The Montgomery advertiser., 1903-02-05
WALL STREET REVIEW
EVIDENCES OF CONSIDERABLE
 STRENGTH IN MARKET
The Operations Seem to Be Still Con fined to Professional Hands, but the Leadership is More
 Aggressive.

NEW YORK Feb. 4-Yesterday's level of activity in stocks was pretty well maintained strength in the market The operations seemed to be confined still to professional hands. but the leadership was more aggressive and better organized than for some time past and there was evidence of the control of large resources by those operations. It was the theory of the board room operators that the action of the market was largely due to the furtherinr of | number of well known stock operations at e southern resort abundantly supplied with spe- Is the operator whose name has been 'associ- ated with the principal stock market sensa- tions for many months past. Whatever the source of the buying, the movement was spotty and irregular and the eaflier movements were not well maintained. Tho operations in dsy aps Tere scs on sroWins scale during the market in the late dealings with . rise of over z points above last night. There was no news earnings known to be accommodating in the treastries of all of the coai-carrying rail- roads Announcement was made today of sev- eral postponed steamship sailings on account Of delay in securing coal. This was accepted aS frustrating the universal pressure for this product Whatever the advantage of such . condition to the coakcarrying railroads. 1t was not. considered favorable to the industrial situation lat large. SeIn-officiaI confirmation was given to the assertion that the Union Pa cific and the Rock Island had been brought to- gether in some sort of an agreement nsurfng mutual advantage by interchange of business. Nothing definite could be learned of the scope Of the agreement. but the report was accepted with satisfaction as a substantial step in a community of interest which might avoid fu- ture damaging competition. The publication of this report was probably tho. cause of the revived rumors that the proposed merger of the Gould railroad properties was almost ready for announcement. The stocks of the various companies affected by these rumors were not amongst the speculative leaders of the day There was an opening spurt in Rock Island but the stock fell back almost immediately and was not more than steady for the rest of the day: Union Pacific was firm. but not active and Southern Pacific Q point In the late dealings. The rise in St. Paul was supposed to be traceable to the same sources as that in Reading. The strength In Erie com- mon was only moderate, but the preferred stocks. especially the second preferred. made better advances. Amalgamated Copper con- tinued to advance on account of the better sem timent in the copper trade Yesterdays sud- den movement in United States Steel stocks was not followed. up today and those stocks were inclined to drag. This fact and the fall of the Rock Island stocks to retain their opening gains threw the market into . con- dition of hesitation and uncertainty. but the rise in Reading and gains by a miscellaneous assortment of minor stocks had . somewhat reassuring effect. Money continued easy and exchange firm without affecting the stock mar ket. The closing was quiet and steady.
 Bonds steady. Total sales (par value), s. 475, GOO United States 2's declined per cent. on the last call.
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