The Montgomery advertiser., 1903-01-23
WALL STREET REVIEW
DRIFT OF PRICES LIsTLEss AND
 HESITATINo.
Reflected Nothing More Than the Shifting Whims or Hopes of . the Room Traders-Venezuelan
 News Checks Advance

NEW YORK. Jan. 22-The drift of prices m today's stock market was still ustless an nesitating and reflected nothing moe than the shifting whims or hopes of the room trad CTS, whose operations absorbed the total Ieai-
 ngs. Yesterdays late advance met rathe. a positive check this morning in the news 1. om Venezueia of a renewed attack upon the fort at san Carlos by Gel war vessels. It Is believed the least consequence of this must be the oostructing of the progress of the settle-
 ment of the dispute between Venezuela and the powers, which has been a source of uneasi- ness in the secu. ities market since it be- came acute The reports from Washington of a positive attitude of disapproval of tn latest step on the part. of the American Gov ernment offered the possibility to the imagi- nation of traders of more direct complications on our own part in the quarrel It was evil dent however, that more serious view of the situation In its effect upon American se- curit. es was taken in London than here and the declines affected there in American stocks the opening. The London selling was not tirely checked. even when pfces receded to below the Lsndon par ty. It was not until after the local market made any effective recovery.
 The London selling of stocks created a demand for exchange which stiffened the prices of bankers bills and reawakened the gold
 port question. There was also a f. act onal reaction in the p, ice of sterling at Paris. but
 favorable Bank of England return aroused dis cussion of D obab!e decline in the bank rate ct an early day. The Bank of France also re-
 nected ga n of about million dollars in gold
 for the week and a large contraction of note
 issues and repayment of loans. Exports de-
 mand for g. ain meantime continues large in
 spite of . rise in price of wheat and affords a
 good supply of exchange bills. The pr ce of
 American eagles also fell a fraction in the
 London market today. Some special weakness
 was shown by the New York public utilities
 owing to the agitat on of the franchise tax
 question and the difference of opinion dis
 closed as to the application of the adverse judicial decision to the law a whole. The d. ines, from last night ran from l to lh fl th, specu' ative leaders during the morning weakness. The late recovery in prices was largely connected with the ant cipation of . dividend increase on Northern Securities. the directors of which went into session early in the afternoon Act ve buying and a sharp advance in Northern Securities the curb and a 3point rise in Great Northern in the board room was taken as corroborative evi- dence. The 3-point advance in St Louis and San Francisco. though unexplained by news. was . sustaining influence the market There was a rumor that the road was to pass to the control of the Southern Railway. The professed expectations on the Northern Securt- ties div dend from yearly rate of A. per cent. to $ per cent. a lump extra dividend. The declara ation of the ih dividend not announced until after the market closed. The closing was steady, but very dull.
 bonds were dul and irregular. Total sales (par valuel, S2. o7o 900. United States bonds were unchanged on call
 .