The Montgomery advertiser., 1901-10-25
WALL STREET REVIEW SHIFT FROM PACIFICS TO THE
 CoALERS. Enormous Realizing in Stocks Which Have Been Advanced by the Tactics of the Profes- sional Bulls.

NEW YORK. Oct. 24.-Today's stock market
 showed what is frequent in the progress of
 professional operations in the market TOT an
 advance namely, the shifting of long accounts
 from one group of stocks into another by real
 izng where an advance in prices has already
 ane Ths Rropp aroU selected for the
 advance today was the coaiers The plausible
 reasons for the advance in the prices or these
 stocks were the fact that the present year g output promises to he the largest on record,
 while prices are firmly maintained at profit
 its transportation to market. The policy adopted of beginning to advance the price or
 Sua, imum intended on Sept. l. This had the result
 of keeping up the demand all through the
 Summer months instead of throwing the re;
 quirements for the whols Winter on the period
 of cold weather, but confidence is professed
 that the business will continue large through
 the Winter and much was made today or re, ports that only lack of sufficient cars placed a limit upon the anthracite and soft coal move
 ment. While the effort was ratner n ooVious nS ,S the causes which moved them, tnere was enormous realizing in St Paul Ohion FaG,nS 'hinS have been advanced by the recent manipula- | tion Rather less heard of the Northern Pacific settlement and the working out or ex- tensive additional plans in the trans -continen- | tai railroad field. The forcing to cover or q | large outstanding short interest is an evident
 factor and probably motive for the opera, | tions for the advance. The failure or small
 brokerage house not member or she so,,,e nsoCS ns | the stocks recently advanced, was an indlca- | tion of the distress of that element. The heavy | profit taking in the Pacihcs and St Paui | was ernphasized by the decided weakness or | Peoples Gas on threats of continued hostile | law suits. The stock fell an extreme 5 points, closing at about the lowest. Amalgamated Copper was also decidedly weak early in the day the personality of the sellers giving the appearance of inside liquidation. The stocks rallied we'll however, and closed with a small net gain. There rather more urgent seii- ing of the United States Steel stocks than Tor some time past. but the decline was restricted
 to a fraction and was partly recovered Among
 the gains that in Lackawanna reached D.
 Delaware and Hudson and Baltimore and ohio
 B. Chicago Great Western preferred 41s ana others of the coalers between l and g. Fart of these advances were yielded before the closing which was heavy. and near the lowest for some stocks. St. Pauls extreme decline was oA, Chicago and Northwestern 2h. Union Pacific H and others a point or over. Con ditions in the money market were without not able change. There was a pause in the ad- vance of foreign exchange owing 10 the lareer receipts of cotton bills. Apparently there was renewed selling of long sterling with view to covering at maturity. The weekly state ment of the Bank of France showed strength. ened condition but money rates continued nara
 in Paris and over a million dollars was With drawn from the Bank of England TOT snip ment to Paris. .,, ,.
 active but realizing in the convertible bonds made it irregular. Total sales. par value,
 S3 525 GOO United States bonds were all un- changed on the last call.