The Montgomery advertiser., 1902-11-13
WALL STREET REVIEW
MARKET REMARKABLY FEVER
 ISH AND IRREGULAR.
Powerful Financial Interests Be heved to be Supporting Prices with Idea of Establishing Con-
 dition of Equilibrium,

NEW YORK. Nov. i2.-Transactions fin
 stocks sneas ran well over million shares again
 market oaa m The acsan feyersh and irresuar rant for the presumption that powerful nnan- cial interests had set themselves the task of
 supporting the market and establishing a condition of equilibrium. It was assumed in Wal Street that the selling of stocks had
 taken on an indiscrminate character that
 threatened serious results to substantial inter-
 ests. There was further threatening break
 this morning which was not unnatural m
 close of market s the
 thus caused in margins and the anxiety nrous-
 ed among outsider holders of stocks who were
 not in immediate reach of their brokers yes-
 terdav afternoon brought selling orders to
 commission houses this afternoon as a result
 of which opening prices were from l to 3
 points lower for practically ali the leading
 stocks These prices were the lowest of the
 day although the level was approached again
 on one or two subsequent dips. It became
 quickly manifest that buyers of unlimited re-
 sources were in the market and the heaviest
 vigorously bid up through floods of selling
 orders. The supporters of the market had a story time during the first hour and prices scale in lively and confusing manner. but by the end of the first hour the selling had oeen brought almost to a standstill. and sub the list. The support centered in St. Paul, Amalgamated Copper and the United States steel stocks. The buying of these stocks had a notable effect in reassuring speculative senti- nent just as their unsupported condition on carry uays or this week was notable nfu- ence which helped to encourage sentiment Chicago and Northwestern after a drop of points recovered to 6 over last night on the action Of the directors in favor of issuing new stock with rights to stockholders to subscribe at par. The is~"- of circular to the Colo rado Fuel stockholders asking for proxies on behalf of the interest controlling the principal Colorado railroad systems disclosed a new con test for control of that property which result ed in sharp advance in its price, Manhattan was Denehted by the publication of a very favorable annual report Aside from those de- Velopments in regard to the individual prop critics there was very little news to account Tor the movement of prices Upon the first re- covery after temporary pause, attempts were increased at the higher level and prices feii back again. Throughout the day, whenever prices declined effective support was forth coming and. on the other hand, any consid- erable advance invited renewed selling The closing was firm. however. and about the top level. Missouri Pacific offered effective re- sistance to reaction throughout the day. Money showed> rather easiee tone. owing partly no doubt to the extensive liquidation, accomplish ed and New YoIk exchange at Chicago rose again to par. but sterling exchange was firmly held again and it was considered possible up to late in the day that gold might go out on tomorrow's steamer for France. The market closed without any announcement beirx made of gold engagement
 Bonds were not we'll supported as stocks and were rather weak throughout Total sales par value. S4, 4So 900. United States bonds were all unchanged on the last cali.