The Montgomery advertiser., 1902-09-03
WALL STREET REVIEW
INCREASED ACTIVITY AMI
STRENGTH APPARENT.
More Than a Score of Stocks Etab.
lished New High Records-No
Specific News to Account
for Improved Conditions.

NEW YORK, Sept. 2.-The resumption Of
operations in the stock market after the triple
and strength in the entire list. More than
score of stocks established new high rec
ords. among them being Atchison common.
Lous. Colorado Southern second preferred
Detroit Southern common and preferred Mis-
souri,. Kansas and Texas preferred, st. Louis
Southwestern, Norfolk and Western, Pennsyl-
vania Baltimore and Ohio. the Readings. the
st. Joseph and Grand Island second preferred.
Toledo, st. Louis and Western common and
preferred. Wheeling and Lake Erie common
and second preferred and the oss-Shenteid
Steel issues fsosors were last ,n
strength OF Americans abroad. London buying
on balance to the extent CT 10000 shares,
news was heard to account for the improved
conditions and general enthusiasm save In the
case Of anthracite coalers. concerning which
there appeared to be a fast Increasing BELIEF
fostered in high circles that the strike Is near
ing an end Reading common was the feature
ing at the highest figure of the day on trans
actions aggregatins over $50. 900 shares. or
almost one-quarter Of the days total opera.
tions The other Reading issues made materia,
gains. as did also Lackawanna, Delaware and
Hudson, New Jersey Central ana the ErfeS
There were rumors that the heavy buying of
condition savoring Of corner. The buying Oh
this stock came in large part from houses
great extent the strength of the Western rail
road stocks was ascribed to the better outlook
resulting from the new agreement 10 auNdhce
grain rates to last Springs basis from Missouri
River to Chicago and St. Louis points. Rail-
road returns as reported for July were in the
main satisfactory. Such properties as Louis
Vile and Nashville, Union Pacific, ST. Paul,
Norfolk and Western, Wabash, Minneapolis.
kSt. Paul and Sault Ste Marie. as well as a
number Of less conspicuous roads showed net
increases Another favorable feature which
was not disregarded by students of the market
was the large increase of exports over the
corresponding period for last year. The list
continued strong and active to the end, though
the closing, save in fe winstances. was not
at best prices. The only unfavorable develop
ments were the higher rates for call money.
per cent. being the maximum figure, with
a fractional de line at the close. and further
drafts on local banks amounting to $500. 600
for the crop movements In the West and
Southwest. Much OF the days business was
credited to pool manipulation. but there were
nevertheless much public and speculative In,
trest of a genuine character. On the curb
Northern Securities and new stocks OF the
Roc k1sland Company sold higher than at any
previous time. Rock Island strength was at
tributed to heavy buying for the controlling
interests. Stocks of the American Bicycle
Company were weak throughout as result
of the days developments. the price of the
common stock selling off to ! y as against 315
at last Fridays close.
Railroad bonds were generally higher in sym
pathy with the stock list, particularly the con-
vertibles. Total sales (par valued, 81 o3Oooo
United States 2's and SIS advanced per cent
IN the last call