The Montgomery advertiser., 1901-08-21
WALL STREET REVIEW MARKET SOMEWHAT BROADER AND MORE ACTIVE. Still No Evidence, However, of Large Participation on the Part of
 the General Financial
 Interests.

NEW YORK, Aug. 2o.-The stock mar ket was somewhat broader and more ac- tive today, but there was still no evidence of any large pa .tieipation in the market by the general financial int srssts on lare scale. The questionable position Of the United States Steel stocks and the doubtful outlook for the labor situation are still a drlg on the general market, all though the market for the United States Steel stocks themselves and their price movement are narrow. The market guar ply able to take charge of all the stocks offered. showing that the companys shares have come to be closely neld. But the supporters of the stocks are inclined to take profits on holdings thus acquired uPon any advance n price. and they bid up the prices when anything like an out side demand develops for the stocks. Un- der these artificial conditions the move ments the stock has little significance. The general list showed a disposition to- day to ignore the steel stocks The rail roads concerned in the Northern Pacinc settlement and other allied by identical ownership or otherwise, resumed the lead erShip of the market today. rms may have been based upon published report of prolonged conference yesterday at Bar Harbor between the three fnanciers who conducted the Northern Pacific con test and it's settlement. The Morgan and Hartman roads were generally anected iE sympathyS including Illinois Central Chic go and Alton. Southern Railway and Chicago, Indianapolis and Louisville. The anthracite carriers ma a1ifested some strength and the bituminous coal carriers made gains, although Norfolk and Vest ern and Chesapeake and Ohio suffered from profit taking. sharp decrease in earnings of Norfolk and Western for the second week in August seemed to emphasize this disposition. Some large individual blocks of Southern Pacihc, Union Pacific and St. Paul were taken in the last hour. The stock market con t,nued to show sensitiveness to develop ments in the money and exchange market. A sharp recovery in sterling this morning led to some reaction from the opening strength in stocks. Offerings of wheat bills were reported smaller in connection with reports of smaller seaboard wheat clearances which caused a reaction in the wheat pit But this influence was largely offset bY the large receipts on account or Australian gold deposited at San Fran ci,co. The sub-treasurys debit balance at the clearing house of Fl,S2,S2 was caused by receipt of checks against gold on the Pacific Coast to the amount of sl;- 400 OO0 A further shipment of 2,5O.OoO IS on the way to San Francisco from Syd- ney. This makes 1t evident that the London market will find way to meet it's gold obligations to New York without stress and possibly without actual ship ments of gold. It is to be noted, however. that United States treasury operations continued to drain the money markets, the Governments surplus thus Tar tnls month having reached $1, ,534,021. while Tor the corresponding period of last year the Governments fiscal operations showed deficit of $4.321, ,563. The market closed rather heavy under the influence or pront taking on the days rise. with no movement of signihcancse. Total sales, par value, s1.545.000 United States bonds were all unchanged on the last caii'