The Montgomery advertiser., 1903-06-26
WALL STREET REVIEW
DRIFT ON AVERAGE WITHIN
 RANGE OF POINT.
Even the Professional Traders Aban- don Their Attempts to Move Prices-Low Level of Year
 in Total Dealings.

NEW YORK, June 25-Even the profess s,onai si room traders practically abandoned ef- The drift on the average was within a range oi less than a full point and uncertain below the quarter million share mark. fnari6 ins s the low level for the year. If the deelinA. In m.b .bbennsylyania, St. Paul. Colorado Fuel and pc little left of the days market. The busi- ness ness eongesth in these stocks and the con. second 5's made up the market of the day. me selling of the steel bonds down to new liquidation of large Individual account in connection with which developments are ex- Pected in the directing for this corporation. But the iron and steel stocks as a whole were somewhat depressed today by the tone of The Iron Ages review of the trade. which was prices for steel products for so4 oWins to tSe e iact that the outside mills are acting freely. Independent of the leading producers and no one talks of 1904 requirements" The special weakness in Colorado Fuel. which fell an ex- treme 3%. seemed due to realizing on the control by the Gould Rockefeller interests. This encouragement also see<'d to be the mo- the Gould stocks early in the day. Denver and Rio Grande and Wabash preferred rising point or over There an air of expec- tation among professional operators in stocks of some development affecting securities a result result of the return of J. P Morgan. byt Wheat and corn continued to advance and the days weather map was considered unfavor- dpie The weather in the crop regions Is studied critically from day to day as the prog ress and final outcome of the crop Is believed to effect vitally the financial future. The money market Is very calm. notwithstanding the near approach of the requirements for the new fiscal year and the important operations in connection with the Pennsylvania stock subscriptions. But apprehension of a money squeeze for the months end had it's part in repressing speculation to the low level which was reached during the day. The Pennsylva- mia stock operation was an influence also in the foreign exchange market the subscrip- tions by foreign stockholders for the new stock serving to weaken the sterling rate to a marked degree. Sterling also advanced at Paris and Berlin. but over S2, 0O0. GOO was withdrawn from the Bank of England for German account Tn the local market not only did call loans fail to stiffen. but there has been relaxation in the rate for time loans within the last two days. the cause of which for the labor dispuet in the local building trades was disquieting factor and its infu- ence in weakening the iron and steel stocks Reports of a disturbance of passenger rates in the West minor influence. The mar ket closed easy but at very small net changes.
 Aside from the large selling of United States 2's and 6's the bond market was dull and ir- regular. Total sales tpar vaue,l S2, 535. 900. United States bonds all unchanged on the last call.
 Treasury Statement.
 WASHINGTON, June 25.-Treasury balances S23o. 352. o76; gold. sioI PA, 369.
 New Yak Stock List.