The Montgomery advertiser., 1902-02-27
WALL STREET REVIEW
THE MARKET A REPETITION OF
THE LAST FEW DAYS.
Important Railway and Industrial
Stocks Allowed to Slumber
and Others Pushed
to the Front.

p NEW YORK, Feb. 26.-The proceedings in
today's stock market practically repe-
tition of those OF the last few days. Ina'
is to say. the important railway and indus-
trial stocks ,of the largest capitalization. winch
Usually take the lead in the market movement
were allowed to slumber while VARIOUS t.,s on no
one after another and pushed upward IN more
or less sensational movements. This order OF
things was varied in the last hour by sharp
raid the part OF the professional cears
The ostensible reason for their selling ana OF
fering down prices was the announcement VI
gold engagements for shipment tomorrow, 81,
A5O. 600 The persistent dullness OF the whoie
market and its refusal to advance under the
efforts to stimulate by marking up indiyidaai
vulnerable position and the announcement OF
the gold exports was rather signal tnan q
motive for the attack. Reports Of damage TO
the Winter wheat crop and the resulting stiff
fleming in the Winter wheat market was used
to advantage by the bears IN aner r ssnseiniiy
vulnerable and its report OF q decrease OF
S79, 900 in gross earnings for the third week
in February also added to Its weakness II
was noticeable however, that roads which
reported increases for the same period ana
especially Atchison with its January increase
of S22OS7S net were not able to resist the
decline. No other stock was SO acutely AFFECT
ed, however. Missouri Pacific. The an
prise as sterling exchange has lowered about
the export point all the week. Foreigners
have been heavy sellers OF stocks since the
news of the Governments procedure against
the Northern Securities Company and the
supply of commercial exchange bills in the
market is very scanty. The money market
has not shown the slightest rejection OF any
coming stringency, yet the sub-treasury OPP
erations have already token up nearly mil
lion dollars since the last bank statement
and with New York exchange at Chicago down
to is cents discount. the movement of cur
rency is probably away from New York. An
early response in the local money market Is
highly probable. The advance in today's mar
ket was almost universally without explana-
ton. and in the case of the minor railroads
they were based on a general assumption that
absorption of these by the larger systems Is
manifest destiny. In the more prominent
stocks there was strength In Pennsylvania,
the Fries, wabash preferred and Illinois Cen
trail Amalgamated Copper was active and If
regular. Other stocks notably affected were
Colorado Southern. Denver and Rio Grande
stocks Toledo st. Louis and Western. the
Wisconsin Central, Chicago and Eastern iii
nois. the Evansville and Teire Haute, chi.
cago Great Western preferred, St Joe ana
Grand Islands. Ann Arbor preferred. Dea-
ware South Shore and Atlantic preferred the
Minneapolis st. Paul and Sault Ste Marie
stocks Kansas City Southern preferred. Fort
Worth and Denver City, the Detroit Southern
stocks Peoria and Eastern Kingston AMI
Pembroke, the American Bicycle stocks, North
American and United States Reduction stocks
Some of these suffered acutely from realizing
There was very large buying OF WABASH
debenture BIS and the general bond market
was firm. Total sales tpar valued. So. BOO, Ooo
United States bonds we're all unchanged on
49, Ia ~