The Montgomery advertiser., 1903-11-17
WALL STREET. REVIEW
PRICES COVER A coNsrDFnABLn
 RANGE.
Net chansss Small and Insignificant, However, Except in . Few Cases--Enormcus Business in Pennsylvania.

NEW YORK, Nov. Ie.-zpr,ces traversed . considerable range in the stock market today, but the net changes from last weeks closes are small and insignificant outside . few cases The early tendency vas downwards followed by a yigofous recovery, which was not fully held. but the closing was steady. The pro- fessional traders argued that the poor response on Saturday to the very favorable bank state ment indicated weak conditions and they sold the market with some confidence at the open in which another days enormous business was done. About a hundred thousand shares of this stock were traded in during the hrst hour. weeks low level. United states Steel % preferred red was also unssr pressure and failed to share in any extent in the recovery. The market moved in sympathy with Pennsylvania. There traction stocks accompanied by vague rumors of a comprehensive merger. Consolidated Gas moved downwards away from the group on ac- count of the published assertions that its fran chises were defective. The upward movement in Chicago and Alton continued and there were unexplained advances In the Toledo. St. Louis and Western securities. Sugar enjoyed the benefit of the immediate prospect for the Cuban treaty. The upward movement had for a substantial basis the prospect of improved conditions in the money market. which led to ance of funds. The showing of last weeks currency movement was accepted as evidence that the interior requirements have been prac. needs which have been met on account of the disturbance at St. Louis and Baltimore and on account of the high price of cotton have failed to cause any serious disturbance here is itself an assuring circumstance. With the re- Aux of funds to New York definitely in sight, the relief to sentiment Is great But the foreign trade statement for October shows even safer ground for optimism over the money market. The value of the months exports. which rose to above Si i6o o00. 900. is higher than for any month since October of 1900. and the excess value of the exports over the imports of 7e43e. 600 is also greater than for any month since October. 1900. This strong showing is due to the profitable market of the staple products of the soil. the value Of exports of manufacture being practically sta tiohary. It is commonly expected, however, that the value of iron and steel exports will shortly increase. Last months imports fell S6.- SOC, 900 below those for October of last year and this tendency also Is expected to grow in view of the decline of prices in our domestic manufactures. The explanation of the current inward movement of gold is thus made very clear. Today's engagements for import reached S2 500 GOO and it Is believed that the move- rnent has not yet exhausted itself. The rise ih call money rates today was probably connect. ed with the arrangements for paying the divi- dend on the United states Steel preferred stock
 The bond market was dull and rather irregu- lar. Total sales (par value), Sl,6i2. 900. United States old 4s declined t per cent on the last call.
 New York Stock List.