The Montgomery advertiser., 1903-03-21
WALL STREET REVIEW
THE GENERAL IMPROVEMENT
 SHOWN IN THE MARKET.
Absence of Selling Pressure at the Opening Caused the Professional Eleent to Cover, Result
 ing in Gains.

NEW YORK. March 2o-General improve ment was shown by the stock market today. The absence of selling pressure at the opening caused the professional element to cover in a number of the active issues with the result that numerous material gains were registered. southern Pacific was one of the few excep- ttons, showing more less weakness through out the day The bulk of the days business was done during the morning session, though In the last hour the market resumed Its early activity and closing prices were In many in- stances the best of the day. The better feel ing was more pronounced in the afternon be- cause Of the greater ease in the time money rate, some loans being at 5 per cent. It is the general opinion, barring untoward events, that the situation should from now on i'm prove. The early gains took in Canadian Pa cific, Louisville and Nashville, St Paul, sev- eral specialties, including Minneapolis and St. Louis, which advanced 4 points and the steel stocks. Later there were improved prices for Baltimore and Ohio the Erie, New York Cen tral, St. Louis and San Francisco issues and Rock Island. The advancn in the last two named was accompanied by reports that an early announcementof the much-discussed deal would be made. In the industrial group prices reached higher level in the Tennessee Coal Colorado Fuel, Consolidated Gas. General Flee tric and National Lead Sugar shares were weak throughout and Amagamated Copper was barely steady though making a fractional net erations of a specialist who offered the stock down in hundred-share lots. A feature of the early afternoon was the sudden demand for Metropolitan. which was said to come from the large short interest. On fairly large trans actions the stock made net gain of 4 points, closing at the top. Missouri Pacific developed some strength by reason of its statement of earnings, which was one of the most gratfy- ing features of the day. The hard coal stocks were fairly strong, though not in active de- mand, and St. Paul advanced what was reported to be inside buying. Hard coal stocks were fairly strong. though not in active de- mand, and St. Paul advanced on what was re- ported to be inside buying. London traded in about I2,ooo shares here buying slightly on balance. The days business was comparatively small and commission houses continued to re- port absence of public interest. Much of the buying came from the various pools and cliQues that were prominent the short side up to a few days ago. There no change in the foreign exchange situation. Demand sterling rose trihe in the morning. but eased off to 4S7. 65 toward the close. Very little business reported. Money. both for time and demand loans was offered In abundance, but the demand was again only moderate. Forecasts of the weeks money movements in- dicated a comparatively slight loss by the banks. The increasing strength of the market during the day led to a more general inquiry for numerous minor stocks which had not cluded Chicago Terminal issues. Colorado and Southern issues. Wheeling and Lake Erie, Evansville and Terre Haute and several other obscure properties. Northern American made jump of points, but did not maintain the full advance and several other high grade stocks which have been recently liquidated. i'm proved.
 The bond market maintained a firm tone throughout the day. but somewhat less ac- tive than yesterday Total sales (par value), Si.7l 900. United States new As and 5's advanced A on the last call.
 New York Stock List.