The Montgomery advertiser., 1903-06-16
WALL STREET REVIEW
PRICES OF SECURITIES HAVE A
 DECIDED BACKsET.
Pressure Develops at the Beginning of the Session and the Level of Prices Sank as the Day
 Progressed.

New York. June 15.-Prices of securities nad a decided back set as result of to- gays trading; Pressure developed from the outset and with only occasional haltS and small fractional rallies. tn elevei of prives sank lower throughout the day and the closing was heavy at the lowest. The trading occurred have @ % lost ali n'H the i way ny from ? to points from Saturdays level anis includes the principal coalers. grang- question whether the market was on the eve of revival Of speculation for the advance was thus decisively. answered in prevailing. sentiment about the stock exchange into despondency and appre- tension There was no very important renewed decline but 1t was oreIous that me urgent demand from the uncovered short interest had become mostly satis- ned while the tnvstment demand had dropped out with sharp recovery. in prices from Wednesdays low level. There was some large selling early in the day snec,,aain w,Sn nhd the appearance of realizing on cured at the low levels. London took part in the selling and Western ware houses also sent orders on an important scale The selling. was not so large later m the day but prices yielded without re- sisting power and there was no attempt pereespttibie pes,s to support the market. The the motive of the selling and the extent to which liquidation may now be pursued cnssion sns qec1e' hd ne Most or the current dis uation which were already in force be- fore fore , the previous decline was arrested cnyn las, Innrsdagi rrnr The uncertainty over the in the satisfaction over the government report on wheat. came into play again to- day and the excited jump In the cotton gers gers of that crop; Last weeks feeling floods left that factor amply discounted tn thn ota tokt af railroad earnings for that region for sew eral weeks to come must show the large inroads upon traffic and then large ex- bv the floods. The assembling of the coal miners convention and the extension or the lockout in the New York building look.
 Money was easy. but sterling exchange recovered here and ran off sharply both there was close calculation over an ex- port of gold by toui steamer, keep ing alive expectation at this point. The
 stss of any The sat isfactory recuperation shown by the banks in Saturdays statement leaves the fbap fSplus reserye w st at ow level for disposition to await with great interest the compilation of the returns to the con tionai banks throughout the cuntry. % The inference from the foreign trade state ment for May. which shows a falling off in total exports compared with last year of over S2000.000 is that our exports of manufactured products are declining as tf,ehtsp the he1pc of agrieultgral products were
 The lie from London that a promi- nent anancier has booked a passage home for this week after authorized intimate had been given that his vaaction might be extended into August. was made use of by the professional operators with un- favorab ble effect.
 The bond market was dull but irregu- lar Total sales par value T.275, 900. Uni ted States bonds were all unchanged on the last call.
 New Y1k Stnck List