The Montgomery advertiser., 1902-01-16
WALL STREET REVIEW MARKET ENJOYS SOMETHING OF A RALLY. +5
  Tendency Was Shown, However, to Fall Into Intense Dullness-De- mand from Shorts Factor
 in the Rest.

NEW YORK. Jan. l5.-The stock market turned from its recent consistent downward The demand on a fairly large scale, but the market showed a tendency to fall into tone on nss tbe advance ne peu There were number of reactions during the day. but the closing was near the top level. but dulness and wavering still very manifest. The demand from the short interest was a palpable influ- ence in the rise. Evidences of support were seen early in the day in some of the stocks
 which were chief targets for bear attack
 notably in Union Pacific and other trans con
 tinentals. This served to intimidate the bears.
 vances. The fact was manifest, however, that
 the more urgent selling had been disps SC l
 bears induced little iiquidation. A number of
 incidents aided the bulls in turning the mar
 ket against thsir opponents. There was a
 striking demonstration in Sugar on tho
 strength of the hearing accorded by the Ways
 and Means Committee at Washington to the
 advocates of & reduction of duties on Cuban
 sugars. The increase in the dividend rate
 from 2 to per cent. on New York. Chicago
 and St. Louis second preferred relieved some although the distribution was not large as some spectators have claimed to expect. New day and had risen to the highest point before the announcement of tomorrow's stock issue and the subscription rights to stockhode. s. The price was inclined to sag after the an- nouncement. new bond and capital issues have been in dsfavor with spectators recent ly. The price of the stock has indicated for some time past that rights of some sort were accruing. the directors statement now indi- cates the fact. The statement of the countrys foreign trade for December was re- garded as favorable. The heavy, decline in ex!
 ports of, breadstuffs, principally of corn. rrob- ably was expected. The decline in this item accounts for practically the whole Of the decrease in the total exports for the month. which was about S9. 300. 900. compared with | the previous December. This shows that the declining tendencies in the exports of manu- | factured products has been arrested, as was | first indicated last month. The increase in the | imports for the month has resulted in a fall ing of of trade balance in favor altogether | of over S2o, 900 900 compared with the pre- vious December, but the increase in imports | is not regarded an unfayorable factor al present. as 1t is made up in part of crude ar | ticles for use in manufactures and of products l for which domestic manufactures are not able to i'll all the orders they receive. The large gain by the banks from the sub-treasury and the return of flow of currency from the in terior give assurance of a favorable bank re- turn on Saturday and the heaviness of sterling exchange indicates that no gold will go out this week. There also a subslency today of recent vague rumors of financial troubles in the commercial world. The sharp dror in Peo- Iles Gas due to the refusal of a court to grant an injunction against the Chicago
 city ordinance reducing the rate for gas to
 75 cents per 1000 It's influence the gen
 eral market was only slight.
 The active bonds generally moved in sym
 patky with stocks. Total sales (par vaue). S3,
 POS 900. United States refunding 2s de-
 clined t and the 3's coupon advanced A per
 an Ia st