The Montgomery advertiser., 1901-11-26
WALL STREET REVIEW THE MARKET GIVES WAY TO GENERAL WEAKNESS. Early Taking of Profits on the Short Side Caused the Only Re-
 coveries-Trunk Lines
 Led Advance.

NEW YORK, Nov. 25.-From general strength during the early part of the day the before the close and ended under active sell ing pressure with only such recoveries as were sSert sSe 10 side se by the Sears It was notable in the early strength that many stocks re. sponded very moderately to the ouoyaht ant ,se r1se was effective throughout the list, but It leit the leaders of the advance with considerable the effective leaders of the advance. espe- cially New York Central. which added 41s to offered to explain the advance beyond the many rumors now prevalent Of vanderbilt deal The movement in Pennsylvania was clearly a supplement to that in New York Central and was in the hands Of professlonai spectators who saw the force of an argument between the two stocks. The Pennsylvania ex- treme advance was 3H The late reactI1n spt nd eli for Pennsylvania of iN. The rise in New York Central carried with 1t the junior Vanderbilts
 e the ssTe eTeent for or Michigan Central There was enormous buying of the Readings and South- ern Railway stocks, but their advance never never ing strength the scramble on the part of the bears, who went short of Amalgamated Copper of Saturday. in the report. aenlea aIteI the market closed, that the Attorney-General of the United States was preparing case against the company under the anti-t law The opening rush carried the stock lb over Saturdays closing level and this proved the highest point of the day. The palpable indis. renewed attack and the final slump to below 30 was the principal unsettling faclor ih tne Closed at 80. The heaviness of the trans coll tinental stocks was feature Of the trading posed to pay higher prices for those stocks until the result is disclosed of the agitation in the Northwestern States against the Northern Securities Company: There was an upward spurt of 2A in St. Paul. which seemed to be
 @ Se SE hs of in that group. There was more or less real izing in stocks. which have recently advanced under cover of the early strength in the lead CTS but it was not more than 1t usual on the progress of a bull market. There was no change in the situation in the money market Foreign exchange continued to drop away from the gold export point Ihls weakness the expected demand for remittance on ac count of the last installment on the Brltlsh loan having been anticipated by extenslNe pur- the sub-treasurers to the loan was provided for through other scources It is apparent that there has been renewed borrowing abroad which involved sales of exchange bills which broke the market and induced realizing by The proceeds of this renewed foreign borrowing were used for the repayment of loans to the local banks, disclosed by the loan item in last weeks bank statement It is not en- tirely clear that the London market is sui over the turn of the year deposit at the | sub-treasury of S32o, 900 for transfer to New | Hdence which has been felt that the interior l demands for currency when transferred Tor | the reason that funds would now now Dack 10 | New York from this time. increasing the | volume. Except for the strongest stocks the l weak closing of the market left the net losses | predominating. running to point UT over in | some cases.
 Railroad bonds were firm. Total sales. par | value. S3, 365. ooo United States 3's and the | new As advanced 1s per cent on the last call
 Money and Exchange.
 NEW YORK, Nov 25.-Money call rath- CT easier at 3lhd4ls per cent. last loan at 3la; ruling rate, per cent.
 Prime mercantile paper. 4lad5 per cent
 Sterling exchange steady, with actual busi- ness in bankers bills at 4. 97 for demand tnd 83s.64 83% for 60 days; posted rates 4.S4le @4 95 and 4 6S64 S81s.
 Commercial bills. 1. .S3d4.93la.
 Bar silver. 56; Mexican dollars 45%