The Montgomery advertiser., 1901-10-16
WALL STREET REVIEW THE MOVEMENT OF PRICES LACKED CoHERENCY' Market Finally Gave Way to weaA- ness and Closed at Level fs Lower Than That ot
 Day Before.

NEW YORK, Oct. l5.-The movement os o. prices in today's stock market lacked es cies nes and coherency at all times. Opening Weahness gave way to A period of strength which was met by profit taking. and the resuie,ns s.sss,,e se tion was vigorously contested oS rbe whole manipulation of Pennsylvania me anS market finallv>-vaye way to weakness au closed at a-1evel lower than yesterday nee losses reaching point or 9yer Th n, m force for rise in the market was wha' M ,'sh sts be called the formal invitation ss1sa ,sa ryhic to follow his leadership in specuiauon I9r the rjse with a suggestive glance towar9s Southern Pacific as an avaiiapie naarencs in circular form yesterday, with an appropria.e demonstration in the market to herald II; AS 5 the author has been associated m the wan Street mind with the organized support Of the United States Steel stocks, those stocks shaIeu in yesterdays demonstration put .ne pan,sc indeed started off with a furry and St. fauI made a preliminary advance ot lA. other fact that heavy realizing was going on in the Pacific group of stocks and St faui eeINeu still further to disincline the public to accept the invitation to speculate. movement m Pennsylvania, which developed later and when , carried the stock up two points was nomliaiIy based upon the heavy tranic ,hrnnce mouenrnr of old associations of the author of the 1nvlta. tion referred to with market movements or connection on his part with the movement The buying was congested, but also was the selling, one brokerage house Oeihk cIeulteu with sales of 20, 900 shares. The last prlce of the stock showed only fractional remnant of the extreme advance. Last weeks enthusl- asm over the alleged plan of proprietary company to hold control of Great Northern pre- ferred, Northern Pacific and Burlington and to realize large amounts of tied-ur capital mas entirely evaporated as the release of this capl- fal is seen to be contingent upon investing public taking the minority portion or the stock of the projected new company on the hands of the projectors The renewed heavy demand for currency from the cotton centers were a disturbing factor in the late traflnS. There were transfers through the sub-treasuTy of $500 900 to New Orleans, and or SSuO' OOo to St Louis. On the other hand rise In exchange at Chicago to loc premium marked the cessation of the demand from that guar ter There were no payments Tor bonds by the sub-treasury today. the belated settle rnent of that account having apparently been Completed and the government institution has withdrawn Sl 500. 900 from the market since Friday The downward tendency in sterilns exchange was checked and London was seller of stocks in this market. There was some what feverish speculation in AmalEamated Conner. which lifted the stock over point
 then drove 1t down three points and left Il
 with net loss of +. -
 Railroad bonds were quite active and gen
 eraIly firm. Total sales, par value, S2,7lo,OOo
 United States bonds were all unchanged or
 the last call.