The Montgomery advertiser., 1902-01-14
WALL STREET REVIEW LACK OF ANIMATION IN THE
 STOCK MARKET. Dealings Were Palpably in the Hands of the Professional Traders.
 Level of Prices Lower as
 General Rule.

NEW YORK. Jan. i3.-There was lack of
 animation in the stock market today and the
 dealings were palpabIy in the hands of profes
 sional traders. This element was bearish in
 it's opinions on the outlook and sold stocks
 quite freely throughout the day. The level of
 points under last weeks close. No large
 amount of liquidation was brought out by this
 considerable decline and there was a movement
 to cover shorts late in the day, causing a
 rally, of point or over in some of the most
 prominent stocks. but this recovery was pfac
 was extremely dull and heavy. There was no
 striking news of a character unfavorsble to
 values, out u was very obvious that any or
 abandoned for the present. The speculative
 element has been indulging the hope that the
 their hands the heavy volume of securities re-
 suiting from the combinations and forma-
 tions of last week were about to put forth a
 determined effort to lead bull speculation with the intention of making a market for
 their securities No sign of any such attempt has appeared since the publication last week
 United States Steel Corporation. Hope of such
 runors of the illness of the market operator lntrusted with the care and manipulation of
 those n sfocks S and by of unload | s3o GOO. GOO of Atchison debenture bonds to l cluding acquired lines and equipment. which Wall Street has assumed had been would be provided for otherwise. Reports of very | large projected outlays for betterments by
 Union Pacific emphasized this influence. The | permission granted by the United States SI- preme Court for the State of Minnesota argue on its petition to bring suit for the annulrnent of the formation of the Northern Securities Company. although its force was little under stood. had a chilling effect on speculation ow- ing to its promise of a prolonged legal struggle and delay in the foatation of the company's s | securities. The financial world contnucsr' to ponder the revelations of over-extended credit in the cases of the trolley syndicate and in the rubber and asphalt trades which carry sug- gestions Of other possible commitments of cap ltal which would help to explain the q eat railing on in demand for the securities listed on tie Stock Exchange Money was slightly II me. today anu ste ling exchange was no | higher, but exports of gold are expected to be made this week There is a growing feeling
 that even when money does accumulate at thi, centre 1t may not serve to stimulate sperula- | tion In the prevailing spirit of scepticisn in the value of securities at present price levels The shading Of prices of copper led to a | sharp raid in the late dealings on AInalga- mated Copper. which helped to unsettle the | close. Exceptional movements were made by LackaWanna, which rose 44 and lost most of It Glucose preferred, which gained S. and American Express. which lost 6.
 The bond market not very active hut It was irregular. Total sales (par value) S3- 30o0O. United States refundng 2's declined
 h and tho 3's coupon t per cent. on the last