The Montgomery advertiser., 1903-06-09
/, ALL STREET REVIEW
SEVERE INROADs MADE ON
 PRICES OF SToCAs.
In Last Hour Room Traders Were Compelled to Bid Up Values in Order to Cover Their
 Contracts.

NEW YORK. June S.-Fu,ther severe in roads upon prices of stocks were made today under a renewal of lctive liquidation In the last hour of the market th,s iouidation had al parently spent it's force and in order to c"'er their short contracts the room u adeI s were obliged to bid up prices from | to l1s for the active stocks. curtaling by that muci the extreme losses of the day The prime pal 1eiling was amongst the corn carriers anl the cotton carriers and the coalers also were subject U heavy selling pressure. These move hiehts were based In part upon the beiated tf the cotton crop and the fears that labor troubles will again b. eak out in the anthra "ife mining region. An unconhrmed rumor that the new Rock Island authorities are talk ing steps in the matter of rates that threaten widespread unsettlement in their territory was current, but 1t was not clear that 1t had any thing to do with today's weakness Rock Island itself was not weak some otte: stocks. The decline of 3 points in Atchi- bined to make 1t the most conspicuous in the days trading The &spoint drop in Reading was somewhat sensational In view Of the recent support in that stock and some of the North western stocka with important corn traffic, shared in the days weakness. Chicago ani Northwestern sold down to i69 and No.thern Securities the curb went to a new low record. It to be expected from the show ing made by the banks in the Saturdays statement there. was some calling of loans and forced liquidation a result. The teii- ing came from many direetions, London joining in the early offerings oh account of the ad- vance in the discount ate of the Imperial Bank of Germany. Commission houses also were very general sellers on orders from many parts of this country. small engagement of gold for export to Germany announced but this was without special effect as the question of large exports was an open one, in spite of the lowering of the exchange rate owing to the demand for money in Germany and the decline in the sterling rate both at Berlin and at Paris. It is reported that Ger man banks. in their eagerness to obtain d. lotments of the lately issued Impe. ial loan have committed themselves largely as to demand a recall of German credits placed abroad. Demand for money in Germany is In our own market preparation is being made for the payment of installment of S7, 500.- 900 of the bscsiptions to the Metropolitan Securities Company, due Wednesday, The 50 per cent installment on the new Penn sylvania stock calling for S45. 900 is payable from June 5 to June 27 although 1t Is deFstood that the Pennsylvania Company's six months loan for SAo.ooo 900 secured last January is to be paid off with the proceeds of the subscriptions In spite of the severe de- financial embarrassment. It Is well understood that very large loans in process of repay ment and It is commonly believed that impor- tant settlements have been made by private agreement, involving very large transfers of holdings in important railroad systems and arousing suggestions of possible changes in the control. There noticeable firm tone to- day in few stocks which have suffered most from some of the recent liquidation, notably Pennsylvania, New York Central St. Paul and Southern Pacific But at other points the ab- sorpton of the offerings was still on descend ing scale and clearly in the nature of accept ances rather than bidding for stocks The closing about steady at the rally.
 Bonds irregular. Total sales (par vaue} S2 4o5 900. United States bonds were all unchanged the last call.
 New Yak St"ck List.