The Montgomery advertiser., 1903-06-18
WALL STREET REVIEW
SLUGGISHNESS IN HE FLUC.
 TUAToN OF PRICES.
The Market Has Fallen Into a Coma tose Condition, While Awaiting New Developments in the
 General Situation.

NEW YORK. June 17.-Today's operations in stocks were made up almost wholly of profess These seemed to demonstrate to the satisfac- ton Of the testers that stock for sale was to be met on advances and that the offering down of prices did not promise large success in dis lodging selling orders. The consequence was a progressive dulness in the trading and slug gishness in fluctuations in prices. This agrees with the general expectation of the most expe- Tienced observers who saw in the sudden rally of last Thursday the natural course following culmination of the long decline and leaving large short interest uncovered after the ur- gent liquidation had been completed. With the ed and then declined, but without getting back to the low level of last Wednesday although they were near it yesterday morning. The fail ure Of the bears to get prices below the pre- yious low record yesterday saved the market from a renewal of forced liquidation on &C., count of exhausted margins and uncovered stop loss orders, which had been pretty well wiped of the brokers accounts by the pre- vious lower prices. After these various fuc- tuations the market naturally fals into a pe riod of feeble and hesitating movement on the operations by room traders while awaiting a their attempts to move prices the professional operators made capital this morning of the ex- pectation that gold would be engaged for ex- port to Germany tomorrow. Actual inquiry was made at the assay office by one ,interna- tional house looking to shipment of gold, as the strength of foreign exchange here and the decline in sterling at Berlin brought the op- eration closely within the range of profit. Some selling of stocks this morning for London ac-
  change but London turned buyer of stocks later in the day. On the upturn Pennsylvania was made the leader of the market and was lifted at time than points.
 The movement in the stock seemed to be due to organized efforts and was attributed to the rate at which subscriptions are being made by stockholders for the new stock. It is reported that in many cases stockholders paying their subscriptions in full, although the re- qurement is for the payment of only SO per cent installment andl the time for the payment extends to June 27. The settlement of the mem bership of the anthracite conciliation board all so helped Pennsylvania as 1t did the coalers. notably Reading. A reactionary tendency In the grain and cotton markets was favoring fac tor and especially effective in Atchison Missouri Pacihc's statement of near earnings for April showed an increase of some 24 peT' cen. over those of the preceding April helped the Southwesterns. The bidding up of Wabash was based rumors that the Gould -Pennsyl- vania interests had been harmonized but the | abrupt relapse in the stock gave the rise an appearance of manipulation. Colorado Fuel and its convertible bonds suffered violent declines ! and only partial rallies on account of the pub lished reports of a delay in payment yesterday of obligations falling due. o5scially explained as due to a misunderstanding. Realizing during the last hour completely wiped out the days gains except for a point saved for Pennsyl- vania and the closing lifeless and heavy. The movement of bonds was irregular in sym pathy with stocks. Total sales par value S2. Os0. 900. U. s. 3s coupon advanced h per cent on the last call