The Montgomery advertiser., 1901-10-30
WALL STREET REVIEW PROFESSIONALS SHOW SIGNS OF
 RELIEF. Lively Bidding Up of Certain Stocks by the Bulls-Sharp Realizing Movement Towards
 the Close

NEW YORK Oct. 2e.-The professed anxie- ties felt by the professional operators in stocks yesterday seemed to be considerably relieved today. Their professional brethren of bullfsh tendency added the incentive of lively bld- ding up here and there. As a consequence a cor siderable demand to cover short contracts made the market strong during the early part of the day. It was argued that with the easier tone of exchange and the moderate the authorities of the Bank of France, the probability ot an outgo of gold on Thursday of this week was considerably lessened. The announcement just before the close of the market of an engagement of $500 900 in gold for shipment on Thursday precipitated sharp realizing movement and wiped out a good part of the earliear advances. Another S2,OOO, OOO engagement was announced after the close. It was very notable that the stocks that weref weakest yesterday were foremost as a rule fin the recovery today. The recovery did not reach to the full extent Of yestecday achieved also on a considerably smaller vol ume of business. There was an expectation this morning, among the small speculators at least, that formal announcement might be made during the day of an adjustment of the Northern Pacinc dincuity: Lnis, tne Soinpe nIs , be a daily incident for some time to come, as consultations on this subject are constantly held, but with much remaining to be agreed upon. Among the days special movements the sensational rise in Michigan Central re- vived the rumors of coming developments in the Vanderbilt group and was reflected in sharp advances in other members of the group. Michigan Central sold yesterday at l6. an
  sale in last March. Today 1t sold in 100 share lots successively at Il8. l2o, l25, l35 and I4O, after which it relapsed to l 30. No explanation forthcoming that develop ments are pending which will benefit the con- ditions in the trade. There was some support also for the United States Steel stocks accom- panied by reports of great activity in that in- dustry. Brokers credited with acting for in- sders both in United States Steel and Amal- gamated Copper brought their respective stocks together today. These interests have been supposed to hold divergent views of the specu- lative outlook for time. The buying of Amalgamated Copper for Boston account was very large as 1t was of other stocks. This was supposed to be buying of stocks sold yes terday from that source. In consonance with the upward movement of prices, the prevalent view of the money outlook was less pessimls- tic, although conditions in that market re- main the same. number of feeble condi- tions which ignored yesterday in the selling movement came up for consideration and continued the trade activity as reflected in the large bank clearings throughout the country and the sustained increase in rail road earnings. Reports today of September net earnings showed increase over Septem- Der of last year for some of the important systems as follows: Atchison S423,966; the Reading System, S9o S53; Northern Pacific. S363, 227; Erie. S392,227, and Chesapeake and Ohio, S3I,775. Amalgamated Copper was the only stock to recover all of yesterday s decline. The closing was dull and heavy at the reaction.
 Railroad bonds moved narrowly and were irregular. Total sales. par value, S .S75, 900 United States new As declined A per cent on the last call.