The Montgomery advertiser., 1904-06-11
WALL STREET. REVIEW
UPWARD MOVEMENT OBVIOUSLY IN
 PROFESSIONAL HANDS.
Impression Prevails thnt the Opera tions Are in Skilled Hands and Backed by Resources that
 Promise Effects.

New York, June 10 Prices of stocks moved upward today rather more de- any of the movements which have de- veloped during the week. The move ment was rather obviously in proies- rional hands. but the operations or the ed character which made an impress
 sion that they were in skilled hands and backed by resources that promised greater effects than the tentative ana timid operations to which the recent market had been restricted. The move ment seemed to be the result of crys- tallized sentiment which has been forming for several days of a more cheering kind over the general busi- ness outlook. The greater breaotn and strength of the movement was ef- fective in driving in some shorts who have not been impressed with the smaller movements and their buying to cover was factor in extending the advance. It was the common opinion that the buying was based largely on the expectation of a favorable report by the agricultural department on the condition of the grain crops on June l.
 The report was not published until at-
 ter the closing of the market and it's actual tenor is no guarantee of what movement of stock prices may follow, however closely that tenor may con form to the. expectation of those who bought stocks The test of the mar
 ket wuI be its ability, to absorb the stocks thus bought when the effort is made to take profits on them. The be- lief that the expected favoraniie i croP o9 securities had to contend with the an- parent indifference of the early grain market to the supposed complexion of wheat seemed to be disquieted by re- ports of excessive rains in the south west. The weakness of the cotton market was of a sustaining influence in rhe stocks. The special demand for Pennsylvania made another radiating center of strength in the market. :. Some of the current gossip published
 today bearing on political affairs Tn basis for some of the speculation in this stock. A favorable impression was produced in the evidence of confidence for subscription Of New York Central ldebentures and by published reports or the profits resulting from some of the bond syndfcates recently wound up. | The special strength of the electrics was attributed to the probable electri- | cal contracts for terminal work to re- l suit from the disbursement of the pro ceeds of these debentures. There was | d recall also of the suggestion of a new control of Ontario and Western to neutralize possible competition by that company in a manner similar to the
 Reading and the d9nxn of Fsey
 ury operations have not yet reflected
 the full payment of yesterdays trans
 fer of $2.697,0 900 on account Of the
 Japanese gold. but I. Is expected that
 tomorrow's bank statement will have the benefit of that in its cash items
 The currency movement in favor oi
 New York during the week including | this transfer appears to be upwards oi
 $T.O0o, 900. Late renewal of buying
 made the closing steady at about the 1 top level of the day. Bonds were well maintained on a rising scale. Tota | sales par value. $2.410,00o. U. S. 2s
 advanced 1-4 and the old 4s declined 1-4 per cent on the call.
 | NEW YORK STOCK LIST.