The Montgomery advertiser., 1905-07-04
WALL STREET REVIEW
| BURST OF ANIMATION ON THE l STOCK EXCHANGE.
Bulk o6 Day's Business Transacted
 During FiPst and Final HouFs-
 An Apparently Eager De- mend Was in Evidence.

New York, July 3.-There was a burst of animation in the stock mar ket during the first hour of trading to- hoped for investment demand for stocks had arrived promptly with the date for disbursement of July interest and dividends; It Is not impossible suggestion on the speculative senti. ment. The apparently eager demand had mostly expended itself by the end of the first hour and the bulk of the in that and the final hour. This strengthened the impression that the movements was more due to con tinuancV of the operations designed to improve sentiment than to the actual public demand for investment. Although the new interest in the market proved to be small, 1t did not appear that there of the holders to distribute their hold ings and take profits. The subsistence of buying movement after the first hour resulted In only a slight increase in the was in accordance with the expectation that the interval between holidays would prove dull and uninteresting. The stiff tone remaining to the money quirements served as an admonition that the funds released by the July dis bursements were not to come back so promptly into the market. There Is
 
 met this week to the western Pacifc bond issue. Beyond that Is the call of the Secretary of the Treasury of gov ernment deposits on or before July l5 which will call for upwards of $ll,O9O,- 900 from the national banks. In Lon don the relaxation of the money mar ket after the turn for the half of the year was more prompt as is usually the case but the price of gold was marked up in London. Sterling exchange re- ceded at Paris and hardened here, thus bringing into view again liquidation Of a further outgo of gold from New York. but these developments did not dash the hopeful spirit of speculative operators in stocks nor discourage their continued marking up of prices. Neither did the government report on the con- dition of cotton crop as of June 25. Con- sidering the extended speculation that has been going on in the cotton market and the inviting profits offered to those disposed to sell out, on an active de- mand, the violent upward bound in cot ton on the publication of the report Is eloquent of the feeling of apprehension crop The stock of Southern railroads were in fact rather neglected. The same was true of some of the actually active grangers stocks whose officials part of merchants in their territories on account of spring wheat prospects But the strength shown at other points was an abundant offset: Erie was an early feature and Reading resumed its leadership later in the day. Enthu siasts on Erie professed confidence that Erie would do in the future what Raeding has already done and the re- turn strength in Reading was apparent ly by reflex action. News did not figure in these other conspicuous move ments of the day. But the buying was renewed late in the day and prices rushed up to new high levels. The closing was strong and only slightly below the best.
 Bonds were firm. Total sales par value $3,405,0O0. United States bonds were unchanged on call.
 NEW YORK STOCK LIST.