The Montgomery advertiser., 1904-09-29
WALL STREET. REVIEW
PRICES WERE OPENED UP ALL
 AROUND.
New Points of Strength Were Pushed For ward to Sustain the Market and Held Fairly Throughout
 the Entire Day.

NEW YORK. Sept. 2S--Prices of stock were opened up this morning all around but that was about the only consistent movement throughout the day. Heavy prof 1t taking promptly made itself felt and carried the market back to about las, nights level Then new points of strength
 were pushed forard to sustain the marke, and these persisted fairly well during tho remainder of the session. But meanwhile the movement to take profits was followed up with these sustaining prices at work
 The result was constantly irregular movement. United States Steel preferred was the feature of the market in continu. ation of yesterdays strength. This was oi strong sympathetic effect the general list and was supplemented by the aggressive strength developed by Reading. The buy. Ing of these two stocks was said to be trace able to Philadelphia and this was supposed to represent good information on the Steel and coal trades. No news of the steel trade found its way to the public in explanation Of the strength. Of the coal trade 1t was argued that the supplies of anthracite in consumers hands were not large, although the demand is shown to have been very large during the spring months before the progressive advance in prices began. The rise in Ontario and Western on the decision to pay per cent. dividend on the au- thorisation of a $12.00O. 900 bond issue was the only response amongst the rest of the coalers to the movement in Reading Penn sylvania was heavy and out of sympathy with the steels and Reading, contrary to customs Northern Securities made an ot"oi Juhp III tne curD market and rumorS continued largely prevalent of a compro- mise between the Union Pacific and Great Northern interests in that corporation. But Union Pacific and Great Northern gave signs Of weakness and the same was true or Atchison. which was forced nearly Il point below last night in the late trading. The monetary strength of Amalgamated copper was connected with the large Euro pean consumption of its product The rae In the Louisville and Nashville group did not extend far amongst the cotton carriers. aHnough there were, some heavy dealings m southern Railway. That stock finally rose point. Cotton oil made A further up under pressure of disappointment over the intimation of a passing of the dividend ana then rallied. Money continued to work somewhat easier and the demand was very dall loan expansion for the week in view Of the greater speculative activity at the Stock Exchange did not prove sur prise. however. As the movement towards the interior continued heavy another con siderable inroad on surplus reserves is be- slhnihs to De counted on. London bought stocks here again today and the export movement of cotton was said to be very IaIse. sterling exchange yielded a few points. Reports of arrangements for a new Russian loan and of loans for the German Empire and Prussia were current A fea- ture Of the day was the rise In a number or minor industrial specialties without ex- pianation. On the circulation of Tho Iron Ages proof sheets late in the day, United states Steel preferred rose to 72h and helped to rally the market, but the clos ing was irregular.
 Bonds were firm Total sales fnar value, s4,27o.ooo. United States bonds were un. changed on call
 NEW YORK STOCK LIST.