The Montgomery advertiser., 1903-02-03
WALL STREET REVIEW
THE MARKET SHAKES OFF SOME
 OF ITS APATHY.
Complaints of Commission Houses of a Lack of Business are Un- bated, However-Profes-
 sionals Control.

NEW YORK. Feb. 2.-The stock market showed some improvement today the ape tnetic condition of last week and the volume ot ueanngs rose to more than half q million shares. >Complaints from commission houses were unabated. however. of lack of business and, and the the market was called professionaI. A very large part of the activity both in stocks and bonds centered in the Pennsylvania curities As the par value of the Pennsyl- vania shares is only $50. the total shares dealt in should be divided in half to make the show ing equivalent to that of other leading stocks. me same is true of Reading shares. which contributed an important part of the days dealings. Pennsylvania promptly relapsed on the opening safes of I2.oOO shares to I5O, compared with I5i% on Saturday and hovered about that price all day with large dealings. The convertible bonds rose IN ct the opening. This seemed to represent an adjustment to the convertible value between tn two in cordance with the natice given by the direc- tors of the anticipation of the conversion privi- lege by year. Increased activity in the gen. erai market seemed to have no connection with the Pennsylvania movement The revival of strength in the Erie stocks had a consdera ble sentimental influence on the general situation. There was no news developed regarding the deal for the transfer of the road. but there was some suspicion that the large financial ances on Friday night have to do with Erie. The strength of Delaware and Hudson was directly associated with that of Erie. There was current belief that all of the coalcrs are making enormous earnings at this time, which helped Reading and Ontario and Vest ern particularly. St Louis and San Francisco continued its advance to it's high figure hut no information was given out regarding the expected disposition of this property. Quite number of leading speculative stocks rose a point or more at one time. The abundant funds offered on Friday and the easy tone Of call money this morning formed the basis of the attempt to put up prices. Today's move- ment was hardly more than tentative, but it was more vigorous and confident than any of the numerous professional tests for some time past. Among the days special movements Amalgamated Copper was conspicuous for rise of over 2 points. Prevalent opinion points to improved trade conditions and there talk today of large takings of copper by for eigners. There nothing to explain the rise in Peoples Gas except the declaration of a regular dividend The Venezuelan situa- tion was considered reassurng There was a good demand for foreign exchange and 1t was reported that money has grown cheap here that the bankers prefer to remit to pay of maturing foreign indebtedness. The days gains were not fully maintained and the closing was rather irregular.
 Pennsylvania convertible 3ta's made up the bulk of business in the bond market and lost large part of their opening gain. Wabash .iebenture Bs became very strong at the last. Total sales fpar valuc). S5. 5.7o5. 900. United States As registered advanced h and the 5's registered declined h on the last call.