The Montgomery advertiser., 1904-11-18
WALL STREET. REVIEW
THE UPS OUTRUN THE DOWNS or
Late Tone of Market Becomes Progressively Strong and the Movement Broadens Out In Comparison With the
 Morning Depression.

NEW YORK. Nov, tJ.--stocks had their downs today. but the ups so far outran the
 eisiveiy on the side of gains. The later tone of the market became aggressively |strong and the market broadened out ma-
 teriaily compared with the dulness to morning depression.
 The weakness was rather acute at the
 opening and forced prices lower even than
 the equivalent of the ruling prices in Lon
 don. although the disturbed conditions in
 London was the assigned cause of weakness.
 The obstacles which have arisen to the me-
 gotiation of a settlement of the Anglo Rus
 sian dispute had seriously unsettling in-
 ffuence in London and the recovery which
 promptly set in and the holding of prices
 here above the London parity. the arbitrasc
 selling here for London account was heavy
 The recovery of opening losses was pretty complete through the first hour The mar
 ket was only gradually awakened after that from its waiting attitude. the revival touch- ing first one and then another stock, the general list hanging dull about las. night $ level. Erratic upshoots among the obscure specialties continued to be a feature of the market 4esss
 Amaigamated Copper was the feature of the day. This stock, considering the his- advanced rather soberly in the recent mar ket. measuring it's pace apparently by the continuous rise in the price of copper. To- ed to the first reactionary tendency per- ceptibis for many days. But this did not discourage the buying of Amaigamated Cop. per in company with the buoyancy of cop per shares all over the world. Violent ma- nipulation was also discernab1e in the mar
 ket and demonstrative offers for future privileges on the stock kept the demand
 keen. After rising through so the stock
 rose with added facility and seemed to
 uncover stop orders on the bear side. Its [3h point jump was over-matched by
 Sugars 5k point bound and the 3% point
 rise In Tennessee Coal. but the violent reac- tionary slump in these stocks unsettled the
 late market, the close being feverish and ir- regular in spite of Union Pacific's sustain ed rise of over points.
 Southern Pacific, St. Paul. Chesapeake & Ohio and Norfolk & Western were the most prominent stocks to get much a point over last night, but the recovery from the low point of the morning measured con siderable improvement
 The tone of th4 money market was call ed harder however and banks expressed expectations of higher rates. Foreign ex- cange moved upwards again and sterling at Paris declined. raising the pressure thus on gold supply The Bank of England maintained it's discount rate. although the weekly return again showed decline in the percentage of reserve. The Bank of France gained s5.s75. 900 in gold for the week, but the further fall in sterling at Paris injJ- cate that It's requirements are not yet sat isfied..
 Weakness in the early bond market in
 sympathy with stocks gave that department of the market irregular tone. Total sales par value, $11,045,000. United StateF bonds unchanged on call
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