The Birmingham age-herald., 1903-03-19
{ 'UNEASINESS IN
 STOCK MARKET Public Shows No Desire to
 Take Part, MONEY MARKETSTlLL TIGHT Buyers of Tennessee Coal Professed TO Have Information of Very Large Current Earnings and Prices
 Score a Slight Advance
YMARKETSTlLL TIGHT

New York. March 1s.-Stocks sho"eN some hardness today and hopes "eie duleed for A rise on the part Of cons'a erab1a speculative party, which IS "aech- inc the market closely for reeVFsis when the interior begins 10 senu funds to New York and money peeo'i'os easier. The few scattering indications oi q relaxation of the money market uiu no' a,,o,,.a sufficient to induce buying much havond the ranks of the professiohal shor+s who have become uneasy over the cessation of the liquidation in stoeks' ana .how anxiety to cover their shorts The .asss,ion .of the recent persistent selling of New York Central and Pennsylvania was particularly favorable influence III a negative way. The advocates of higner prices stand in dread of obstacles 10 pc encountered in the way of selling orders on the part of persons who are tled up in unmarketable ventures, and who may desire to realize on securities with an active market to protect themselves in possible money squeeze late in the year. It has been feared that the recent sell ing of Pennsylvania was for the purpose of making good losses sustained Tn project that has come to grief The re- covery in those two standard railroad stocks is great sentimental influence on the market Money conditions are un- deniably less stringent. The doubt is how far this is due to the liquidation or stockS and the lessened demand for money in the stock market and also to transfer or obligations to the foreign creditors, whose ~,f,, anflf in the future. The advancing course of foreign exchange is a significant evil dence of the present end of the borrow ing from foreigners. The sub-treasury made another small contribution to the local money supply. Interior banks for some time past have arranged as far as possible for all obligations to the govern ment to be paid to the New York sub treasury by draft on their New York cor respondents. The lessened requirement. Of the government institution may be ac- cepted as a complasant attitude on the part of interior money centers toward New York Of today's special movements, that in the coalers was due to gossip that the report of the anthracite strike commits sion presented to the President today, will prove to be favorable to the com panies. The influence of sugars advance also came largely from Washington, and 
 Buyers of Tennessee Coal professed to have information of very large current earnings.
 Corn products were bought on the declaration of it's first dividend. South ern Pacific furnished the only sensational feature of the day. There was heavy buy ing of the stock in the last hour, which carried the price up points, the net gain being only fraction under the top fg- ures The stock loaned at a premium of 19S, and there were rumors of important developments in connection with the con- troversy between the pool and the Union Pacific's interests. Shares of the latter company were moderately active at point gain. Other strong stocks included St. Paul, Reading, Northwestern and Ten nessee Coal. Profit-talxng toward the end caused a shading of prices. and the clos ing was irregular In the special classes there was an point decline in American Express.
 The bond market showed steadiness throughout the day, but shared only to a slight extent in the strength of the stock market Total sales, par value, S1,475, 000 United States bonds were all unchanged on the last call