The Montgomery advertiser. [volume] (Montgomery, Ala.) 1885-1982, 1902-10-23
WALL STREET REVIEW
UTTER LACK OF PUBLIC INTER
EST.
Increasing Fears Of Gold Exports
The Foreign Exchange Market
the Feature Of the Day.
Declines at Opening.

NEW YORK. Oct. 22.-In Its essential fea-
lures today's stock market reflected practically
ing an utter lack Of public interest and in
creasing fears Of gold exports. Sterling ex-
change quoted high as 4.s6. so. In
feature of the day and developed most inter-
estingly with an increased demand for ster-
ling at this center and higher quotations for
bar gold and American coin in London. The
local advance was all the more interesting In
view Of the inadequate steamship facilities
banks to use in forwarding remittances. The
demand was especially strengthened by fur
thsr sales Of stocks for Lond9n Account tn
tai inquiry for exchange. This may have been
the substitution for gold for bills as a form
remittance next Saturday held at 4.86. 70
and the quoted price for next Wednesday was
1880 Business was even lighter in volume
throughout. Reading was the only strong stock
at the opening. The rest of the list was gen
orally lower. pennsylvania. B. and o., New
York Central St. Paul. Missouri Pacific and
several other active scoring declines. The mar
iset dragged all through the morning session ssn
feeble rallies, but these were invariably fol-
lowed by declines. Some of the stocks already
mept as aid also Norfolk and Western. Louis
Vile and Nashville. aod Illinois Central. There
were no great recessions nor was any pro.
nounccd pressure shown except perhaps against
Baltimore and Ohio and st. Paul The rather
favorable statement of the Brooklyn RAPID
transit Company 1alieQ 10 ueNclop any HS-
mand for that stock. Western houses were
buyers OF Colorado Fuel and Iron. witt" sug-
gested q revival Of the recent night for con-
troll Of that property. London again took an
unfavorable view of local monetary condi-
lions and sold upwards Of 10000 shares on
balance 1t is estimated that London has un,
loaded fully so 600 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
Northwestern. which made a good showing for
September. St Paul. Missouri Pacific. Toledo
st Louis and Western pfd.. Sugar and Colo
RADIO Fuel. The weaker stocks were Illinois
Central, Norfolk and Western and Sloss-Shef-
field Steel Among the days favorable develop
ments were an announcement OF another i'm
portation of gold from Australia and the con-
tinued ease of demand money. Call loans
were made at between 5 and 8 per cent Time
money quoted at per cent, Tor all dates
up to six months II was practically impossl-
bic. however to get eighty OF ninety day
loans at this rate. Additional purchases OF
bonds to the amount OF 81 ,ooo. 600 par value
were made b. the sub-treasury. The later
treasury report shows an increase OF gov
eminent expenses over receipts of more than
sII 600 900. The bond market was very ir-
regular today but fluctuations were narrow
and trading very small. Total sales par
value ST. 1856 900. u. s. bonds were all IN
changed on the last call.