The Birmingham age-herald., 1902-10-28
LITTLE PROMISE
 OF ANY CHANGE
Course of the Stock Market is
 Still Dull
PROFESSIONALS CONTROL
Reports of Fresh Labor Troubles Among Railroads Running Into Chicago and Lack of Interest
 Kept Trading Down.

New York. October H.-The course of of any change from last weeks dull and narrow conditions. Trading was very light and the professional element was still in control. Reports of fresh labor troubles among the railroads running into Chicago were heard. Traders re- ceived no encouragement from runninfg ceived no encouragement from London, where quotations for the international stocks were fractinally lower. Colorado fuel and iron was the most active feat ure of the opening advancing over 3 per but losing fully half it's advantage before the close. Baltimore and Ohio also was extensively traded in at the opening de- cline and Lackawanna sold up l per cent at the first and only offering of the day By the end of the first hour the weak ness of the list became more marked though with no direct evidence of pres sure to sell.
 Losses of a point or more were then shown by Atchison, New York Central Pennsylvania, Baltimore and Ohio, Read ing, Erie, Louisville and Nashville, Ches- apealxe and Ohio, Norfolk and Western, Texas and Pacific. Missouri Pacific, St. Louis Southwestern preferred, Wabash. Minneapolis, St. Paul and Sault Ste Marie, Toledo, St. Louis and Western, Canadian Pacific, sugar, amalgamated copper and hide and leather preferred. With scarcely an exception, the heavi- ness of these issues continue throughout the day, and in some instances became more acute. There were few feeble ral- lies but these were limited to fluctuations and the early afternoon brought a turn of general weakness. The selling seemed to come from small holders on the long side London sold the list impartially to the extent of about 15,000 shares and bought moderately of Northern securi- ties. Commission houses cut no figures In the days operations and traders view ed the situation with increased indiffer- ence
 The only noteworthy feature was the decline in the rate for commercial paper, which was last week practically unobtain- able at less than the legal rate, but to- day fell to 512Q574 This rate was secured of boomers of first-rate commercial credit, and was generally accepted by in terior banks which prefer to loan money to mercantile interests rather than ob- tain the highest rates in Wall street. Banking experts regard this ease with
  ward tendency of money A slight ad- vance was shown in sterling exchange and it was believed there had been D heavy accumulation of commercial bills over Sunday. Exchange was quoted at aS6. 50 to .60 In spite of this increas- ed frmness, gold exports are regarded as more remote than ever. Another ship lnent of Australian gold to this country was reported by the Anglo-Calnornia bank of San Francisco and the amount t1, 750, 600 probably will be transferred To this center at an carry day. The final hour found the list even more narrow win a further contraction of business.
 One of the special features was a lo- point decline in Brooklyn Union gas and other high priced stocks were off to points The closing was weak. Further gross and net traffice returns, some Of them quite favorable. were reported by Louisville and Nashville, Southern rail- way. Mexican Central Cleveland, Cin- rinnati. Chicago and St. Louis, Georgra Central and Hooking Valley. In the way pf gossip it was extraordinarily stated That there would be no early increase Tn Inc Louisville and Nashville dividend rate. The heavy selling or Norfolk and N,estern was ascribed to the belief that the cor ing dividend announcement con- rerning the common stock would prove Disappointing.
 The active bond issues were weak all around on small dealings.
 Total sales, par value, $1,695,OOO United Etates bonds were all unchanged on the last call