The Montgomery advertiser., 1901-08-20
WALL STREET REVIEW
HOLDERS CONTENT TO RETAIN
 THEIR STOCKS.
Demand, Though Small, Sufficient to Overcome the Opening Decline and Establish a Higher
 Range of Prices.

NEW YORK. Aug. 19-Dealings In broad basis for generalizations. But the fact is significant that very few stocks were offering for sale. holders apparently being content to retain their holdings in spite of some of the developments unfa- vorable to values. so that the demand, small though 1t was, was sufficient to overcome the opening decline and estao- fish higher range of prices than those at the close of last week. The additions to the ranks of the striking steel workers over Sunday was responsible for the open ing heaviness not only in those stocks' but in the general list. The interests in- volved in the strike are so large that its vicissitudes affect the values Of all securi- ties. The market guardians for the steel stocks supported them and the starting of some of their mills had a reviving eff feet. But they did not fully share in the later recovery of the market which car ried some of the railroad stocks substan- tially over Saturdays prices. The ac- tivity and strength was confined to few stocks only and was apparently que 10 causes individual to those stocks. Nor folk and Western was most conspicuous under the influence of the net earnings of the company for the fiscal year, show ing a substantial surplus over the present dividend rate. Chesapeake and Ohio rose to a less extent in sympathy. me ouy.ns of these stocks was attributed to the Philadelphia account. The ngures or the coal export trade published this morning showing the value of coal exports double
  trebled since 1S91 were an influence in the strength of these stocks, which are pe- culiarly benefited by the coal export trade. Norfolk and Western rose 21z over Saturday. The rise in St. Paul and Atchi- son reached about the same figures in sudden spurt just before the close. Chi- cago and Eastern Illinois mounted points over the previous sale. Amalga- mated Copper resumed its upward move ment and there was some activity in su- gar owing to the concerted action Of the companies in fixing prices. The stock ad- vanced. but lost practically all the rise. money outlook than on Saturday after the bank statement. This feeling was due to several causes. The unexpectedly large decrease in cash was said to be the absorbed Bank of the Republic. The sub-treasury has made a small contribu- ton to the money market since Friday by reason of large pension payments and expenditures. But the sudden weakness developed in the foreign exchange market was the dominant influence In causing the better feeling over, the money outlook on from Europe would be forthcoming to meet any urgent needs on the part of New York. Demand bills fell today to 4s612 compared with 4.sS at the high point mately third of the range from the gold export to the gold import period Offer ings of bills, against which the exports, purchases of stock for London account by syndicates of the loans from European borrowers were all influential In the we eakness of exchange. The market closed firm, but very dull on the last rally.
 Railroad bonds were little dealt in and were irregular. Total sales, par value, s5e5, GOO United States bonds were all un- changed on the last call.