The Montgomery advertiser., 1901-10-03
WALL STREET REVIEW MARKET STARTED OUT WITH A
 RUSH. There Was a Short-lived, Active De- mand for United States Steel. Bonds Were Dull and
 Irregular.

NEW YORK. Oct. 2.-The market started out today with something of an upward rush of prices Apparently the professiohas uaess s,a.a ment of net earnings officially promuigateu last evening the market closed by the pres would have strengthening influence on the whole list There was quite an active demanu for while for United states steei S wnien FueI ed the price Y over yesterday. Coiorado r uel and Tennessee Coal showed some strengh on the assumption that the favorable conditions in the trade revealed by the statement or Steel Corporation earnings would beneht those companies also The railroad nst Was affected by demand for the snortS i, snd oui the market fell into dullness and heaViness, punc- tuated by number of weak spots among the industrials. The friends of United states Steei were inclined to attribute this weakness to the contrast afforded with the policy of that coni- pany in the publication or its % 2 put witS the rest of the market. and the professionai speculative sentiment in the street failed ap- parently to be impressed with the new policy of the United States Steel Corporation as an epoch making departure. The large pronts re ported by that company had some it ihe effect nevertheless. owing to the wide-reacn- ing importance attached to prosperous condi- tions in the iron and steel industry The dis trust left by the Amalgamated Copper ep,sode and the annual reports of one or two indus trial corporations recently showing net earn ings insufficient to pay the current rate Of dividend and a consequent encroachment on tho surplus for that purpose. probably accounted for the continued weakness in that class ot
 
 Presesd Steel Car stocks. Glucose and National Salt were notably affected, losing from 2ls to 4 points. National Biscuit. Rubber goods, International Paper and International Paper preferred fell from to ih Brooklyn Transit continued weak under pressure of liauidation. which is attributed to weak annual report expected soon. The stock fell extreme As to below 60. the lowest price of the year. Manhattan declined 2h partly in sympathy. The reduction of refined sugar explained the recent decline in the stock, which steadied toward the close of the day. ending with net gain. The level of prices generally was carried below last night, but net declines did not reach a point in important railroad stocks except for Missouri Pacific. The money mar ket continued steady and sterling exchange ad- vanced again. The demand was attributed to requirements for purchases of stocks bought recently in the London market The announce lnent from the Treasury Department that the purchase of Government bonds for the sinking fund would cease will cut off the main source of replenishment of the New York money market for some time past against the interior for currency. There was significant drop in quotations call for Government bonds following the announcement The postpone ment of the meeting of the Atchison directors. which was expected to increase the dividend rate of their common stock, caused some dis appointment and depression Covering of shorts rallied the market slightly and 1t closed about steady.
 Railroad bonds were dull and irregular. To- tai sales. par value, Sl ,605. 900. United States old As declined A, the 3's and DIS !? and the new As h per cent on the last call.