The Montgomery advertiser., 1902-05-03
NALL STREET REVIEW TrfE MARKET RECEIVES AM
 OTHER SHAKING-oUT. constriction of the Money Supply and Recent Manipulation Furn-
 ishsd the Opportunity for
 the Overdue Movement.

NEW YORK, May 2.--The stock market re- sqlvod shaking out this afternoon which
 LII sssn considered overdue fcr some tim. .,,s, ny tn1uSdiats cause of the fall in prices. Need fHs nnnnipuaetion of speculative pools and e5t1Use with resulting imitation in prices which G1Ss purely nctiious values in the most na- Ero11t cases and . highly speculative range of vo1oeG iu the whole list. The lesson of the In- ternat5bn4l Power episode was reinforced to- & la lined ss1Tp,s rscsnty I Sy hsshly msneaaa 4tss tActtcs with practically no general demand IT the securities. The abrupt break to par of 1utland preferred compared with i2o yes 31e6ay was . sufficient indication on the Ut1ck Exchange of the stae of distrust which
 er:ssn The displayns Of credit, in,, which eo1 lSXn16l for Ioans caused . lively disturbance iM n moynv market which was already in tzr&f cod Ition. Some of the largest or the Fl q 1or cent, but this did not prevent an aseivs demand at a higher range of rates all r91k bank statement did not give promise or eSV immsdiafs relief from the strained con. 4ntoe of ths money market ,ndcsIon, a,,y pon. a 0Q0, ,ooo In G1d16 Of receipts on balance rom tbe In5E and oy1 tc the % suo-trsdsusy re, e, SSs r S3 E&&sS market at near the gold ex06f{ " M also regarded ominousiy as 37eek ThS calling for payment of Zo per e,ssf. installment of subscriptions to the steam Gl3{o unereer sy1ldicate will require next week n ansount Approximately S7.5oo, 900 on the e1lUposition that 60 per cent os the sunocrp 1n p 1loaa are payable in New York and ~ per osnt abroad. There are other heavy require- r5rnfs imminent, Including the disbursement or lko dividend to the United States Steel Under vFr1finx Syndicate. That there were some NV trai1ractions carried through yesterday 6eahs which reached about s447.o0O.ooo TOT 9f1 dav. The weakness of the market was cc1seeated for . time. apparently Dy tne ere 1rSrf which has led the speculation or fa.e They had to contend with large Western ,,3s 1r- aers to sell. The notable strength of Louis Vfl1e which touched 1864. was attributed 70 fhN uaueuvers of this element and said 10 De ii Mated by the existence or snort mtsf eet Early strength in Pennsylvania was also i help. In the late dealings all attempt .o were unlonded indiscriminately. causing 2 bcrak in prices which reached as high as 1,nr cent and under in the maJorlty ot ac. live stocks St. Paul suffered to the extent Of 45[ Canadian Pacific 3% and other iess copspicuous stocks from to z. Internationai rowsr continued it's eccentric gyrations which extended from l02 to 65. with net loss or n points Hasty profit taking by the room sl11rfr caused some spasmodtc rallies, oa. the closing was weak and semi-demoTaiized. nInor considerafions were obiiterated by the impor- fsnce attached to the money outlook.
 z The bond market shared the weakness or Tne stock market, but in much less degree. TO, tal sales (par vaiue), S3.22oo0o. united States bonds were unchanged on the iast caii'
 Bank Clearings.
 NEW YORK. May 2.-The following table, irss at the cities named for the week ended MSv e with the percentage of increase and decrsses ss compared with the corssaronoans Nss1 sAsb sses' Par oens--