The Montgomery advertiser., 1901-09-10
WALL STREET REVIEW REMARKABLE RECUPERATIvE
 POWER IS SHOWN. The Belief That the President Will Recover the Primary Cause of the Buoyant Rebound in
 Prices.

NEW YORK, Sept s.--The number of shares of stocks sold on the Stock Exchange durlng than was sold during the two hours of satnr- days session. This fact in itseif W0uin pe
 vousness and feverishness which pervaded the stock market Saturday, but the taole oI recoveries in prices which resntea M usom nndar une
 ing of the recupeFative power of the market. The confident opinion of the Presidents phy-
 sicians and friends that he is on the way 10
 safe recovery from his wounds was of course
 the primary cause of the buoyant rebound in
 prices The efSGt vas % saows ties nos as,y marse,s
 of the world The secondary cause was the
 comprehensive and eHective measures con.
 market by the clearing house banks and great
 financiers of the metropolis. The effect of these
 measures was seen In the success with wnicn
 the call money rate was repressed to a per
 cent level Just what the measures taken were
 was not disclosed. but the large sums of money money
 on the floor of the Stock Exchange to place
 in call loans at 6 per cent, suggestsd that
 Sests fop %aS Ss Ssns purposs Tie Clearing
 Committee was conveniently at hand all day
 to take sny action h.. tha s, Mss no formal ses
 sion of the committee and no steps were taken
 by them until after the close oE the e stScs ar lv Gage advising him of the committees view that some action by the Treasury Department situation The special circumstances which make the operations of the Treasury Depart ment embarrassing to the money ulaIhet nave been too often stated to need special descrip-
 tion here. The enlarged surplus In Govern
 ment revenues by reason of the great decrease in the expenditures without corresponding de- crease in the income is taken daily from the
 open market and from the circulation of large
 sums of money, just at the time when the
 movement of the crops of the expanding iati
 requirements are making the years largest de-
 mands for money Some expectation or actlon
 by the Secretary of the Treasury for relief
 of money market played it's part in the day s
 strength of the market before the action of the
 committee was known The tension of the de- mand for money here was shown also by the decline in exchange on other points. Both sterling and continental exchange fell sharply, causing renewed talk of engagements of gold for import, but none were announced. Chi cago exchange on New York also rose to with. in 10 cents of par. but s25o, 900 was deposited at the sub-treasury for Chicago and $26, 900 for New Orleans In view of these considerations the collapse in the money rate late in the day is less convincing than it would otherwise he lis, occurrence after the demand for the day had been largely satisfied might have been due to manipulation. The market closed strong at near the top, met gains for the principal active stocks running from to points and for St. Paul 6ksSt Thus large part of Saturdays losses were retrieved. ,u Railroad bonds showed recoveries also put in much smaller degree than in stocks Tota sales, par value. LOGS. 900. United States bonds were unchanged on the last call.