The Montgomery advertiser., 1905-05-03
WALL STREET REVIEW
ANXIETY TO DISPOSE OF CERTAIN
 STOCKS AGAIN.
Speculative Enthusiasm Considerably Damp ened, though Episode Accorded with Usual Market
 Movements.

New York, May 2.-The character of the selling which met the opening advance m prices today carried sufficient warning that the stocks which were taken yesterday morning to check the demoralization in the market were being disposed of again
 It seemed quite evident that the hiRh opening had been helped for the purpose of making a better market for disposing of these stocks. This is strictly in accordance with the normal course of market move ments after such an episode as Saturday violent break with the supporting tactics of Monday.
 The appearance of this class of selling somewhat dampened the speculative enthu- siasm induced by yesterdays iconsiderable advance in prices. Even the conspicuous advances in special stocks later in the day diI not serve entirely to restore confidence in the stability of the market Nevertheless. quite a long list of effective gains were shown as result of the days business and amongst industrias especially the strong points were numerous and diversified.
 The conspicuous advances late in the cay were the result of a stirring ane wof the rumors of deals which have almost dropped out of sight in the demoralization of sem timent for the past week. The revival of talk of tho lease of the Louisville X Nash vile to the Atlantic Coast Line set afloat again various rumors regarding the rail- road adjustment to be worked out In the Northwest The stock itself had an imme- diate influence on the Vanderbilt group be- sides No detained information was given to the ends proposed with the proceeds of the new issue. but speculs i've sentiment 1ndulged Tn free conjecture alOnB lines that suited best the prevailing mood.
 The new stock is part of an increase authorized by the stockholders fully three years ago to be issued from time to time in the discretion of the directors. Plenty of rumors were current also of the distribution of Northern Securities assets in a manner to adjust all differences in that territory.
 Clearing house exchanges rose to figures near the record level, and this had some influence on the exposition that some large transaction in financial affairs was in course of completion. The lead and smelting merger talk had some revival in the natural course of things. Consoli- dated Gas suffered from the threatened op- posing legislation at Albany and other New York public utilities were somewhat af- fected in sympathy. The weakness at this point had some effect in aggravating tae early reaction. It's influence passed sN.ay with the later developments, but was renewed at the last.
 The weekly crop summary was regarded as satisfactory in its showing for the winter wEeat crop. March net earnings of Idii- roads made a further favorable exhibit, es- pc cially that of the Pennsylvania system. Tie softness of the market when 1t was sought to take profits on the days rise in diCated it's limitations and the irregular closing showed the days changes mixed and the extreme gains much reduced
 Bonds strong. Total sales, par value. $2,365.000. United States 2s regu- lar declned b per cent, and the old 4s F per cent on call.
 NEW YORK STOCK LIST.