The Montgomery advertiser., 1903-03-20
WALL STREET REVIEW
MUCH INTEREST IN MARKET
 MOVEMENT.
Fears of a Corner or Some Other Awkward Developments in South ern Pacific-Realizing
 During Last Hour.

NEW YORK. March Io.-Uncomrnon interest attached to today's stock movements by req son of the previous days advance in Southern Pacific. There were fears of a corner or somo other awkward development and trading in the first hour was irregular and very cautious. Southern Pacific shares fuctuated wildly at recorded in some months. and almost as sud- denly sold down to 66 Later when it became apparent that there was no occasion for alarm, the list steadied all around and showed gen eral improvement up to the last hour when realizing forced prices in the moro active is- sues down to a low level Covering by the short interest was on the extensive scale, es- pecially fin Southern Pacific and other pool is- sues. Louisville and Nashville exhibited con- siderable strength in the early dealings on buy ing that was attributed to the Western con- tingent. There was also good buying of At- ception of St Paul and Union Pacific, which reflected pressure, the international stocks opened generally above the late London quota ton Higher prices were reflected in Sugar, Tennessee Coal, iron products and Rock Island. But attempts to advance Amalgamated Copper met with little success. On the whole a much better feeling was shown in speculative circles, due to the improvement in the financial situa- tion. The undertone of the market was fairly firm. though trading was in moderate volume. afternoon. conditions although the market was lower in spots as a result of profit taking The strength of Missouri Pacific seemed to come from buying by Gould brokers. The rise in Pacific Mail appeared to be based the belief that the property must benefit by the a slightly wider distribution of business in the late session and the Westerners were again active in some of their speculative favorites Throughout the day interest continued to cen ter in Southern Pacific, which was traded in to the extent of over e5. 900 shares, closing at almost the lowest price of the day with a net loss of points. Union Pacific was next to Southern Pacific, had turned It's holdings of Southern Pacific stock over to the Oregon Short Line. A number of stocks made material gains on the day, these including the "Soo'' issues, North American, Pacific Mall, Northwest, Col orado Fuel and New York, New Haven and Hartford. Following the reaction the market closed comparatively duh and easy. The local financial situation shows improvement the banks losing thus far this week only about $500 900 against SS. 500. GOO in the same period of last week. There was another cd vance in sterling exchange because of the easier money conditions and increased demand for remittances from importers The rise amounted to 10 points compared with yes terday's closhing rate. most of the business being done at 4 7 for demand. The prevail ing rate for call loans was 6h, though in the late afternoon 1t was n a furry, winch carried the price to 2 per cent. closing at per cent.
 The bond market responded sharply in spots to the improved speculative temper. Total sales (par value). si $50. 900. United States bonds were all unchanged on the last call.
 New York Stock Hist