The Montgomery advertiser., 1902-12-23
WALL STREET REVIEW
GOOD VOLUME OF BUSINESS IN
 STOCKS.
Strength and Breadth Shown by the Narket-High Level of Prices Pretty We'll Held Through
 out the Day. ,..

NEW YORK. Dec. 22-There was a good volume of business in stocks today and the market showed strength and breadth. The large dealings and the notable strength in a few prominent securities had a sympathetic effect upon the whole market The trading showed diminished animation the day pro- gressed. but the high level of prices attained was pretty well held. although the closing was ment in sugar The stocks which led the mar ket had individual grounds for strength. most ly in the shape of rumors of a probable in crease in dividends or of other benefits. This was the case in Missouri Pacific, New York Central ana in the outside market, Northern curities was to the effect that there is to be some extraordinary distribution among Great Northern stockholders. of which the Northern Securities Company is the principal one No official sanction was given to any Of these rumors nor was there any confirmation rights that the valuable reports to be given to St. Paul stockholders in connection with the proposed new stock issue. Sugars strength was attributed to a further drive against the shorts in connection with the prospects for the Cuban reciprocity treaty Canadian Pa cifc and its allied stocks were strong fea- stsa n0s spscis sss anorta ass tss Copper litigation in Montana had been passed indefinitely by common consent of both con- traders the Stock Exchange were somewhat skeptical of the advance and contested it by short sales. There was evidence of activity on the part of the recently quiescent pools and large professional operators were supposed to be at work to lift the level of prices
 
 although somewhat sluggish as usual Satis- faction was professed the status of the Venezuelan question and confidence seemed to be felt in the money situation. Concessions in rates for time loans helped this confidence materially The per cent rate was shaded for any longer time than sixty days The con- tinued downward course of sterling exchange gives rise to a suppositio nof some special de- velopment in that field not yet disclosed. There arc vague rumors of blocks of railroad bonds placed abroad, although reports of large rail- road interests reports that the American mar fr~N Lave eHa beet anlA F,- hAnA The suggestion comes from Berlin that foreign CTS pool in guaranteeing the $50. o0o. 900 fund for the money market to the extent of at least agreeing to refrain from further contraction currency to New Orleans (S55o. .ooo) today fol- lowing large shipments on Friday and Satur- day is supposed to be for the purpose of hold ing cotton in that market in anticipation of higher prices fin January. The movement seems to cause no misgiving, although 1t seems likely to cut down the export movement of cotton and thus effect the foreign exchange. fea- ture of the day was trading in international mercantile marine common stock in the out side market at from l 6 to 2I. This Is the first shipping company's common stock.
 Total sales (par value) S4o2o 900. United States bonds were all unchanged on the last call.
 New York Stock List