The Montgomery advertiser., 1903-09-02
WALL STREET REVIEW
TRADING FALLS INTO STATE OF STAGNATT0N.
Less Than a Quarter of Million of Shares Change Hands Dur ing the oay-Bonds
 Are Dull.

NEW YORK Sept. I.-Yesterday's increased volume of business cut in two today. the aggregate sales falling to below quarter of a million shares. The most or tnis asain was done in the first two hours of trading Prices of a number of the principal market leaders ran of in that time a point or more. Ihere was no important trading after that, put tne market fell into profound dullness ana neg lect and prices remained almost motionless The closing was lifeess and heavy. lhere was nothing in the news of the day bearing on the reversal in the direction of the prices or stocks. It was accepted simply as oeHon stration of the futility of the efforts or pro- fessonaf-traders to move prices upward 10 any large extent. A part of those efforts had con sisted in conveying the impression tnal ,h,, rne large financial inteersts were in sympathy with the movement. There were operations Tn today's market which were understood as m, tended to show that the large banking ana railroad interests felt no approval or these professional efforts to advance stocks. Brok- CTS were attempting to force declines during the past week and who were supposed to act for great financial leaders sold openly today. indifferent stocks around the room. This led to the presumption that 1t was intended to dis courage efforts to lift prices. An attempt to stimulate speculation on account of the emerg- ency relief held in readiness by the Secretary of the Treasury is felt to be unwise and there Is a feeling of disapproval of any course which would tend to create an emergency m the money market by expansion of credits TOT speculative uses. The tone of increased con fidence over the money market an account or the provision of an available fund in the treas ury ready for deposit in the banks Is, however, undisturbed. The time has become wholly nom inal owing to the lightness of the demand. Interior exchanges are beginning to move against New York; the discount at Chicago falling to 40 cents today compared with 20 cents per thousand yesterday. Interior banks which have been recipients of internal revenue pay ments in covering these receipts into the treas ury are doing so through the New York suo- treasury by orders on their New York corre- spondent. This is an indirect manner Of cur rency shipment to the interior Yesterday 2 views of the transfer of the underwriting syn dicate holdings in Metropolitan securities to other inside interests was decidedly modined today The rise in the local fractions yester- day helped the advance elsewhere and today sharp reaction in those stocks was Of corre- spending sympathetic effect. Wall Street was inclined today to regard the operation rather as a wtbdrawal of important interests rom the company than measure looking to TUT ther consolidation of interests as was the case yesterday. The weather bureaus weekly re- port was not conidered reassuring either as to cotton or corn and the wheat market also reflected bulish sentiment.
 The bond market was dull and irregular To- tai sales (par value), Sl ,205oOo. United States 2s new As advanced A per cent. on the last call.
 New York stock List.