The Montgomery advertiser., 1903-04-18
WALL STREET REVIEW
PRICES ACHIEVE coArPREHEN-
 suvE UPWARD MOVEMENT.
At High Levi, However, the Market shows Itslf Very Sensitive.
 Conspicuous Stocks Rally
 Towards the Close.

NEW YORK. April .I7-Prices of stocks achieved pretty comprehensive upward move showed Itself very sensitive to the unfayorable enort of violent slump in Metropolitan Street Hallway, as t did on Wednesday to the sud imminent. Today the market displayed much greater resalsency and the final recovery when the decline was checked in Metropolitan Street Railway was rather violent in some cases. The reaction had practically wiped out that advance, but some conspicuous stocks rallied ates a@os ,S the & top level in the last few min in an irregular day. The days movement of prices was largely professional. but was evil dent operations. This was clearly shown by the aggressive way in which prices were bid up at the last against the shorts after their raid upon the market. The advance 1n the market was pursued with some manifest can ton and with attentive consideration of symp- toms of renewal of realizing sales The failed to develop any signs of renewed iiqui. dation. On the other hand. there was no indi- catoin that there was any new outside interest attracted to the. market by the advance in rrices. Related covering of some large short accounts was in evidence and was an i'm POT Pcrans factor Tn the strength of some stocks. come to e pause before teh sudden drop in Metropolitan stret Railway and prices gave movement. There had been evidences all day of a long supply of this stock in the market and the bears planned their fierce raid with the
 
 disiodging long stock. The price fell rapidly 6t points. but the subsequent rally wiped out 2h points of this loss. Metropolitan securi- ties fell an extreme 6ix and rallied ( points. The loss in Third Avenue extended to eN on comparatively light dealings and there was no transaction in the stock after the market ral- lied. Manhattan continued firm and turned strong. rising 2& over last night at one time, in spite of the vote of the employees in favor of a strike. The hope Is evidently en- tertained that strike viii be averted. Some of the standard railroad stocks were compara- lively late coming into the days movement and there was an unusually large number of in- dustrials embraced in the advance Colorado Fuel and General Electric made gains of 5lk Peoples Gas advanced 2k just at the last and the list of lq2 point gains amongst the industrials was a long one. General consid- erations apparently ruled the speculation euch as the technical strength of a position follow ing so prolonged downward course of prices ket by liquidation. good railroad earnings. ex- ceptionally fw encouraging crop rturns and re- ports of large current export business in the gain markets. The ngues of the weeks grain exports were, however. -somwhat disappoint. ing. showing an incrase over last week of wheat of 344.4o2 bushels. but decrease in corn exports of nearly million bushels. Sub treasury operations indicate q gain by the banks on that acct unt of $l.633, 900 and 1t Is estimated that this figure will be expanded In view of the stock market liqiidation a con siderable loan reduction is confidently expected in tomorrow's bank statement.
 Tie conditions were firm and were little af- feeted by the late furry in stocks
 the late furry in stocks. Total sales (par value), S2, eos 900. United States new As advanced < on the last call.
 New York Stock List.