The Montgomery advertiser., 1902-09-07
WALL STREET REVIEW WITHOUT A CUE FROM ANY PARTICULARS QUARTER. The Opening Was Decidedly Firm With Much Strength of Under tone-Dealings Were
 Very Irregular.

NEW YORK Sept. 6.--In the absence of
 London quotations the local ma,ket was with
 out a cue from any particular quarter Nev- ..
 much strength of undertone The excellent
 showing made by Norfolk and Western in its
 annual report imparted strength to that stock
 well to others in the soft coal group.
 but Inc upward moyenent in Ontario ana
 Western following hard upon reports showing
 heavy strike losses, was Ut altogether clear.
 Reading di- play ed heaviness at the outset pre-
 sumably result of decline in July earn
 with a net loss St Paul and Missouri Pa
 cific, leaders of the previous day, were fairly
 of the buying being attributed to Rock island
 intel ests. he move in Peoples Gas and
 Brooklyn Rapid Transit appeared to have its
 oi ign in the operations of a prominent com
 mission house. During the first hour advances
 were scored by Republic Steel preferred. vir-
 nes polls St Paul and Sault Ste Marie, Sloss-
 Sheffield Steel. Pacific Mall. Laclede Gas ana
 the Cotton oil stocks The publication CT tne
 bank statement awaited with almost pain
 full interest. the interest halting somewhat m
 anticipation of very unfavoi able showing
 In point of fact the statement as a whole was
 faithful refet tion of the weeks operations
 although the loss of cash amounted to S6,-
 goo GOO was somewhat in excess cf expcr'
 calculations. The decrease of elmost So.ooo,-
 900 in reserves reduced the surplus to S4,-
 og7 o5O. the lowest figure since last May
 Prices yielded very generally under the infiu-
 ple's Gas making the greatest losses With de- eiines of a point or so elsewhere man tne ac,
 tive issues. A partial recovery was eHec'eh
 by some of these stocks named. but the clos
 ing as a whole weak and heavy. Barring e temporary halt the mar ket for the week was
 generally strcng and very active. so much so us to suggest at times return of the boom
 periods of the last few. years With the re
 sumption of business on Tuesday the entire
 list excepting few issues which seldom. II
 ever exert any influence. moved to nigner
 level. with Reading common in the lead. The
 advance was we'll maintained on the second
 day resulting in large number or new hish
 records. The United States Steel stocks. es-
 toIlr fsf.Fnr
 London buying and general belief or speedy
 termination of the pending litigation: In the first douche. the primary causes oeins oha a p rise in call money which advanced to per
 cent. fears of serious injuries to the fres s,,, and repressive measures applied py the con- servative element. The chief feature or the week Rading common, which Tn the nist | two eayY was dealt in on an enoI nous scale, with attendant rumors of competitive Duyins.
 Lasr n on ahis beaxS sSes sene by the
 ment no less than to the belief that us con | trol is lodged with one of the main trunk | lines Pennsylvania received considerable at | tention cn the second day. making sharp gains | largely because of it's excellent tanic re l control os Reading. Later in the week st; Paul and Missouri Pacific assumed marked | leadership The first named sold higher tnsn a ever before and reviving rumors of close an , ance with Missouri Pacific. The practical col lapse of the soft coal strike in West Virgin
 was of assistance to the stocks in that group ! which gained on the week with the hard coal CTS. Except for generally prosperous condi- tions such as increased railroad earnings many
 of which were noteworthy for their gains. ex- cellent crop reports and an all-around feeiing of optimism there was little to account for the strength of the market. London was d factor throughout the week, although only
 on one occasion did she buy on balance The local banks have lost according to careful es- inmates, something like S6 ooo 900 during the
 week. S4 ooo. 900 to the sub-treasuty the
 balance to the interior; As result of the sys, |
 tenn of averages employed by the Associated Banks, it is quite likely that this loss Will show to the full extent in the weekly bank statement. though further decrease Of sur sur plus reserves is regarded as inevitable: The
 second furry in call money was not of long duration and the closing quotation for money on demand was really the lowest or the week Time money while in moderate demand. was not loaned in any great volume because of the higher rates for call loans. There were no developments in foreign exchange, but rumors of approaching gold imports were held Large dealings in semi speculative issues or oonds followed symps thetcally the course of the stock market. Dealings were rather irregular and there was a good undertone for the bond market throughout. United States 2s and 3,s | coupon and new As registered advancel <, | per cent. and the old As coupon per cent 1 as compared with last weeks closing call