The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1902-10-28
WALL STREET REVIEW
PROFESSIONAL ELEMENf STILL
IN CONTROL.
Market Gives Little Promise Of Any
Change from Last Weeks Dull
and Marrow Conditions.
Trading Very Light.

NEW YORK Oct 27.-The course OF today's
stock market gave little promise of any change
from last weeks dull and narrow conditions.
Trading very light and the professional
element still in control. Reports Of fresh
labor troubles among the railroads running
encouragement from Lontlon, where quotations
for the international stocks were fractionally
lower. Colorado Fuel and Iron was the most
active feature of the opening advancing over
per cent on moderately heavy transactions,
but losing fully half S;n the
traded in at the opening decline and Lacka.
wanna sold UT. ! per cent. at the nrst and
first hour the weakness Of the list became more
marked. though with no direct evidence OF
then % BY Ne% York
trail Pennsylvania, Baltimore and Ohio. Read
ing, Erie. Louisville and Nashville. Chesapeake
Pacific. Missouri Pacific, st. Louis Southwest
ern pfd. Wabash Minneapolis. st. Paul and
sault Ste. Marie. Toledo, St Louis and West
Copper and hide and leather pfd. With scarcely
an exception the heavtness Of these issues con-
stances became more acute There were few
feeble rallies, but these were limited to nue.
a turn Of general weakness The selling seem
ed to come from small nolders on the long SIDE:
London sold the list impartially TO the extent
of about s. 900 shares and bought moderately
of Northern Securities Commission houses cut
no figure in the days operations and traders
viewed the situation with increased indiffer-
ence. The only noteworthy feature was the de-
cline In the rate for commercial paper which
was last week practically unobtainable at less
than the legal rate but today fell to sac
5A. This rate secured by boomers OF hrst
rate commercial credit and was generally
accepted by interior banks which prefer to
loan money to mercantile interests rather than
obtain the higher rate in Wall Street Banking
experts regarded this as especially sig
nificant in showing the downward tendency
of money A slight advance was shown in
sterling exchange and 1t was believed there
had been a heavy accumulation of CONNER
cal bills over Sunday. Exchange was quoted
at a. SO SO to 4 SO. so. In spite Of this increas-
ed frmness gold exports are regarded as more
remote than ever. Another shipment of Austria
liza gold to this country was reported by the
Anglo California Bank of San Francisco and
the amount $i.75o. 900 probably will be trans
ferred to this center at an early day. The
final hour found the list even more narrow with
a further contraction of business. One of the
special features was a 10 point decline IN
Brooklyn Union Gas and other nigh priced
stocks weer off to points. The closing
was weak. Further gross and net traffic re-
turns some of them quite favorable were re-
ported by Louisville and Nashville. Southern
and S. Louis, Georgia Central and Hooking
Valley. In the way of gossip 1t was semi
officially stated that there would be no early
increase in the Louisville and Nashville divi.
dend rate The heavy selling of Norfolk and
Western was ascribed to the belief that the
coming dividend announcement concerning the
common stock woul dprove disappointing. The
active bond issues were weak all around on
small dealings Total sales. par value, S $685.
600 u 8. bends were all unchanged on the
last call.