The Montgomery advertiser., 1902-08-27
WALL STREET REVIEW
DEALINGS WELL OVER A MIL.
 LION SHARES.
Market Showed Great Animation at Different Times During the Dy nd Gve Expression
 of Strength.

NEW YORK Aug 2e-The volume of deal ings In stocks rose well over a million shares today. The market showed great animation ht impression of strength, owing to tHt enormous buying on an upward range of tew stocks. but the speculative profit taking under cover of this strength persistent tnd wide. spread. The market became so honeycomoea by the closing out of holdinss hy powerial speculative interests that 1t showed decidedly crumblins tendency in the closing h9ur; Prices fell back rather violently to below last night and n only one or two hsra 1sansss s. was , reason accompany the relapse any more than there was to account for tho previous notable advances. There was no more sillci- tude over the money market today than has been expressed by wa ming cautions for sonie highly probable. nevertheless, that the large operators In stocks are alive to the possibiii- making their success full turn before actual strinsency sets in. As a matter Of fact, there to the interior through the sub-treasury and loan bills quite freely negotiated In the foreign exchange market But discussion E already heard of next Saturdays bank state ment and ways and means for relief of the rnon,y market by the intervention of United sseS vsssed without without throwing clear fight of. the course 'o be pursued Ti.e Secretary or the Treasury rescinded the standing orher or ms ms predecessor for the purchase of Oovefntnens bonds In the market at a fixed price and he is represented to have. determined not to re
  ment funds to the market Increase or G,v- ernment deposits with the banks would re- auire increased holding cf Government to1ds as security and the recent persistent advance h Government bond purchases Is sul'posod 70 reflect prepal ations by bankers to this end. but the scanty floating supply Of Government bonds makes such demand quickly effective in lift ng prices to a point which will wipe out the profit both on banking eireuistion r and was nethag in the ruling rate of n'oney aicsee ,o l leadership of the market in point of strength 1 was assumed by Atchison. the argument DC,
 ing tha. the mgaer prse an sSragce in that | stock. Meantime the higher pr ces for other stocks were inviting the enormous speculative Dealings continued very large in the Union | Pacf fc, Baltimore and Ohio and the Southern stocks, but they sil yielied sharply to the now doing in other parts Of the market than | yesterday. but tho congestion in the leaders ] of the lst in which the dealings wee quite | inssn!ncan espe, iallv the industriais' when | for the jrrezulation expres. e1 by the Pies- | dent Tho market closed heavy, al.h2ush some | recovery f, om the lowest | The pl incfpal activity in the bond mal ket l was In the Union Pac hc conrertioles. whicn l moved in sympathy with the stock as dia 'ue Sa'ue,. S4. sso. GOO. United states old Es ad 1 vanced ,a and the 2's, Ss and 5's E per cert. | on the last call
 Money and Exchange.
 | NEW YORK. Aus 2S.-Money on call steady
 st aa3S per cent; closing 'fTesei al per | cent. -. - . l Prime mercantile paper. 4Aa5ia per cen. | Sterling exchange heavy with actual ousi- | mss in bankers bills at A.S7 for demand and l 4S4l5 for 50 days: posted rates, 4SS1aa
 49e
 | Bar siler 52ss: Mexican dollars. 4lE. | Government bonds. strong; State oonds' | steady; railroad bonds. steady.
 !Naxu vo,k Stnr'i I ist