The Montgomery advertiser., 1903-07-07
WALL STREET REVIEW
LITTLE IS DONE IN THE STOCK MARKET.
The Few Members Present on the Floor Were Almost Io4e and Small Trading Done
 WaA Listless.

,NsEM YORK. July 6.-The explanation was Ssiu SSeIeu oI the extreme duness of last Fri. a holiday on 1nat Rrta many members who wanted os oa,,a tne sxchange and had gone away on va
 Ga.lon yasn,n, trips: This explanation was supple the h,ehseu sy tsoday by the further suggestion that vne members have not yet returned iron, their ss,S sa,SSatlohs There Is very little more to ba sd sald or the days market which showed po ,areer aggregate of Transactions than that 1S nj, iast Friday. The few members present or ha aus auor were most idle and the small trading anons themselves was listless and inconse- quential There was an aimIess drift of nrices uownward and then upward and finally yieId
 Ing making tn" closing tone easy but the average level was at time far away from last weeks closing. Part of the dullness w.s attributable to a diversion of speculative in eeres, m the cotton market Wall Street was reported to have made important operations In mat market during the day putting out short Hhes and 1t was supposed contributing to inc snarp break In that market. The settling of the call money rates marked the passing of tne temporary demand for the July settle ment, , This failed to stimulate any demand for 1unds Tor speculation in stocks Supplies of money money today were abundant and there is no elnicuity in securing terms for short periods but the demand for anything less than six months loans Is merely nominal For loans carrying over the end of the year there Is an acuVe tnduiry, but lenders indsposed to put out funds freely for the ionuger period Tn View of the present demand for money and the continuing refiux of funds to the market the days rumors of further gold exports Tailed to disturb sentiment, although the an- nouncement of s2.ooo. 900 engaged was not maue until after the market closed. Besides the normal return of funds by dividend and interAst disbursements. the sum of S42O 900 was paid out by the sub-treasury today on teiegraphic order from San Francisco in pay ment for Klondike gold. thus marking the be- ginning of the inflow from that source which will be substantial means of recuper atIon for the domestic money supply from this time on The weekly railroad traffic statistics, which are compiled at Chicago. show the gen. eral merchandise movement we'll maintained instead of the falling of in the grain move ment. The very heavy immigrant transporta- tion Is given as an improvement factor. The regular reports of railroad earnings also made some nattering showings. but the, only stock to respond appreciably was Norfolk and Vest ern. That roads earnings for the fourth week in June showed an increase the same period of last year of S259. 2o4. 60 per cent. A number of coalers. Southwesterns and Great Northern showed large increases in gross earn ings. On the whole, the Norfolf and Westerns report of net earnings for May showed a small owing to the enhanced operating expenses and Denver and Rio Grande and net earnings for the same period showed a decrease of over 23 per cent The days weakness in Sugar was presumably due to the unstable market for its product. Smelting weakened by its strike and Amalgamated Copper was sold ap- parently on doubt over the trade prospect. Sharp advances in Colorado Fuel and Tennes- Coal were unexplained.
 The bond market was exceedingly dull and irregular. Total sales (par value) Sl. 00 600. United States 2s advanced 1a per cent and the 3's and old As A per cent. on the last call.
 New York Stock List.