The Montgomery advertiser., 1903-04-16
WALL STREET REVIEW
DECIDED FALLING OFF IN
 VOLUME OF BUSINESS.
Some Demand to Cover Short Con- tracts and There Also Was Evidence of Substantial Liquidation, But Not
 Precipitate.

NEW YORK, Aprn Is-The notable feature
 of todays stock market was the decided falling
 for the day ba, ely reached half a million shares. compared with over 600.o00 yestet day and million and quarter on Monday. There
 tracts today. but there was also evidence of further liquidation, of e substantial but not at sll . precipitste character. As prices table selling which always follows violent decline by lucky traders who got In at the bottom and are quick to take profits. and also on the part of the buyeis of . more influential character, who bought on the decline to sup
 port the market and to treasure sentiment ice of vaiues' | There @ " wss iarse su amount % of this kind of buying on Monday and vesterdny
 morning during the struggle to turn the market
 upwards. The fact that Northern Securities on the curb. although quiet, ruled at level below last nights close all day was an ad- ditioual incentive to caution on the long side. different points in the list of seemingly good
 character and based on individual causes
 Missouri Pacific was well taken all day. on its
 m increase over February of last year of
 $31377o. which Is no less than 79 per cent
 Increase. The other members of the Gould
 gruup moved in sympathy Baltimore and
 Ohio's report for March showed an increase
 fin net earnings of 34 per cent and was
 Western moved up in sympathy and was helped
 also by rumors of proposed increase in the
 dividend rate. The annual meeting of the New
 tlDCkuOfQtfS
 towards the new stock issues and without any
 evidence to confirm recent allegations of q
 change in control relieving some anxiety and
 had favorable influence. Amongst the In
 dustrials Sugar had the advantage of, an advance In the refined product. ice preferred
 reelected reports of an acquisition in Baltimore; Metropolitan Street Raj way responded to ru- mors that the question of investigation Of its finances by the local municipal authorities was
 decided in the nssativs. an advance I in taC s.' and pool operations were manifest in United $ stes Leather stocks.
 A number of iron and steel industrials were ii clined to advance also. The tone of the whole market changed late in the day when Manhattan began to run or on the news that The general market reacted and in many cases fell below last night the Pacifcs and Western stocks being notably affected. Amongst mac tive stocks there was a drop of 27 points In Westinghouse Electric first preferred and ie points In Fort Worth and Denver City stamped The money market continued to to @ work easis, .is, | is contributing to the local money market bs | reason of the increase in refunding operations and the rates of exchange at interior point | indicate . How of currency towards New York There was a stifening of foreign exchange rates however. and an advance in discount l continues very active over. the possible bear. ings uf the Northern Securities decifion and tht | probable steps which will be taken in the | event of dissolution of that corporation. fhs exunt to which the Northern Securities stocs | has been distributed and the consequent dis | BanatuRslon cf h6 .dinfs Of Northern Factnc Hhe | Great Northsrn m stock vk!ch would result from | an exchange for outstanding Northern Secari l ties stock was subject of special interested discussion today as was also the probable ac l ticn to be taken on the quarterly dividend or | Ncrthern Securities at the regular period. fol | which Is now imminent.
 ! Bends were firm for the most part, althougi l there were some recessions on the late reac l tion f, stocks Total sales (par valuc). S2. | 7e5.o0o. United States old 4s declined < ant I the 5s advaced Y on the last call.
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