocks
The eub-treasury requirements on the money
market much less than last week, partly
owing to- increased pension payments. But
there were large deposits of lawful money
last week for the retirement of national bank
notes. as there haze fbeen during the first week
ofsthe last few months. The accumulation Of
petitions for retirement Of bank. notes has
been worked of practically and some Of these
check TO the bank note retirement will relieve
the money market OF drain to some extent
Itsis worthy of note also that the Govern
ments surplus revenue this month is only
50 600 GOO for the corresponding period of last
year. Receipts from internal revenue thus
FAR this month are some So. soc, 600 less than
for the corresponding period last year. This
decline Is probably due to measures in an
ticipation Of the repeal on July l. next. of
continue until the period OF the repeal. thus
relieving the money market Of part of the re-
quirement of the surplus revenue. The foreign
trade statement for April dscloses decrease
in the value Of imports. compared with the
previous April This is the first time in over
a year that monthly imports have fallen be-
low those of the year preceding The decrease
IN the total exports also Is found to be only
$Jf .563.2i6 whereas the decrease in the
agricultural products alone was over St5.-
ports of manufactures are well maintained.
Bonds We're dull but firm. Total sales tpar
vaiue} S327o 600. United States SIS de-
clined Il per cent. on the last call.