The Montgomery advertiser., 1903-05-02
WALL STREET REVIEW
LESS THAN QUARTER OF MIL LION sHARES CHANGE HANDS.
Dealings on the Stock Exchange Fall to Low Ebb-Congestion of the Total in Q Few
 Shares.

NEW YORK, May I.-Less than a quarter or million shares of stock were dealt In on the Stock Exchange today. making the low intensely dull and narrow throughout. There was considerable congestion even of the total aueaings usg in few stocks. notably Pennsylvania. Missouri Pacific and stocks of corporation sin the City of New York aving franchise privi- leges. The rise in the last-named group was news announcement unless it might be the effect of peremptory official denial of ru- mors that the interborough transit company Transit Company. The declaration by the Pennsylvania directors Of the regular semi annual dividend of 3 per cent. was the oc- level above last night by the traders who had sold the stock yesterday on an ire sponsible rumor that dividend rate was to be reduced. Delaware and Hudson was marked up rapidly 6% in the late dealings without any special news to account for it. The souri Pacific was attributed to the pool which has as long been interested in the stock. Some of the other Gould stocks sympathised profits on a small scale during the last hour. and thus reduced the price level slightly, but the closing was steady There was no change of importance in general conditions to &C., count for the veering around of sentiment from that of yesterday. The movement to ar Sitrste sl the present strike of the engineers of narDor craft in New York bay was cited as an encouraging incident. and is . fair ex- ample Of the kind of news on which current oosiucss III btOCkS was transacted. The Qui6t tone of the wheat market detracted somewhat from the anxiety lest the Western frosts should have damaged the crops. The se- verfty of the weather made more impression In the cotton market. Louisville and Nash ville reported an increase in net earnings for March of S22e,7e2 out of an increase in gross of S476,499 The showing made by forty four railways which have reported for the month of March is an increase of nearly 26 per cent. in the net earnings compared with March of last year.
 The weekly movement of currency has largely been In favor of New York. even al- lowing for tho S5,ooo in gold shipped to Paris. $500, 900 shipped to Argentine and something near a million dollars to Canada. The receipts from the interior have over balanced these losses apparently to the ex- tent of over s3. ooo. 900. The notable strength of sterling exchange was taken more account Of than the currency movement It Is agreed among bankers that the lack of immediate shipping facilities was all that precluded ex- ports of gold today There was a slight hard ening in the call loan market to per cent due to the arrangements for the regular May Ist payments of dividends and to the pay ment of subscriptions on the SIo. 900. 900 of new Erie convertible bonds which called for besween Se.ooo. 900 and Ss, 900 900. The closing of the London stock exchange was a fa< or in the dullness of the trading.
 Bonds were Irregular. Total sales 0par all unchanged on the last call
 New York Stock List.