The Montgomery advertiser., 1903-04-07
WALL STREET REVIEW
TENDENCY TO REALIZE IN A
 GOOD MARKET.
Dissolution of the Union Pacific In junction Regarded as Favor able to Higher Prices.
 Bonds Are Irregular.

NEW YORK April e--rhe stock market showed a considerable degree of strength this of the day. showing the continued disposition of holders to realize fin good market. From the Stock Exchange standpoint the dissolution of the temporary injunction against the vot- ing of the Southern Pacific stock held by Union Pacific was regarded as good news in the sense asve wal street Sss .nssrsa ,s into sS merits of the respective contentious of the two sides to the Southern Pacific quarrel regarding corporation policy in the disposition of earn ings but there had been an uneasy senee that the questions ra.sed in the dispute car led threat of grave conseeuenee, to many far tions. The question of the right of railroad corporation to own stock of competing line Is one that involves some of the most impor- tant arrangements made during the recent era oi building up of community of interest amongst railroads. The judicial decision refus- the Union Pacifc's interest was accepted es .en. couraging by holders of securities. The disro- sis,on :a to realize was emphasized by the grant M indefinite postponement of the Southern Pa cihc meeting. Immediately after the announce over Saturday. Most of the active list at that time showed eaius of between and points with Pennsylvania. st. Paul and Canadian. Pa late selling movement. nothing but fractions were left of these advances and the tone Of the eiSsins closing was easy Z and intensely dull. The ss was also an influence in the early strength Of tha market. Money rates were lower in Lon don and there was . reappearance in the ex- change market here of bankers, loan hills Brokers in the time money market report that possibly the only funds offered in that depart ment by foreign houses. Rates for time money and mercantile paper do not show the relaxing tendency yet. Although the call money market reflected a passing stringency of money bad impression on sentiment was left by the large unexplained decreases in the cash reserve of the banks reported in the Saturday bank statement There was some disposition to blame this upon with drawing large sums from the banks with the deliverate purpose of i'm creasins the pressure for money. but the pending reserve requirements of the trust com panies offer the most likely explanation of the large withdrawals of cash Some very fla yorabe showings of railroad gross earnings for the fourth week and month of March had encouraging influence. The increase by the Missouri Pacific over the corresponding week of last year amounted to 26 per cent. that of Norfolk and Western to a per cent Socth- ern Railway and Central of Georgia to 20 per cent, Chesapeake and Ohio | 6 per cent. while for the month of March. Mobile and Ohio gross earnings rose go per cent and New York Cen tral 2f per cent. The reported settlement Of the Wabash labor dispute had a soothing ef feet upon the prevalent apprehension over the labor outlook. There was heavy selling of Sugar reported for Boston account. supposed to be in the pursuit of a bear campaign.
 The bond market was dull and iIfeguar. Total sales fpar valueD. Sl 665. 900 United States new As registered declined per cent. and the new As coupon Y per cent. The old As advanced t per cent. on the last call.
 New Y 1rk Stock List.