The Montgomery advertiser., 1901-10-15
WALL STREET REVIEW EFFORTS TO CAUSE ADVANCE
 IN PRICES. At First Success Was Realized, But as Securities Went Up the Bull Faction Was Deserted.
 Bonds Irregular.

NEW YORK. Oct. i4.-Effor;s by large spec ulat1ve interests to sustain and advance the stock market continued in evidence tndH!' They succeeded in overcoming the early weak ness. but as the level of prices rose over ma! the advance lost its force. It was not az gressive at any time and was restricted to few stocks. notably St, Paul and the Fac'nGs, .t, The elimination of large proportion or the short interest a result of advance late iast week deprived the market of an important element of strengtn.lt was evident that sus- tained advance at this time would have to depend on the efforts of the large hnancial powers. These elements were supposed last week to have embarked on a campaign for the advance owing 10 inside informatlon or plans to settle the Northern Pacific tangle. but apparently last weeks reports on that subject were either not well founded or pre- mature. The suspicion has gained force that lative measure against the shorts, or was de- signed to have the least possible effect on speculation after actual announcements Of some such measure. The perception emerges that measures to finance the Northern Paclfc settlement are the great object to De attalhed att at present. rather than large ulterior projects of additional consultations. The prevalent ru- of assignment of the financial powers of the control of St. Paul to Union Pacific for a compensation a relinqushment for the control of Northern Pacific to the Morgan H!ll interests does not find great credence Such a settlement would not provide for the neutrali- zation of the Burlington system as corr. petitor of Union Pacific which Was the vital quarrel. Nevertheless, St. Paul showed itself the most sensitive stock in the market today,
 
 later tn 2L above The rest of the market followed the movement in St. Paul, though ever lesser range throughout In spite of favor table interpretations of Saturdays bank statements there is some uneasiness remain ng of the safety of the money market for the rest of the season The seemingly acute de mand for funds at Paris awakens considerable surmise to the extent of the demands ta be satisfied at that center. The prevailing ease of money in London is dependent upon the large amounts of French capital loaned in that market. and heavy withdrawals from Lon don may have serious effects. The whole tone of foreign markets continues much depressed. At the same time 1t is to be noted that the rise in sterling exchange here has been checked Today's action by the Bank of England in ad- vancing the price of American eagles even in dicates some apprehension of future demand for gold from New York. Should the demand for sterling exchange for the purpose of re- payment of foreign borrowings come to an end and the belated movement of cotton quick ly grow. there can be little doubt that ex- change would fall to the gold import point all most at once The notable decline in the movement of grain over the railroads exercised .ome depressing influence on the market. The closing unsteady, but at top prices for number of stocks.
 There was decrease in the demand for railroad bonds and the movement of prices was irregular. Total sales, par value. S2 900, oCO '. S bonds were all unchanged on the last
 tall.