The Montgomery advertiser., 1901-09-17
WALL STREET REVIEW MARKET WAS A RAMPANT BULL
 AFFAIR.
Even the Most Sanguine Was Not Prepared for the Action of Prices Yesterday-Confidence
 Was Strong.

NEW YORK. Sept. I6.-A rampant bull lowing the death by assassination of the Presi- dent of the United States is an anomaly Bald ly stated. that is what occurred today No one, even the most sanguine. was prepared for the action of the days stock market Much
 was heard Saturday and has been published since of the length to which the lamentabe outcome of the Presidents hurt had already been discounted in the operations of last week
 assertions were made with view to infiu-
 encng speculative sentiment and keeping up
 the market. Those who made the assertions
 sincerely probably had no idea of the extent
 to which the recuperative forces in the market
 would be affected. but. supposed merely that
 demoralization would be checked and the mar
 ket be able to resist violent losses Conn-
 pressure on the market would be successfully
 overcome. owing to the extent which specula-
 tive selling had already gone and to the ample
 preparations and concerted measures adopted
 by the clearing house banks and great capltsI-
 asc,nes sts o n tSe stock market The portion of
 the problem remaining to be solved was the
 effect which would be produced upon business
 sentiment in general throughout the country,
 and among the substantial investment holders
 of securities. The days events seemed to
 the future of business and the continuance of
 the country's prosperity. Powerful manlpula-
 pTiees. paIe especially the he opening which was de-
 signed to intimidate the speculative pear ele,
 ment It not onlv had that erect, put caused ,ased
 shorts, who looked for further decline
 There also was an abundance or oroers 10 Duy
 at prices below the market on the part or the
 investors and bargain hunters. which served
 as a protection against bear aggression. There
 was a considerable element as well Whicn
 looked for an opening break in prices and
 hoped to secure bargains by placing orders 10
 buy at the market. As the event proved: the opening market was from to points high CT than on Friday afternoon. There was iack of confidence in the early strength Of the market and there were many realizing move ments during the day. but the absorptive pow CT of the buying proved equal to all of these; and with a steady uplft the trading closed active and firm at about the top level or the day The solemn assurances given by the new President of the purposeT@5 maintain the | continuity of the Governmental policies was | a relief to capitals constant dread of change | The bank statement of Saturday encouraged the hope that the treasury's relief or the money market would prove effective against l money stringencies. Large dividend payments | today including distribution of SS.oOo,OOO | 10 Standard oil stock holders made themselves | felt in the money markets The days move | ment however. was based broadly on the as, | sumption that the death of the President and | other unfavorable factors in the business out | look have been sufficiently discounted In the | movement of prices of securities With prom | ise of betterment in future. -. u | Fxcept the special movement, the amount o | business done in railroad bonds was not large | United States new As advanced ! per cent l on the last call.