The Montgomery advertiser., 1902-12-05
WALL STREET REVIEW
ANOTHER ATTEMPT TO PUT UP
 PRICES.
It Did Not Succeed and the Market Soon Became Weak-Nnal Prices Show a Fall
 ing Off

NEW YORK. Dec. 4.-There was another attempt to put up the prices of stocks this ket soon became weak. Final prices were con siderably lower than last night The prin- cipal part of the days business on the Stock Exchange had been completed by the end oi the first hour and there was no further ac' tivity until an active selling movement de- veloped in the last hour and carried prices to the lowest of the day. In the interval there were periods of absolute likeness on the floor of the Exchange. Many of the most promi' nent stocks were not quoted at all from hour to hour The aggregate transactions for the day dwindled still further from yesterday small total The business was almost entirely In the hands of professional room traders and many of the more conspicuous commission houses had not as much as thousand shares to execute in the market. The effort to ad- vance prices was apparently based the somewhat easier tone which developed late yesterday in the call loan market, but the de- velopments. of the day precluded any hope Of early ease in money and prompted the trad CTS to change their positions They then sold stocks to force lower level Of prices Tor m the the vance prices without meeting large sales to realize.
 The sub-t treasury statement for today shows that the banks have lost to that institution since last Friday S5. 900 900. This did not include the s 900, 900 withdrawn today for shipment to South America. This morning the sub-treasury was creditor at the clear ing house for s4l6,esI on account of some seen therefore that the weeks decline in bank reserves probably will be between six and seven million dollars. The tone of the time money market which continues very firm is convincing evidence that relaxation of the money market is expected before the turn of the year. As the local trust companies do not make weekly reports of their condition that element in the situation is not known to the public. but there is evidence that they are offering any of their resources in the money market at the present time and the tendency is believed to be rather on the side of con- traction in their case The Bank of England retained its 4 per cent. minimum discount rate this week and the private rate went lower in the London market, but the banks weekly statement discloses that the Government has disbursed over So. 900 900 of its deposits ments accounts for the present easier tendency in London. However the bank has lost gold to the extent of about S3 675. 900 during the week. Notwithstanding today's shipment of which in response to demand diverted from London, the Bank of England sold today a million dollars in gold for South America and $500, 900 to Egypt. The Bank of France also shows a loss of about half million dol lars in gold but it's loans have been con tracted about S35. .ooo, 900. although the note issues have increased over s 10 900 900. There was transfer of currency to the inter for through the Sub-treasury today and exchange at Chicago rose from par to 10 cents premium. The advance in the price of refined sugar and in the price of copper both here and in Lon don made Sugar and Amalgamated Copper comparatively firm. Fort Worth and Denver City stamped sharply the prospect of increased dividend disbursement in Febru- ary. Reports from trade authorities of a down ward tendency in the price of iron products and holding back of orders on account of high cost was a rather depressing influence.
 Bonds were dull and easier in sympathy with stocks Total sales (par value), Sl 860 900. United States 3s. registered declined 14 per cent on the last call