The Montgomery advertiser., 1901-10-29
WALL STREET REVIEW THE DEMAND FOR STOCKS WAS
 AT A MINIMUM. Pressure Gained Force and at the Last Hour Became Acute-Real- izing Was Evidently by Re-
 cent Speculative Buyers

NEW YORK, Oct. 29-There was no very
 aggressive bull spirit manifested from the out
 side in today's stock market; attnougn @ tnete re
 time and rather halting attempt made to
 revive the spirit of the bulls by bidding up a
 group of specialties about midday: The de-
 mand for stocks, however. was at mini
 mum and prices kept sagging to a lower level
 1sseP ns ps9 of daS ssed
 in the last hour of the session became acute
 The bears added their selling to the reailz-
 ing and uncovered stop loss orders The real
 izing was by recent speculative buyers cvi-
 denty was shown by the conspicuous
 der recent manipulation for the advance. The
 weakness became quite general at the last
 and the majority of active stocks feiI point
 west was 5A. Delaware and Hudson 4. St;
 Paul 3% Amalgamated Copper 3b. General
 York Central 2ss. Union Pacific 2A. Missouri
 Pacific, Northern Pacific preferred, Baltimore
 and Ohio. Tennessee Coal and Reading pTe, gre, room traders caused only feeble rallies and
 the closing weak at about the lowest The and prospect of gold shipments to Paris this week prompted the speculative liquidation: But 1t was true also that spirit Of ,ds dSuS, arcse as to the recently current rumors which | have been the basis for advancing prices. | The clouds of uncertainty which have gath | cred again over the Northern Pacific settle | ment seemed to gather gloom in the specula' l tive mind after Mir. Morgan had arrived al | his office and no instantaneous statement of g | settlement was given out. The weakness oi copper was also an unsettlng influence. The selling of this stock and of sugar was very heavy for Boston account. Call loans rose today to per cent. and the assurance which was professed on Saturday over the increase | in the cash reserves of the banks was dissi- pated and yielded to account of large loar expansion. Foreign exchange continued firm today. but no gold was engaged for export tc Germany by tomorrow's steamers. In fact the discount rate at Berlin eased off frac tion today and sterling exchange hardened indicating a reaction of the pressure at tha point There was no rally, however. in sterl ing exchange at Paris and 1t is generally ex pected that gold will go from New York tc that point Thursday in considerable vol ume. Call money stiffened sharply in Lon don and open market discount rates rose wei above the bank rate, indicating an early ad vance by the bank. In the domestic money market a renewed activity of money at West ern points was reported and New York ex change at Chicago dropped back to 25c dis count while shipments to New Orleans iron here continued. The optimists urge that any considerable rise in money rates here would divert funds to this centre. But the analogy of the Fallof 1899 and the outbreak of tht Boer war is fresh in the mind when the cal loan rate on the Stock Exchange advanced tt lS6 per cent without preventing the current export movement of gold The daily surplu! of the Government revenue is also rapidly augmenting in the latter part of the month | making an additional drain on the money market.
 | The railroad bond market influenced somewhat by the weakness in stocks bu changes were not important. Total sales pa \ value, S2. | co 900. United States bonds wer all unchanged on the last call.