The Montgomery advertiser., 1902-04-26
Z COTTON TIES At Less Than Manufac- turers Prices.
 (. E. CAVERLY,
 Atlanta. Ga.
WALL STREET REVIEW GRAIN MARKETS INFLUENCE IS
 STILL APPARENT. Persistent Tendency on the Part of the Changers to Move With the
 Price of Grain-Bonds
 Are Firm.

NEW YORK. April 25.-There was a per-. sistcnt tendency today among the stocks of grain n-carfying railroads to move in 2 see saw fashion with the price of grain. The heavy liquidation and a violent break in prices In this mornings grain market sent pr.ces or the grangers up with rush, Union Pacific l. adinr with ar extreme advance of 2I4. The movement spent its force when it was seen that good buying had developed in the graii. market the decline and that prices were i;iiiy.ng there from the slump caused by re- ports of last nights rains with the forecast ket felt the lack of the early aggressive leader ship of Union Pacific and during the hnai hour there was ragged recession wnlch wiped out many early gains and carried priees of impoI tant stocks amongst the srangers. cnalers. New York public utilities and h gh- p. iced industrials below last night. There was sa Into advance in the Southern group marked by very large buying of Southern Railway at SD extreme advance of ss Louisville ana a | nd Chicago. Indianapolis and Louisville rose S5a over last night after cratic fluctuations. This movement seemed designed to check the decline elsewhere in the stock mirket ana when it seen to be without erect the Southern stocks reacted There was some bid- ding up of the grangers again at the ciose, which was active and steady. There was ierre buying Of the United States Steel stock' during the morning by brokers usually em- nlorcd by the syndicate Th.s buying scene to- bf in connection with the issue of the boni circular, The stocks reacted and became du sse rest of the market. The circular disc losed sthat S35. o0o GOO of the proceeds of the pohi issue Is designed to capitalize expenditures already made Tor improvements anu ioi piNp- critics purch1Sei. The executive committee es- - inmates that the expenditures of S2S 900 DO
 for p.oposed imp ovements will add from 10000. oco tn SIS ooo 900 to the yearly prof it's The $50. 900 900 proceeds of the sai' of bonds for cash thus accounted Tor The provision for the s 0. ooo. 900 allowed the un- derwriting syndicate and its managers d. T. Mol gan S Co. the rate of T per cent ot the S2so oco coo bond issue is not made clear The American ice stocks also moNei Vigorously upward in the face of the passage of the dividend Of the common and prepo- siticn to issue debenture bonds ahead or the stacks Tterc was d great variety or m m1Ve merits among the specialtes. AmaiEanated 1,oppa~ afNa7cc6 un tnr conjecture that the consolidation of the 'iiei1ze interests was pre- liminary of their absorption. The stocK hst it's gain. Sugar weak on the pfoposcd IT, vestigs tion of the cofnpsnys Cuban hoidlngS by a Senate committee. The preliminary hE ,res of the weeks cash movement indicate receipts of balance from the interior py tne hanks of upwards of S2. 900 coo to which IS to be added the gain of So37o 900 on sub, treasury operations. It is expected also that the early liquidation in the stock market may have contracted bank loans. although specu- iatiye borrowing has been renewed and large syndicate transactions may have been In rfogress. ,. ,,,.or,al interest in the bond market. but prices were firmly held. Total sales tpar valueD. S5. o5o . GOO. United States bonds were all unchanged on the last call.