The Montgomery advertiser., 1902-09-19
WALL STREET REVIEW
MARKET MAINTAINS UNDER
 TONE OF STRENGTH.
Trading Was Extremely Apathetic, However, Outside Spotty Assortment offs tocks-Gould
 Group Conspicuous.

NEW YORK. Sept Is.-The stock market maintained it's undertone of strength today. but the trading was extremely apathetic out side of a spotty assortment of stocks whose show Of strength helped to sustain the gen eral list. The money market WAS quieter. but rates were still stiff. Loans were left undis- turbed. however and no pressure of liquidation forced. The level of prices therefore was not disturbed except as the sympathetic in fuence of the strong stocks helped to harden the market. The Goul1 group was the most conspicuous. Reports of plan were. current preferred for a Missouri Pacific bond. This was interpreted by speculation plan Mis- souri Pacific care into the movement Iaie in the day and tocH the leadership of the whole market. The return to New York CT Presi- dent Gould from a tour of inspection served to stimulate the movement. Ro"k Island made a much larger gain on a small volume of dcal- ings. The advance was based upon the de cison of the Iowa State authorities that the Rock Island reorganization plan is not in con travention of the Iowa law. There was ac- tvity and strength in the curb market m contracts for the new Rock Island securities The stocks of independent steel companies was strong as a rule because of the reports of the extraordinary pressure or orders TOT degree of activity in production which IS limited only by the available supply or ma terial The freezing weather in the North west was ignored until the break in the corn and wheat market which helped to st.ffen stocks. The comparative heaviness or some to the. persistent unfavorable reports from the cotton crop. The money outlook continued the principal topic or dlScuSSlon III llie man cial district There no radical change Tn the situation today. An additional engagement of half a million dollars Australian gold was announced to arrive several weeks hence The banks continued to lose to the sub-treas- ury notwithsta tanding the disbursement by that institution on account of October Government interest the custom collections and the de- posits for transfer to the interior serving to more than offset the interest payments How ever. the loss tu the treasury since FIT, day has reached only Sl .e59 900 compared with S4 725 GOO for the same time last week While the drain is thus reduced 1t will be seem that nothing of the needed recuperatton of tn ebanks reserves has been afforded py the treasury's measure of relief. The fact that the Bank of England refrained from ad- vanc:ng it's discount rate today was gwen favorable interpretation. But sterllng cE, change here continued to harder 10 run cent above the low level of the week carry inx exchange well away from the gold import point The prices of gold in the London mar ket were advanced and something over mil lion dollars was withdrawn from the Bank of England for shipment tn points other than New York. It is evident that the quiet money market in New York is dile Tn no small part to the constraint upon ths speculation at the Stock Exchange. The market closed dull ana steady "
 The bond market was dull and about steady; Total sales (par value) S2, 29O OOO united States refunding 2s advanced <, the 3s n and the old As k per cen: The new As de- clined L per cent. tho last call
 New York stoca List.