The Montgomery advertiser., 1902-09-09
WALL STREET REVIEW
PERSISTENT BUYING IN FACE
 OF HIGH MONEY.
Under London's Lead New. York Traders Ignored Last Weeks
 Bank Statement, Opening
 with Slight Irregularity.

NEW YORK, Sept. e,--Persistent strength in the face of continued high money. which at deelnns s 'a of local resourees ses wss the most der London's lead the iist ignored iast Week. trace of irregularity. although this condi- tion became rather acute before the end of at @ ps per eent w1sH
 ment which was again largely speculative, was was based s ed upon assumption that Ar,, sontnu- Reading common advanced about points in the initial trading. but soon lost much of Its the close Other early features ii, point of strength and activity were Missouri Pacific. Canadian % Pacific. psciac a % Coast. % Pacinc Mai and some other. railway issues. while in the industrial clasd there. were very material stocks, American Smeltng and Amalgamated Copper. New high records were again the or saun Ste Marie. Pacihc Coast common and second preferred American Car and Foundry. Pressed Steel Car preferred RspqRiican Iron Iron Pipe and Railway Steel Springs selling higher than at any previous time In the outside advanced that stock to l6h. a new high record and there was considerable activity in G due s pro no less than to apprehension over the mone- tary outlook, but from start to close the mar already has been made to the dominance of speculative trad ng in today's transaction and 1t Is fact that commission houses report little increase of investment and public buy ing. No less true Is it. however. that much of the days buying came from strong quar- ters. Missouri Pacific and St. Paul. for in- stance. being bought In large blocks by brok- CTS who were said to represent the so-called itel atng premises of bumper corn crops m Missouri and Kansas aye supposed to have stimulated the buying of tile railway stocks in that territory. London traded moderately In the smaI ket. selling about 5000 shares on halsnce out of a total of 25.oooa shares significant feature the unusually heavy demand for stocks In the loan crowd, espe- cially Union Pacific. for immediate delivery. Rumors of the purchase of the Detroit South ern and Pere Marquette by Pennsylvania n- tcrests not conf-msble Further Tn. dications of the disintegraton of the coal strike were at hand. but no news bearing on the .anthrac te situation was heard In the stronger In many directions. the trans-con,i- mental stocks leading with sharp gain in Atchison. Missouri Pacific Southern Pacihc, st.l Paul and Rock Island. the latter making time. Transfers of S35o.0oo 'c New Orleans for crop purposes were reported and the sub treasury had credit balance of S6oo. 900 at the clearing house as the result of heavy clined to per cent, closing at per cent There were further declines in sterling ex- change. The closing in the main firm.
 The bond market was active and nrm With on enormous dealings. There was no news to account for the extraordinary activity in this Issue. but the opinion was expressed that II was in the nature of a speculative movement Total sales (par vaiue). $4. 45o. 900 United States old 3s declined E per cent. and the new As registered advanced lh and the new 4s coupon lA per cent. on the last call