The Montgomery advertiser., 1903-04-25
WALL STREET REVIEW
DEALINGS FALL TO VERY LOW
 LEVEL.
Professional Element Disappointed Over Failure of Removal to New Building to Stimulate Trad
 ing-Public is Indifferent,

NEW YORK. April 24-DeaiinKs in stocks !el again today to near the lowest level ef .ns year, partly as a result of the disappoint- ment Of the professional trading element over the failure of the removal to the new ex- enange building to stimulate activity yester- day The falling on in dealings was attrib- uted in part to the banishment from the board room Of a class of traders who formerly had tne privilege of admission to the lobby of the over the railing 1t is evident. however. thaf the public is entirely indifferent to the mar s,s. ke. al present. So long as this condition per to prove futile in enecting any wide move ment of prices. The duilness of today's mar ss,. sst was only equaled by its inertia Only a haII oozen stocks of any prominence got as much as point away from last nights level at any time The sluggish course of the mar through mere inanimation. Some depression oi sentiment was caused by the disapproval of the newly inaugurated freight rates from state Commerce Commission. Much impor- lance Is attached to the advance in freight rate rates as an offset to the large increase. in COST or operation which have produced the recent downward tendency in the net returns rom the transportation industry. The fact on the freight movements that the railroads or the country have all the business they can accommodate gives little hope that lower rates would prove an advantage by attracting additional business. The rise in freight rates nas been so general that 1t is feared that the decision of the Commerce Commission is pre-
 
 roads Some disappointment was caused also by the failure of the British budget proposals 70 help American stocks or the American grain market: The reduction of the income tax was argued, would increase the supply of capital seeking investment. The remission of the corn duty failed to induce any large export demand for grain in this market There ts selling of stocks for London account. There was also strong tone in the sterling ex- change market and advance to within measurable limits of the old gold exports. Later in the day forecast of the bank state ment had stiffening effect on stocks. The various estimates of the weeks gain in cash changed from S5. ooo. 900 to S7ooo, GOO, of which S2. .9e6. 900 from the sub-treasury op- erations. The progressive ease of the money market confirms promise that the position of the banks has much strengthened. Reading was up point on account of the testimony Of the president Of the company before the Interstate Commerce Commission. The notable advance in the silver market was the basis of large buying of Mexican Railroad stocks ow- ing to increase in values of Mexican money which results. Amalgsmated closed intensely dull. but fairly steady at the late recovery. There was renewed demand for the newer issues of raiirosd bonds. Otherwise the bond market was irregular. Total sales tpar value), S2. o36, 900. United States bonds were all un- changed on the last call. New York Stock List. -