The Montgomery advertiser., 1901-08-24
WALL STREET REVIEW
PROFESSIONALS DECIDED TO AD-
 VANCE PRICES.
Dominant Speculation in the Pacifics and the Southwesterns, Union Pacific Leading With Ex-
 treme Rise of 2H.

NEW YORK, Aug. 23.-The Wall Street district had more appearance Of anima- The prolonged and persistent resistance of the market to any factors of depres- si o1 and the continued scarcity Of stocks offering. notwithstanding the very con siderable advance in the level or prices during the last two weeks apparently D .umpted the professional traders today as though by common impulse % inauyu- rate a movement to put prices Up. Tnere was no indication that the general pubic was taking any part ir the movement, the commission house continuing to complain of lack of busina s. but the proiessional operators at work made play with a Ireer he nd that had been the recent rule. There were no very large individual transac- tions. but the number of 1000 share lots was very conspicuous and was Wch ols- tributed throughout the room. The dom
 Southwesterns, Union Pacific leading the railroad list in point of strength and ac- tivity with an extreme rise or 2S. Ihe so-called 1ould stocks were all active ana strong, including the Denver and Rio 0rande stocks and the Colorado and Southern stocks. the latter apparently on a supposition that developments are im- pending looking to its absorption into the Gould system. The grain-' carrying roads as a whole were affected by the decided weakness in the corn market, indicating the recuperation in the corn crop; The continued heavy foreign demand TOT dLt oOON condition of that crop was also an ele- ment. The Amalgamated Copper was in very large demand, notwithstanding the denials of reports that further absorption of copper interests was intended. The extreme rise in Amalgamated Copper was 2&. There were reports of coming rights on Baltimore and Ohio to subscribe 10 new stock to be issued in connection with the pending reorganization of Pfttsburg and Western. The minor steel stocks were strong, Tennessee Coal rising 3k. The United States Steel stocks opened a fraction higher and were held almost i'm movable all day, the extreme c nuctuati0ns ansnts among the minor railroads and special ties and the coalers continued to show strength. The preliminary estimates for the weeks cash changes were apparently relied on al foreshadowing a strong bank statement. On the ordinary express movement with the interior. the banks seem to have gained upwards or rnii- lion dollars. and although the earlier gains from the sub<treasury have been wiped out, the loss to that institution is only S160. 900 The sub-treasury figures include the receipts to the banks on account or Australian and Klondike gold and also the deposits of currency for telegraphic transfer to the interior. These figures do not seem to promise very strong bank return and 1t is explained that special remittances to Philadelphia on account or subscription to municlpaI oono SsSe tSe Bethlehem Steel Company are not in- cluded Today there was further oe- cline in New York exchange at Chicago 10
 50 cents discount and an additional S5o,Oo was deposited at the sup-tredsuiy ioi transfer to Chicago .A.
 The railroad bond market shared In the greater activity and strength Of the stock market but sReeula.ay,s ss,es D0pa nar Value s2
 5s5. 900. United States bonds were all uh- changed on the last call.