The Birmingham age-herald., 1902-10-23
LITTLE INTEREST IN STOCK MARKET Increasing Fear of Gold Exports Caused Hesltance READING ALONE STRONG List of, Prices Was Generally Lower In Railroad Stocks, Several Active
 Ones Showing a
 Decline.
READING ALONE STRONG

New York, October 22.--1n It's essential features today's stock market reflected practically all the previous days char aeteristics, including an utter lack of public interest and increasing fears of gold exports. Sterling exchange was quoted as high as 4S86O In fact the for eign exchange market was the feature of the day and developed most interest with an increased demand for sterling at this center and higher quotations for bar gold and American coin in London. The local advance was all the more in- teresting in view of the inadequate steamship facilities tomorrow. this pro- yiding only slow boat for banks to use in forwarding remittances. The demand was especially strengthened by further sales of stocks for London account in this market and represented altogether an eager inquiry for exchange. This may have been the substitution for gold Tor bills as a form of international remit tance. Demand bills for remittance next Saturday held at 4.S6.7O and the quoted price for next Wednesday was 4.S6.sO. Business was even lighter in volume and the tone of the list was professional throughout. Reading was the only strong stock at the opening, several fairly large lots being taken at a fractional advance over the London price. The rest of the list was generally lower Pennsylvania, Baltimore and Ohio, New York Central St. Paul, Missouri Pacific and similar other active stocks all scoring declines. The market dragged all through the morning session with no marked tenden- cy except for a few feeble rallies, but these were invariably followed by de- slines. Some of the stocks already men doned, participated in this irregular movement, as did also Norfolk and Vest srn, Louisville and Nashville and Illi- nois Central. There were no great re- sessions nor was any pronounced pres sure shown except, perhaps, against Bal timore and Ohio, and St Paul.
 The rather favorable statement of the Brooklyn Rapid Transit company failed to develop any demand for that stock. Western houses were buyers of Colorado Fuel and Iron, which suggested a revival of the recent fight for control of that property. London again took an unfa- vorable view of local monetary condi- tions and sold upwards of 10000 shares on balance. It is estimated that Lon don has unloaded fully 150,OO0 shares of international stocks on this market In the last week. The afternoon session brought general recoveries and early losses were for the most part wiped out The strong features of the day were Northen Pacific, which made good showing for September; St. Paul, Mis- souri Pacific, Toledo, St. Louis and Western preferred, Sugar and Colorado Fuel The weaker stocks were Illinois Central Norfolk and Western, Metropol- itan Street Railway and Sloss-S Sheffield. Among the days favorable develop ments were an announcement of another importation of gold from Australia and the continued ease of demand money. Call loans were made at between and per cent Time money was quoted at 6 per cent for all dates up to six months. It was practically impossible, however to get sixty or ninety day loans at this rate Additional purchases of bonds to the amount of $1,000,00O par value were made by the sub treasury. The latest treasury report shows an increase of government expenses over receipts of more than $11,000,0O0
 The bond market was very irregular today, but fluctuations were narrow and trading very small. Total sales, par value. $1,1S5,OO0. United States bonds were all unchanged on the last call.