The Montgomery advertiser., 1901-10-17
WALL STREET REVIEW THE PROFESSIONAL OPERATORS APPEAR RESTRAINT. Disinclination to Take on Long Stock and Some Timidity About Max
 ing Contracts on the
 Short Side.

NEW YORK. Oct. l6.-Todays market re- hecfed a puzzled and hesitating mood amongst professional operators. who again made up ,,a une bulk of the market. There was a marked dls- inclination to take on long stock and some timidity about making contracts on the short side. Sevedal special factors turned the tlde toward depression and net losses were the rule although they are not important in the gen Arnsigafnated Copper which was aided by much outlay of printers ink unsettled the market early in the session The selling of fell at one time 2M under. yesterday and closed at a net loss of 2 points. The break cipient rise in PennsyIvania and it's allied stocks prompted by the report of ths sale ot S2o, ooo, 900 of bonds by the compsny This was held to account for the large buying of stock yesterday. The effect of today's an nouncement, however. afforded little opportu- chases, although much interest was shown as to the purpose to which the proceeds of the bonds would be applied As the purchases fcially acknowledged by the company, has been provided for by the additional stock issues. control of the Cambria Steel Company was being provided for. Bullish operators spread reports that purchasers Of Atchison were in no response in the speculation. The market showed tendency toward stagnation during the afternoon. until a sharp raid against the Southwesterns later in the day awakened some degree of activity at the expense of values. Losses of from | to 23s were made by prac- orators professed to detect evidences of inside selling which attributed to the account of the interest dominant in the group and sup posed to be prompted by poor outlook for traf- fic on account of bad crops. The money ques- ton continues a somewhat depressing in1u- ence transfer through the sub-treasury to- day of S28o,0oo additional to New Orleans adds to the apprehension that the belated movement of cotton will cause large require ments in that quarter. The transfers to New Orleans thus far this season through the sub treasury amount to only S4.o75. 900 compared with S7.42o, 900 to this date last year. Last year, however, the Galveston relief measures were responsible for a part of the movement. The renewed currency movement, the with drawals by the sub-treasury on account of the surplus revenues and some special denand from Buffalo to meet a run on a trust com pany there will affect the cash showing of the banks this week. The question is now canvassed as to the effect of the loan item of the purchase of Pennsylvania Company bonds, the soft coal consolidation which is in process of formation and the transfer of a great mercantile establishment which was reported this morning. The emphatic denals by President Hill of last weeks runors of transcontinental railroad consultations was another drilling effect on the speculation. The market weak until the room traders took their profits by covering their short contracts. Sales of Lake Erie at 300, a record price, was incident.
 Raiload bonds were less active than yester- day and were irregular. Total sales, par value, S2. 2S5. 900.
 United States 5s coupon advanced E per cent. on the last call.