The Montgomery advertiser., 1901-12-10
WALL STREET REVIEW LIVELY SHAKING OUT OF LONG
 ACCOUNTS. In the Afternoon There Was a Scramble by the Bears to Cover
 Their Short Con-
 tracts.

NEW YORK Dec o-There was lively
 shaking out of speculative long accounts m
 break in prices, which caused some alarm
 during the early hours of the day In the
 afternoon there a sudden about-face in
 speculative sentiment and a disorderly scramble
 ensued among the bears to cover thelr snort
 maintain it's conspicuous position, even with
 the increase in animation on the market to-
 day The 9peaans d sieS sS,s proved T the low level
 of the day, but the demand dropped on as
 often as the stock approached Saturdays level
 although determined support was always of-
 fered as it neared 65. The bears became
 alarmed at the action of the stock and In the
 last hour rushed the price up to ~ in their
 frantic bidding against each other. The final
 price was but a shade lower.. The support or
 fered to copper at the opening break prompt
 ed supporting orders elsewhere and the mar
 ket steadied momentarily, quite list or ln-
 portant stocks rising frsGsGn 1 over rats to per cent however speculators LOOK trlgnt ana unloaded stocks. Prices generally touched the low point of the day on this slump, although individual stocks were forced down under sub sequent attacks carrying the whole market with them back to about the low level several times St Paul was notably weak and fell 2ss under Saturday. Manhattan also was vigor- | ously attacked and driven 2A under saturday.
 There was a good deal of calling of loans but l in seeking new accommodations borrowers Did l than was necessary, judging from subsequent 1 developments. The ruling rates were per
 cent, or even 51s per cent, and there seemed | of this fact emerged about the same time | that Amalgamated Copper began it's rally. | From a general level of point or more below Saturdays prices the market began to move upward and gained momentum There was a slight reaction before the close, but the ad- vance was renewed, making the closing ac- tive and strong at about the best The Gould railroads Manhattan New York Central. Su- gar, Pacific Mail and General Electric were all prominent in the rally and the day closed with net gains except in few instances The activity in the call loan market was reflected in the sharp drop in foreign exchange, both sterling and continental, which precluded all idea of gold exports for the present. There was some apprehension of pressure for gold at Berlin this week, but money was reported ened in that market. Money was also easier in London and further demand from Paris is not feared at present, as Paris bankers are again buying discounts in London. There were for transfer to the interior today but the spec ulative activity continued in the grain and cotton markets. The sub-treasury Is also talk ing up large sums on the Government surplus, which is running large. It was very obvious. however, that anxiety over money on the part of speculators much relieved
 Railroad bonds weakened in sympathy with stocks, but become irregular later. Wabash | debentures gained nearly per cent Total sales. par value. S5, l55, ooo United States bonds were all unchanged on the last call.
 Money and Exchange.
 NEW YORK, Dec. e.-Money on call firm | at 59715 per cent. last loan at 5l9 per cent;
 Prime mercantile paper. 4hg5 per cent | tual business in bankers bills at 4.S67s for de-
 mand and 4.s3%Q4. 93% for 60 days; posted
 rates, 4e4kg4.e5 and 4,99a4.ss1a
 l Commercial bills, 4 93la
 | Bar silver. 54se; Mexican dollars, ASA. 1 Government bonds. steady; State bonds, in l active; railroad bonds, irregular.