The Montgomery advertiser., 1903-08-15
WALL STREET REVIEW
ANOTHER UPRUsH OF PRICES
 OCCURS.
So Violent Did the Movement Be. come That Suspicion Was Aroused and e Watch
 Kept for Profits.

NEW YORK, Aug. I4.-There was another uprush of prices today in further recovery from tne depression of last week So violent did the movement become that 1t was regarded with some suspicion and professional trad CTS became verys watchful for symptoms of re- action in order to seize ripening opportunity Tor q shift tc the short side for a turn. The market showed abundant evidence of leader snip and skillful management and was held by transferring bull operations from one stock or group of stocks to another. taking profits in the one as buying was shifted to another. News seemed to have nothing to do with the advance beyond the fact that the market had turned: That Is to say. the conviction was general that necessary liquidation had been completed for the present and prices conse- quentiy left free to seek the level of true value. Little was heard of yesterdays nu- merous stories regarding Reading. which ranged over i wide field of credulity and that stock was steadily under pressure to take profits all day with the sustaining strength at other points In the list It was not at any time more than fraction over last night and for the greater part of the day was below. The early strength in the market was most conspicuous in the Western grain-carrying rail- roads and the principal buying shifted after wards to the eastern part of the map, led by New York Central and followed by the other trunk line stocks. London was reported an eager buyer of New York Central. but no other news was forthcoming to explain the strength in the stock. London was a seller on the bal ance of the list in the days market. the ad- vance there failing to keep pace with the nov incnt Hcfc anu so OueTiuk III pfout in selling in this market all day. The foreign exchange market was somewhat affected and hardened on demand for remittance by to- morrows steamer. There was great interest in the question. whether foreigners would resell Americans largely on the advance in prices here. The United States Steel stocks Jagged in the upward movement of the day and were somewhat affected by the reports of extensive shutting down of mills in Western Pennsyl- yania and Eastern Ohio Amalgamated Cop per was helped by . rise in the price of the metal here. Tn London there was rise in copper futures with q slight recession in the price of spot. feature of the days news was the report of sales of cash wheat at Min neapoiis for dollar e bushei. Preliminary es- inmates of the weeks currency movement pointed to a cash gain by the banks this week of nearly S3ooo, 900. Curiosity regarding the bank statement centers in the loan item The active buying of stocks during the week has undoubtedly involved some heavy borrowing But the entire lack of response in the loan item of the banks to the long liquidation makes the question of the effect of the re- newed buying of stocks on loans doubtful one The violent upward movement of bh points to 50 In Amalgamated Copper on deal ings in nearly 1000 shares. sustained the later market, which had shown signs of hesi- tation As 1t was. last prices were often strong and active. The days gains range from r to { points and the leading Pacihcs. Grangers trunk lines and speciaities were strong.
 There were few heavy spots In the bond market, but the tone was generally strong. Total sales Cpar value). S3.66o. ooo United States bonds were unchanged on call.
 New York Stock List.