The Montgomery advertiser., 1903-12-04
WALL STREET. REVIEW
STOCK MARKET SHOWS GREAT
 ANIMATION.
consideraDie Strength Developed With Obvious Distress on the Part of the Short Interest. Million Shares Change
 Hands.

Nrsw YORK. Dec. 3-The stock market broks into great anilpation today and devel- oped considerable strength with obvious dis tress on the part of the short interest. The volume of dealings rose to the neilghborhood of a million shares. The activity was progress sive, the early part of the day being given over to intermittent buying movements with the intervals of extreme duliness. The strength of the first part of the day was also confined to few special stocks and was interrupted by occasional selling movements to take profits even in those. There was considerable num- Der of stocks of the first prominence which did not come into the upward movement at all. Nearly all of the Western stocks were lag gards until late in the day and the cotton rying roads had no share in the days activity and strength. Even the movement in Pennsyl- vania which became of decisive influence. was late in developing and that stock was one of the many which was below last night in the early reaction. The few industriais which spurted upwards in a sensational manner in the closing dealings yesterday were inclined to reaction--on profit taking. Colorado Fuel lost two full points, the report of in- tended bond issue, which was offered to ex- plain yesterdays rise, did not seem to prom ise we'll for the common stock. Sugar lost point on profit taking and Amalgamated Cop per was fraction below last night at one time. The extensive advertising of predictions of an advance in Amalgamated Copper aroused some suspicion towards it. but the stock came into the late upward movement. Canadian Pa cific suffered from the report of a new issue of capital. Notwithstanding these drawbacks, the uyward movement of prices gathered mo- mentum and volume the day proceeded and was effective in alarming more important short interest than ha syet been reached since the turn from the extreme depression of the market. The causes of the advance were rather obscure. but vague assertions were freely circulated of large and determined absorp- tion of stocks by the various groups of great capitalists and banks which make up the dom
 nant powers of the financial world The long standing rumor of an adjustment of the dis put between the Gould and Pennsylvania in terests fed eagerly on the report that counsel for the Western Union and the Pennsylvania had formed an agreement that ndNmore Western Union poles should be cut pending Judicial decision of the case in controversy. The coal CTS seemed benefited by the weather, but ported interruption of traffic from the same cause was ignored The New York fractions were fin fact conspicuous in the advance. Brooklyn Transit being one of the leaders of the movement. Rumors of recent taking of this stock looking to a consolidation with trac- tion interests on the island of Manhattan were supposed to account for its strength in more general way. There was undoubtedly i'm provement in sentiment over the general finan- cial and industrial outlook. Opinions were heard that the worst of the reaction in iron and steel had been seen. with good hopes of improvement. Call money loaned again as high as 71a per cent and the movement of currency to New Orleans continues But additional en- agreements of gold in London, both for Boston and New York account offered the assurance that actual necessities be provided for The decrease in value of imports at New York for November of upwards of 7,oo0 GOO is an index of the favorable tendency of our foreign trade in It's bearing the money situation The Governments estimate cotton in the reduced amount of the crop indicated is scarce ly capable of so favorable an interpretation. but the prevailing mood of the Stock Ex- change was bullish and all contrary influences were Ignored.
 Bonds were irregular. Total sales (par value). S4.so6. 900. United States bonds un- changed on the last call.
 New York Stock List.