The Birmingham age-herald., 1902-09-10
STOCK MARKET
 AGAIN STRONG Many Marked Advances and Sentiment Mixed at Close MISSOURI PACIFIC LEADS Louisville and Nashville and Southern Railway Came to the Front, and
 In These Manipulation Was
 Most Manifest.
MISSOURI PACIFIC LEADS

New York, September 9.-With business we'll In excess of one m-.-lon shares and widely distributed todays stock market ruled generally firm with many marked advances and closed with sentiment rath- CT mixed Except for further good crop advices and word of an approaching im- portation of gold from Australia, there was little to account for the strength shown On the other hand the finan- cial outlook was again menacing, call loans advancing to 9 per cent. No little dissatisfaction was shown at the status of the coal strike situation. In good part the days operations were attributed to many pools. The market opened with gains in the southwestern stocks, par dcularly those in the Gould systems, and the strength of these issues, more especi- ally Missouri Pacific, which was the feature in point of activity, was accam- panied by host of rumoro none of them authoritative. The street" ascribed most of the Missouri Pac4--- s strength to the operations of a well known pool anu this belief was heightened by the character or the buying.
 Later there were large and brisk oper ations in some old favorites, such as Louisville and Nashville and Southern railway, and it was in these stocks that manipulation was most manifest. Con- current with the move in these issues was the strength of St. Louis South western and the so-called Denver class. but in these, as well as in Southern Pa eific manipulation was at times almost aagrant. Apparently more genuine was The move in Wabash issues and in Wheel Ing and Lake Erie. which advanced sym pathetically. Light interest appeared to be excited by the regular dividend an- nouncements in Western Union and Man haitian, traders taking them as foregone conclusions. The advances in Southern railway met with free selling for Lon don account, but at the opening that market bought moderately of Southern Pacific, which it also sold when that stock moved up. The markets as a whole once more found London a seller on bal ance. United States steel shares were comparatively inactive and inclined to heaviness partly as result of an ad- verse legal decision, though both issues held their own at the close
 In the last hour stocks which had pre- viously been neglected were taken up and made varied advances. In addition there was another heavy buying move ment in the Wabash issues and the south western group, with a counter move in St. Paul anl Missouri Pacific. which ap- peared to be in the nature of profit talk lng New high records were made by the last named stocks as well as by Atchison, the Wabashes, Wheeling and Lake Erie, Pacific Coast, St. Louis Southwestern preferred, Southwestern, Sloss-Sheffield preferred and General Chemical pre- ferred. Rock Island issues were a feat ure both on the exchange and one the curb. operations in the first named being stimulated by the strength of the new se- curities in the outside market. In addi- tion to the adverse conditions already mentioned, the technical position of the money market as a whole was not re- garded with favor Since Friday last the banks have lost about $4000,000 to the sub-treasury which reduces the surplus reserve as reported in last weeks bank ing statement to practically nothing Then, too, heavy pension payments will have to be met the latter part of the week. but probably too late to figure in this weeks bank statement.
 Wabash debenture bonds continued the feature of the bond market today, enor- nous purchases advancing them nearly 6 points to s9. No further light was thrown on the recent extraordinary trading in this quarter. The general market was steady and strong. Total sales, par value, s5,655,000.
 United States old As advanced 1s, the new 4s coupon A and the 3s ss per cent on the last call.