The Montgomery advertiser., 1902-03-18
WALL STREET REVIEW
THE SPECULATIVE SENTIMENT
 WAS ENCOURAGED.
No Absolute Improvement in tn, Money outlook-The Profess sional Contingent in
 Evidence.

NEW YORK. March I7.-Th, general specu- lhuve sentiment in Wall Street was great the money outlook as disclosed by the Satur- day bank statement. There was no absolute improvement in the condition of the banks disclosed by that document. but there had been more or less dread last week that the surplus reserve would be entirely wiped out by the many drains upon the cash reserves The large loan contractfons effected was an offset to this drain and the absence of dis turbance in the market while this being done dissipated good deal uf the anxiety felt over the money outlook. It was this consid- eration that prompted the professional trades to bid up the opening prices for stocks It developed however. during the course Of the day that the professional contingent sti make up the market to large extent and very little following was attracted by tho at Nancing tendency of the market. The princi- pal operations also were inclined to revert to the industrials and specialties This was partly due to the fact that no relaxation was aparent in the interest rates. Call loans ruled at per cent. and over. This was rather tha, the showing of tho banks on Saturday was due to shifting of loans to Other in. s,'tntions s, rather than to their cancellation contraction was accounted for by the decrea sed loans of less than half dozen of the large New York banks. Among the Gould stocks and the Southwesterns generally there was some agreement in a show of strength. A hopeful feeling in regard to the Winter wheat crop, for the second week in March and the preya- lent gossip over the acquisition of the Western mdrsianu haHfOad all conduced to this strength. There was some profit takiug in Manhattan, but it continued to show strength on large dealings in common with the other. local fractions. Baltimore and Chi, and it's related soft soal carriers showed strength Outside of this the advances in the railroad list seemed to be of special character as were those by the industrials. Sugar showed increasing strength during the day and rose late 2k over Saturday. Other striking gains were in the local gas companies. the elec- trfcal companies, Continental Tobacco pre- ferred, Minneapolis, St. Paul and Sault Ste Marie preferred and Rutland preferred On the other hand. there a number of sharp relapses from recent high prices amongst ob- scure railroad and industrial stocks. The liqui- dation in Amalgamated Copper continued very heavy. that stock leading the list in point of activity. Doubt over the maintenance of divi- dends caused the selling and little support was accorded 1t. At an extreme decline of SIS the stock touched 6I1s only about a point above the lowest recorded price, The last price was . fraction higher. The last prices were gen. eraly below the best owing to a movement to take profits in the final hour. but the clos ing was steady
 Wabash debenture Bs were active ani strong, but the bond market was rather ausf and irregular Total sales tpar value). S3.- 33o, 900. United States bonds were all un- changed on the last call.