The Montgomery advertiser., 1902-04-17
COTTON TIES At Less Than ManufaC- turers Prices. (. E. CAVERLY,
 Atlanta, Ga.
WALL STREET REVIEW MORE NORMAL CONDITIONS IN
 STOCK MARKET. Transactions in Southern Railway Still on a Tremendous Scale. Heavy taking in Evid-
 ence Throughout the Day.

NEW YORK April i6.-The stock market reverted to, a more normal condition today after yesterdays extraordinary movement in Southern Railway. The trar sections in that stock. although scarcely more han one-quar- ter of those of yesterday still overshadowed the market and were on a scale beyond prece- dent. with very few exceptions. Heavy profit taking was in evidence all day long. which kept the price almost constantly below last nights level. The stocks net loss was 5s. There was some selling induced by the en- phatic disclaimers on the part of Southern Louisville and Nashville purchases present or prospective But the distinction drawn be- tween J. F. Morgan X Co. as bankers and the same firm as the controlling influence In Southern Railway. seemed somewhat strained. The extensive power over the affairs of Lou isyiIle and Nashville allotted to tile firm seemed sufficient security for its operation in harmony with Southern Railway. The brokers most active in the selling of the stock today were those that were heaviest buyers yester- day and who have operated conspicuously for the so-called Gates element in all the recent large transactions Sin the market. They were sellers of other stocks which have recently been, bought up to material higher level. But they were also large buyers at new points in the market. having large part in the advance of the coa1ers, both hard and soft, The buying of Chesapeake and Ohio, Norfolk and Western and Baltimore and Ohio seemed to he based on the assumption that they should enjoy the same advantages those Of Southern Railway in similar and neighboring a rule subjected to realizing. but there number of smaller railroads whose stocks were sharply advanced with an ap- pearance of absorption for control which readily induced a speculative following among the professionals because of the prevalent feeling in Wall Street that a railroad cannot be left out night without being snapped up by some syndicate, in the expressive phrase of the president of of the coalers. Wis coTisin Central the most conspicuous in stance of this class, both it's stocks rising more than three points and closing strong in, contrast with reactionary tendency in sonr| parts of the market. There was lalse number of minor stocks which showed gains of point or more at one time during thetday but the cases are rare where the full advance was maintained. Sugar became strorg for & time the decision to limit the peTfod for de- bate the Cuban reciprocity hnl Amalga- mated Copper sold on account Of the re- duction in the Anaconda dividend and on a fear that similar action Nffnld be taken to- morrow fn the case Of thy Amalgamated divf- ordinary upward mofement of eSs points closing with net gain of IFS. Rumors were current of some combination with American Locomotive. The gains were not well main tained in any case and there were not few declines duritg the day among. important rowers which have been leading the specula- lion were fHtill active kept the interest in the market awake. The money market showed no sdisturbshce and there was no advance in the s.xchapge market despite large sales of stocks tnv- London account and the prospective de- subscriptions 10 the new British consol loan. the times of issue of which announced today. The market closed active and irregu- lar.
 There was continued heavy realizing in the Central of Georgia incomes. The bond mar iet generally irregular. Total sales tpar Nalue). S4. 395, ooo United States bonds were all unchanged on the last call.