The Montgomery advertiser., 1901-08-06
WALL STREET REVIEW
YIELDING TENDENCY DISPLAY
 ED FROM BEGINNING
Occasional Rallies Cnavailing in Checking Steady Stream of Liquid ation-Mstal Stocks Bear the
 Brunt of the Onslaught.

NEW YORK. Aug. 5.-Speuiasi sion today betrayed a yielding tendency from the opening till the closing of business. Re- sultant losses ran from to s points for the stocks most activ ely dealt in and in cluded leading members of all principal gre ups. Occasional rallies were inavaii- ing in checking the steady stream Of H. quidation and the professionals utillzed every temporary recovery 70 put out ad- ditional short lines of stocks. Western and Pacific stocks bore the brunt or the selling in the railroad quarter, while United States Steel and Sugar were Tn the van in the downward movement or the specialties. The failure to effect settle ment in the steel strike on Saturday pre- pared operators for a resumption ot 2- auidation in the United States Steel ts- sues at the opening of business today First sales of the common were l5,OU shares at from Al down to 4Ne, which about measured the low point until well in the afternoon. when 1t sagged to 70. ln- termediate transactions were on a narrow fractional range. but the fact shat the stock was well backed up around 70 did not exert any strengthening enect on the general market. The closing price was the lowest of the day and indicated net loss of 3lt joints as compared with Satur- days close. Preferred stock suffered an extreme loss of SIS and ended points on. The speculation of the day hinged on the developments fin the strike situation and the street was inclined to view the failure to reach an agreement as foreshadowing a highly sensitive stock market for awhile. Other metal properties scored marked sympathetic losses, Tennessee Coal dipping 3h and American Car and Foundry preferred points. Selling by the West continued in spite of reports of rains in various sections of the corn belt and the publication of large number of very unsatisfactory increases in railroad earnings for the fourth week in July. and dropped B. to 13os on sales by the professionals, who argued that the forth coming opposition would make large in roads on its earning capacity. But little news was circulated to account for the acute weakness of many stocks and the continuous selling was attributed in part to liquidation by holders who have become tired out by the recent steady drop of prices. A holiday at London deprived the market of it's usual cue as to tho attitude of the foreign spectators towards the developments over Saturday. The large expansion in the loan item in Saturdays bank statement was commented on to- day. but not adequately explained The increase Is believed to be due to various corporate financing now in progress. Money rates were easy all day and the sub-treasury paid out a million dollars on gold receipts at Pacific Coast points As the session drew to close the pres sure against stock market increased and the lowest prices of the day were made rent that the United States Steel common and preferred were to be held at 40 and 20. respectively. but the preferred never theless broke to s94s The immense deal ings in the stocks were made within range of point comparing the opening and lowest prices of the day. Many rali- road stocks covered a range of from 2 to 3 points in the same period.
 Railroad bonds. were fairly active. but weak in sympathy with stocks. Total sales (par value), g, ,25O00o. United States bonds were all unchanged on the last call
 n~S
 NEW YORK, Aug 5.-Money on call steady at 2Q2l2 per cent: last loan 2.
 Prime mercantile paper. 41aG5 per cent.
 Sterling exchange firm with actual bus mess in bankers bills at 4,s7% for demand and 4sSh@4s5ss for sixty days; posted