The Montgomery advertiser., 1904-06-02
WALL STREET. REVIEW
SLIGHTLY WIDER MOVEMENT OF
 PRICES APPARENT.
Thfs, However, is Largely Confined to Special Stocks of the Dormant Class--The Usual Leaders slug-
 glish and Neglected.

| NEW YORK, June 1.-There was a slightly wider movement of prices in
 today's stock market than the recent average. but this was largely confined 70 special stocks of the dormant class. i The usual market leaders were slug Sish and neglected, and the narrow
 guctuations cannot be accepted as in
 dicative of any widely-hel opinions on the market, Many of the low priced
 stocks which sold off sharply today nave had the appearance of speculative annfties in the past under pool man ipulation, and the suggestions put anoat in the course of this past manip-
 ulation have implied a possibility Of some ultimate combination between a
 number of such roads, small in them selves and of small financiaf import ance, with no dividend distribution on their stocks and with more or less mystery maintained regarding the &C., tual earnings and operation. The com
 mon interest in these stocks of spec ulatfve party of some prominence has constituted a vantage point for ,specu-
 lative opinion in the group of leaders The selling of the stocks in the last Few days is attributed by sellers to the Tears that the holders of the speculative party have been largely reduced and supporting measures for the securities Tn the market abandoned. The down. ward course of the railway earnings destroy the hopes of dividends which were distantly prospective at best. The course of events following the breaking or the corner in cotton and the specu- lat1ve collapse incident to it have a bearing upon the speculative attitude toward the stocks thus involved. A number of the Southwestern stocks sunered also from professed uneasi- ness over their financial prospects One to two point losses resulted In the Col. orado and Southern stocks. the Toledo. St Louis and Western, the St. Louis Southwestern stocks; Missouri. Kan sas and Texas preferred, and some oth- CTS. The hp1VinpSS elsewhere in the market was largely in sympathy with that in these special stocks. News was taken little account of Reports of further large curtailment of the iran output in prospect helped to depress United States Steel preferred, and were an influence on the general market. 50 were reports of additional railroad retrenchments and some reflected ef- feet from this on railroad equipment companies. Continued large demand Tor anthracite made the coalers rela- lively firm and there was besides some demand from shorts to cover in the Fries on their recent drop A number of reports of net earnings of railroads for April showed the declining ten dency still in force. The money mar ket showed no change from it's almost sluggish character but the tone of time loans was reported to be very easy with little demand. Sterling ex- change made further advance. There were some recoveries by the weak stocks and the last prices in it's gen. eral list were little changed from last night. There were sales at a decline of 35 1-2 points of the Detroit Southern As. the June coupon on which it is proposed to fund. and the same com pany's Ohio Southern division 4s on which the interest does not fall due until September, lost ten points The bond market was dull and irregular. Total sales, par value, $1445,OO0 United States 2's and the 3's registered advanced 1-S. The 3's coupon. the old 4's and the new As registered ad- vanced 1-4 and the new As coupon 1-2 per cent on call
 NEW YORK STOCK LIST.