The Montgomery advertiser., 1902-04-12
WALL STREET REVIEW FEARS OF A CORNER IN L. & N.
 ARE DISSIPATED. Movements of This Stock Were Watched Narrowly, However, and the Market Was Very
 Sensitive.

NEW YORK. April iI.-The fears of a cor ner in Louisville and Nashville were some what abated today, which seemed to be the principal factor in the tendency toward re coyery in the market. Speculative sentiment ments in Louisville and Nashville when very large buying appeared in other parts or the market and when Louisville and Nashville ran up to % under last night there was prompt rally elsewhere in the market Thts see-saw process was more or less conspicuous all day and especially at periods when Louis viile was particularly active The market for that stock continued very feverfsh on an enormous volume of dealings. but the nuctua- tions by means wild as yesterday. There were indications that the money powers hack of the movement were disposed to handle effect on the rest 9f the market: The stock a, gain of Is As fSf southern Railway U ie,1 other active stocks in the market and moved narrowly. The strength which the market showed as whole by no means uni versal or evenly distributed. The Government crop report caused some depression here anu there amongst the Grangers which was over come. Amalgamated Copper was consistently strong and nearly points at the last The return to the city of one of the principal stockholders and directors was imputed as the cause of the movement Chicago; indi- annapolis and Louisville ran off sharply points on the declaration of only ! per cent. dS,. . liberal distribution The stock made a fe- verish recovery sbf parts of it's decline. Tho United States Steel stocks were heavy on rather free selling attributed to ,dissstsfaction with the bond issue and the large proportion of cash to Joe realized which will go to the bankers as commission The generally credi,eo report that the purchase of the Choctaw, OK lahoma and Gulf was in the interest ot Rock Island and was followed by & 2ia-point rise in that stock. but the dealings were merely nominal and the gain was wiped out Ameri- can Cotton oil. International Power. North American. Michigan Central and Westinghouse h.iectrlc made gains or nearly. 3 points or ur- wards Some of the buying of the day was based on the prospect that the pank s.s,- s.at" fion by the clearing house institutions. The loss to the sub-treasury is Sl OOO, which is over a million dollars less than the pay ed. The receipts on balances from the interior have exceeded the loss to the sub-treasury by a small margin. The expectation is general that the banks will show contraction of called during the week. These have been shifted partly to the trust companies and foreign loans have also gone to supply the weeks demand. Some recuperation in the sur it is supposed that the enactment of the New York law extending the list of bonds avail able for saving bank investment will result fin some release of funds which have been enactment of the law. The action of the treasury department in increasing deposits with national banks upwards of S4.oOo. oOo with the assurance of further monthly in upon sentiment. although there was no imme diate result apparent. The peace rumors from London were practically ignored. The British budget statement of next week Is awaited Tor clearer light the situation in the London market.
 There was great activity and strength In the Central of Georgia income bonds and tho Mexican Central income bonds. Otherwise. the Cpar yaluel, s5.7o7. 900. United States 2's ad- yanced k per cent. the last call.