The Montgomery advertiser., 1902-09-16
II. z B. BEER, Bolton merehan Is,
 nEW ORLEANS.
 MDMnERs or; Msw Orleans Cotton Ez. 94A9A New Yerk Cottsu Exchange. and As Aee Me2bers Iivsrpsel Cotton Associaten tz 99e4 esten0ea g1ysa es the sxeeutssn q 14o0 Ner future eelivsry h sottco
WALL STREET REVIEW
MARKETS VERY SENSITIVE TO
 THE HONEY SITUATION.
Opening Rate of 15 Per Cent Caused
 spilling of Stocks All Over the Room-Suggestions of Gold Imports.

NEW FORK, Sept. I5.--Today's stock mar satuasion and the price movement throughout .nents in. the money market. The firm open to tho hopes that the measures of relief an nounced by the Secretary of the Treasury would result in forcing down the rate of call ioans The opening rate of IS per cent. countsracted this influence and induced a gen sefnl spillfng over of stocks all around the orsd ss psr csnt were mostly % 'f for 1nes ae c9unts Tor out-of-town institutions. Several milions reported shipped from Chicago on 4unds Meantime the local hanks hold 1gI for 20 per cent. rate which some of town supply had been absorbed. When tn. demand for loans had been satisfied, some of stiii on hand, which they offered in % the p' mar Ret and helped to break the rate to per Nrnt- The maturity of . SIS, ooo. 900 on sub Bfeatly aggravated the situation and necessi- taked considerable calling and shifting of ~ss pa sns wsps sss leaned at the Stock Exchange and the pre- suHption is thus warranted that the same into the market late in the day The small
 s ss. ss.kne. TSs .s sharp ins daen. in ntng1tug exchange encouraged the hope that hns Of sss fO. T, .s srs tag within small fraction of the point at which Gold imports are reckoned profitable. 1sstsd rates for stering sixty-d bills were twice reduced. bringing the price down a full cent in the pound while for demand sterling the posted rate was marked down hc. The lcndon money rate was not affected but the stock marret there was disturbed by fear that the Bank of England would advance its minimum discount rate this week in order to help divert New York's demand for gold upon Paris. which is generally believed to be The sfcck market closed v withou, u @ any % actual engagement being announced. The low prices of the day in the stock market followed closely upon 0per cent. rates for money and the late easing in the money rate resulted in a losses in a number of important stocks. but still left fractional net losses in the majority ef eases. No one Is heard to express any ap prehensicn that there Is danger of money crisis in commercial or industrial affairs. but the outlook for speculative borrowers for the pEp1se of holding securities on margin is be- 1isvea to be somewhat clouded. The point is made that the recent depletion of New York treasury requirements, due to heavy customs payments and not account of interior de- mard for money. This would indicate that the htaviest demand from the interior is yet to stress for funds centers very largely about the Stock Exchange and is local to New York. The plan of relief of the Treasury Department will be widely scattered in respect to the in perience has shown that offers to pay Gov ernment interests in advance are not largely avaiied of, even in periods of actual strfn- gency. The general opinion this evening was market lay in the prospects of gold imports. An upward movement in sugar was slightly eustaining influence in todays weak market. Bonds moved narrowly in sympathy With
 Governments were all unchanged on the last call