The Birmingham age-herald., 1902-07-18
]. STOCK SALES SHOW
 4 LARGE INCREASE Substantial Progress Made and
 Market Was Broad U. s. STEEL STOCKS FAILED Made Renewed Struggle to Advance, But Again Met Heavy Sales at
 Everey stage-Prott Taking
 Affected Some Stocks.
U. s. STEEL STOCKS FAILED

New York, July 17.-The aggregate sales of stocks today show further in- crease in the volume of dealings which fairly crossed the million share mark. Substantial upward progress was made and the market was broad in the sense that large number of difficult securities were dealt in and the trading was also better distributed among the new stocks among which the principal activity was centered. The same preference was shown for the low priced stocks today with the exception of a speculative incur sion into the trunk lines and Wander bilts. An attempt was made to bring the speculation back into the high priced western railroads. but it will be observed that the desire to take profits on the considerable advance which stocks have had was still too eager to allow much upward progress.
 The United States Steel stocks renew ed the struggle to advance. but again met heavy sales at every stage. Some of yesterdays conspicuously low priced stocks were acutely affected by profit taking. This was notably true of the Chicago and Alton stocks. The evidence of profit taking in these and the sud- den relapse of over ? points in Colorado Fuel after a point advance had a de- cidedly chilling effect and put a sud- den stop to the activity of the market leaving it with a level which fairly averaged below last night.
 The opening advance to Colorado and Southern and Kansas City Southern was attributed to the same forces as was the Chicago and Alton movements yesterday. These movements are supposed to sig nalize the return of the western contin- gent from the corn market to the stock market The tone or doubt and hesitation shown in the market for the July option at Chicago was taken as warning for possible speculative surprises. The check thus brought about to the animation of the market was changed again by the heavy demand developed for the Read ing stocks and the coalers. This demand was undoubtedly based upon the asSump- ton that the coal miners convention will decide against a general strike. Late in the day Chesapeake and Ohio renewed it's strong advance to the extent of 21s but without checking the selling to real ize at other points and making the clos ing irregular.
 Although there was supposed to have been an extensive speculation upon the unknown chances of the amalgamated dividend. the declaration at the unchang- ed rate failed to arouse that stock from the torpor in which it rested all day.
 The days activity evidently represent cd the prosecution of q regular cam Iaign for a rise which was based upon today the absence of any unfavorabe factors, rather than upon any new de- ,velopments favoring higher prices. Call money rates worked easier today and there was a diminution of pressure from the interior for currency. Sterling ex- change maintained its firm tone and time loan rates are strongly held. The controllers call for statement of con 1ition of national banks as of yesterday marks an event for which the recent extra demand fer cash for the interior has been in prepare tion. 1t was sub- ject of remark that required data of con diinn Wh.ch was in'is'ial , u,ar to the date of the call indicating purpose to ascertain conditions as nearly as possi- ble of even dates. Thee was some ques- ton whether this new departure does not conceal a strategem designed to in- crease the trust worthiness of the show ing.
 Bonds were active and firm; total sales, par value $403l, LOO. United States re- funding 2s and the old As declined Is per cent on the last cell.