The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1902-09-05
WALL STREET REVIEW
A DISTINCTLY IRREGULAR TONE
DEVELOPED.
This Partly Due to FURRY in Call
Money, Which Loaned as
High as 8 Per Cent at
q, One Time.

NEW YORK, Sept 4.-Partly as result Of
the furry In call money. which loaned as hfFn
az per cent ana Tor 1 So pSteh' dssnetls
irregular tone. Before the close OF the morn
ming session more or less weakness was shown
ing. Pennsylvania, New York Central. Union
Pacific and Southern Railway These ana
other less prominent stocks fell to a level gen
orally lower than yesterdays closing prices.
Much Of the selling was Of character tech
nicaliy known as good and in conseiva-
ys 9, the ss bas been too
Trading in the forenoon was again very heavy:
but the day as a whole was less active and
faee Of sss.s adverse Conditions high
ords were made In Baltimore and Ohio. Penn
sylania. Wabash common and preferred; Wheel,
Railroad Of Mexico, Pittsurg. G. c. and St:
Louis. Cast Iron Pipe and foundry issues and
sloss- Sheffield Steel common and pr.f"-red
The feature of the opening was the strength
and sctivity of United States Steel common
Purchases of the stock were on large scale
and resulted in substantial advance. but the
move in Steel common presumably was pared
on its strength in London from which center
good buying was reported for American IN
terests. Locally London traded in about -. GOO
shares, chiefly steel common, but SOLD on pat
ance. The early decline In Pennsylania WAS .ss
stocks Of most OF the Southwestern roads;
There vas no news concerning Reading ana
the common stock. on dealings much below
those Of the previous two days closed with q
decline of 2h points. Opinions differ as to
the ultimate fate of that property, but the
knowing ones declare that Its future rests with
Pennsylvania interests who, IL Is expected. Will
turn II over to the Baltimore and Ohio line.
Shares Of the latter road were active and strong
at the outset, but closed with net loss A
smart advance in Wabash was attributed 70
manipulation by q leading operator. The early
afternoon saw sharp gains in Peoples Gas.
Manhattan yfrginia-Carolina Chemical Com
pany Cotton OIL and some of the more OBJ
sciire issues. The advance in gas was accept
ed as drive against the short interest IN
that stock Selling orders In the last hour
caused recessions throughout the gener- list
and the closing. while active. was weak. In
the standard railway group marked weakness
was shown by Norfolk and Western, Louisville
and Nashville Illinois Central and Union Pa
cifc In addition to those already named VI
the miscellaneous stocks the weakest was
American Bicycle preferred. which declined Q
POINTS On the curb Northern Securities more
than maintained its strength OF the early
week opening at Il71a. but reactins toward
the close Call money opened 81 81 per cent
and only q comparat.eiy small amount was
placed ut the top figure. the bulk OF the Loans Loans
being made at from to per cent Tnere
was little disposition to lend money on time IN
view Of the rates for demand loans foTeigp
exchange continued easy with no sign OF an
early reversal The SUN Of SIo.Ooo was
transferred to New Orleans for local hanks and
this with other operations shows gain oy
the sub-treesury of over 100000 since last
Friday. .,. 81
United States old and new IS registered al
yanced q per cent. on the last call.
81 Nar voyk stoc,t list