The Montgomery advertiser., 1901-08-30
WALL STREET REVIEW
BUSINESS ABOUT THE SMALLEST
 OF THE YEAR.
The Recessions from Best Prices To- ward the Close of the Day Re- vealed the Markets Profes-
 sional Character.

NEW YORK. Aug. 2s.-Any hopes of a revival of speculation at this time still further receded today and the business about the smallest of the year. Such as it was was done above yesterdays clos ing prices, but the recessions from the best prices toward the close of the day revealed the strictly professional charac- ter of the dealings and left prices near to last nights livel. Yesterdays check to Tuesdays selling movement had appa. rently aroused some hope that renewed buying movement in force might be fmmi- nent. This changed the professionals on the buying side and accounted for the upward movement while the closing out of their accounts were equally responsinoie sn buyer in this market to an effective de- gree, considering the narrownees of the market. This coupled with free supply of grain bills, caused a further reaction in the sterling exchange market. The London money market at the same time hardened appreciably, in part owing to the dema nds incident to the payday for change authorities do not express much expectation of any inward movement of gold in the early future. The supply Of exchange bills is in some part connected stiffening of foreign money rates would be likely to bring demand for exchange in connection with the release of these loans. The weekly Bank of England statement showed an auulIlOndl strength ening of the condition of that institution but the return of the Bank of France is weak. showing decline in the gold re- serve, an expansion of note circulation and a heavy increase in outstanding loans Conditions in the local money market continued practically unchanged. There was an additional 900 transferred to Chicago by deposits at the sub-treasury and without this that institutions with drawals from the local money market had reached B, 721 900 up to last night. Coupled with the large special movement to Phila- delphia known to have occurred early in the week and the movement of currency by express to the interior a large decrease an item of next Saturdays bank state ment. The time money market is very duh, owing to the disposition of lenders to keep their funds in call loans to meet any emergency. There was some special de- mand at different times today for St. Louis and San Francisco and Canadian Pacific on the large net earnings reported for July, for Missouri Pacific on vague ex- pectations of coming developments, for International Power on the large orders Paper stocks on the conditions reported at the annual meeting, for the Fries on the hope that labor difficulties among the anthracite miners would be avoided, tral Baltimore and Ohio and some other stocks for undisclosed reasons. Ameri- can Smelling declined further on rumors or competition. but rallied sharply.
 There was liquidation on Standard Rope and Irvine issues. which broke the price of them 6 and points and of the incomes ? points. Central of Georgia first incomes fell 1%
 The bond market otherwise was slightly irregular. Total sales, par value, H ,S2o OO0 United States 3's advanced h and the new As declined + per cent. on the last call.