The Montgomery advertiser., 1901-11-23
WALL STREET REVIEW SPECULATIVE ACTIVITY IN EU-
 ROPE IS AWAKENED. Clearing Up of the Monetary sltua- ton Leaves the Way Open
 for Factors Making for ]; Higher Prices.

NEW YORK. Nov. 22.-The strength in to- days broad and animated market Was ., ine sequence of the rude awakening or specuiauNe activity in Europe. large bear account was caught uncovered as consequence or tns p1I eistent short selling by the pTStess,en S sssnmption that the money market coula not esSaPe .S o.a = squeeze between now and the rs, s oi ,,s s" North west to the Northern Securities Company would disseminate depression throughout the market The unexpected collapse m .ne TOT eirn exchange market and the prospect of recuperation for the money marke. ie.. S .nS bears without much ground to stand on and was a considerable influence in the recovery ot prices. But the clearing up or tne noney e ti, srr nation leaves the way open Tor the operation of various factors making for higner prices. The character of todays market made it ap. had been waiting and eagerly on the watch for just this development The demand Tor beavv scale and the days transactions were rim in once more to over million snares. The considerable advance oarihs Sns aai,ngs ng and last prices of the principal active stocks were between and 2 points above the pest. me ne ths acute weakness in Peoples Gas on the de- niaI of q restraining order against the assess- ment of taxes on the alleged high valuation of Illinois corporations. The stock tumbled 2s1 from the best and Consolidated Gas sumped A. The nhsssan aggTessaye continned vide ly diffusive influence in the whole marke,, ia,L No information was forthcoming to eSplaln @ ,nSse ,rsi oy % %snhattsn by New York Central and by a coming distribution of the surplus Tn h uhe sidiary companies The determination ot Pennsylvania and the aggressive bidding up or Pittsburg c c: and So; Lotus n,,rnose to rectify the disproportion in the prices of these st9eHs % compared with the Nanderoii,s, ,,iar me pine ner cent dividend basis was an evidence of the prosperous conditions ruling in the sort coai trade, which was reflected in the absence ot .ract;callv that whole group of stocks. The October statement of the net earnlnss or New Jersey Central showing an increase or toberd of last year was ample expiahaton or the recent strength in s the eInhanSs market xas due to the sudden falling on in the de- mand to cover maturities. which mas peen n Teature of the market for several weeks. The fuTther decline in the price of gold in London and an advance in the price Of sterline rates at fars,sn reouiTements for gold are satisfied for the present. The net result or the m terior movement . Sf Srsn oS account of gold eTnort The banks have lost to the sup-treas- ury up to Thursday evening 1sr tSs eoiS .e1 ,rartsd The net gain in the interior move rnsnt is estimated at something over Sio.ooo:- Se Sov xainers for the week to the extent of sev- srai hundred thousand dollars
 The railroad sacs psa sSnd vaiss iIs was States refunding 2s advanced per cent on the last call.
 Money and Exchanges
 Nfw YORK Nov. 22.-Money on call firm . Et sG4lk per cent; last loan and ruling rate'
 Prime mercantile paper. 4lsa5 per cent.
 Sterling exchange weak with actual ousi; ress in bankers bills at 4.67% for demand and 4 s4 for 60 days; posted rates, S4' s51s @4 9eh74. eo. ~
 Commercial bills, 4 4S3&44.S44.
 Ear silver 56ls; Mexican dollars, 4o
 Government bonds, strong; State bonds, in- active; railroad bonds, strong.