The Montgomery advertiser., 1902-04-19
COTTON TIES At Less Than Manufac- turerS Prices. C. E. CAVERLY,
 Atlanta, Ga.
WALL STREET REVIEW WELL CENTRED AND AGGRES- SIVE LEADERSHIP SHOWN.
  Movement on a Broader Scale and More Stocks are Dealt In. Small Net Gains Shown
 at the Close.

NEW YORK, April iS.-The varied activity of very large speculative forces was still mani fest in the stock market today. The movement of prices was entirely characteristic Of an active speculative movement under we'll centered and aggressive leadership. The deal ings were a larger scale than those of yes- terday and progress was made also in the breadth of the movement and the variety or stocks dealt n The average of the daily deal ings for the week has been brought up to i'm pressiye proportions and, in fact. to level of sustained activity that was entirely un- precedented in the local stock market until last years new records were established during the period of greatest speculative excitement There was nothing in the news today or in the general conditions and outlook to account for the manner in which new points of strength were constantly developed while the older points of strength were left to drift down. wards subjected to judicious feel ing of the demand for the purpose of ,ealiz ing profits. Those stocks which spurted late in the day yesterday and those which opened this morning with vigorous upward move, ment almost without exception were subjected to realizing today and closed the day with small net gains below the best prices This was notably true of Atchison and the anthra- cite coalers and was measurably true of stocks which showed periods of strength later in the day. Broadly speaking. the leadership of the advance was shifted to St. Paul and then to Union Pacific with more moderate response amongst the other Southwesterns and Pacifics. Southern Railway and Louisville fell into the background again. The bituminous coal car riers enjoyed period of strength and there were a number Of wide advances amongst scat tered industrials and specialties Colorado Fuel was active and strong on a speculative supposition that absorption of that company into the United States Steel Corporation had been assured part of the settlement of the control of Louisville and Nashville. Inter national rose extreme l0A, presumably on the dividend declaration yesterday. There were gains of betwen and points in North American. Peoples Gas, the Rubber stocks, New York Air Brake. the American Snuff stocks Fort Worth and Denver Stamped and Nashville. Chattanooga and St. Louis. Bur ;ington. Cedar Rapids and Northern dropped 10 points a single sale and Brooklyn Union Gas 3. Amalgamated Copper was quiet, but somewhat depressed after yesterdays div idend reduction. American Sugar was sold on the strength of the proposed amendment to the Cuban reciprocity bill to rescind the differ. ential duty on refined sugar. The preliminary figures of the cash movement for the week indicated a gain in reserve of over Sl 500, 900 and easier tone in the money market was calculated to sustain the speculative move ment The fact that sterling exchange has ruled easy throughout the week in spite of large American subscriptions to the Brit here on London account, while the supply of commercial bills of exchange is notably scanty is striking evidence of the large credit re- sources of this center in foreign markets. The market closed active and irregular.
 The activity in stocks has diverted interest from the bond market. which was rather duiI and irregular. Total sales (par value), S5.- e75. 900 United States 3's- coupon advanced i4 per cent. and the old As coupon declined 1s per cent. on the last call.