The Montgomery advertiser., 1905-02-17
WALL STREET REVIEW STRENGTH ABOUT SAME, THOUGH AT FECrING DIFFERENT SHOCKS. Lew Grade Industrials COHtlnued tO Play Conspicuous Part -- Interest tn
 Battie for Control Of ln-
 surance Company.

New York. Feb. 16.-The show of spotty strength was about tho same yesterdab except that soue different stocks were af- fected In some cases it was apparent that the movements were due to operations by pools in the particular stocks. In some others there waB news or rumors which of- fered ground fer higher pices.
 Low grade industrials continued to play consp,cuous pat in the market and in the railroad list the low priced non-divi- dend paying stocks came into greater favor. Stocks of the Morgan group. including United States Steel common and Rock Is- land. were examples in this class. The ab- sence of news to account for these particular movements gave ri e to the suppositIon that they were designed for effect upon sentt- ment by creating an impression of an active interest In the market on the part of great capitalists.
 But the failure of stock exchange house commitments on the short side of the mar Ret was believed to explain 10 some extent yesterdays sharp rise in Union Pacific. The strength of the stock. in consequence, did not hold throughout the day There was however. corresponding advance to a new curb and buyers of the stock professed con- ndence that an early increase in the Union Pacific dividend rate was in contemplation.
 Yesterdays rumors Of a transfer of con trol of Ontario Western to New York Central were denied on authority. but that stock continued to show strength and the minority interests were said to have faith that they would be granted lucrative terms.
 The decline in exchange rates continued ana money was Tn abundant supply. The time is now approaching, however. when the tide Of currency movement from the in- terior Is approaching the turn. us indicated by the decline in the interior rates for ex- change on New York. This periodical source of the spring money market is a natural restrictive influence on speculation in stocks and there Is a tendency to anticipate it even before 1t does develop. Great attention and active discussion were given to the contest for control of the enormous resources of the great life insurance companies. Aside from the personal phases of the contest and of the merits of the dispute over the manner of administering the affairs involved, the bIt- terness evoked by the struggle Is witness to the vast importance attached to the control of the insurance companies.
 This furnished the text for much discus sion on the close affiliations between the great insurapSe companies banks, trust companies and railroad systems and the ef- fleets of the countrr- workings of these great institutions in each others affairs Tho ef feet was not stimulating upon the specula. tion in stocks
 Reports from Washington were revived of proposed extra session Of Congress for con- sideration of rate legislation and the pro- ceedings for an investigation of the Stand ard Oil Company were noted with interest So was the suggested possibilities of a crisis in our relations with Venezuela.
 Further cuts were announced on freight rates in the progress of the war for export traffic and there were complaints of freight obstruction from the stormy weather. The sharp selling movement of the last hour lished few sharp losses.
 Bonds were firm. Total sales par value. s5.64O.00o United States bonds were all unchanged on call.
 NEW YORK STOCK LIST.