The Montgomery advertiser., 1903-06-23
WALL STREET REVIEW
ATTEMPT TO PUT UP PRICES IS
 ABANDONED.
Scattered Liquidation From Various Quarters and Rather Acute Weak ness Causes the Drift to
 be Downward.

NEW YORK June 22. There was a briefly entertained purpose this morning to put up stock market was allowed to drift for the rest of the day. Scattered liquidation from vari- few stocks caused the drift to be downwards and the closing easy at the lowest of the day and very dull. The news of the day was not favorable to rise and tho early attempt to put up prices seemed to be manipulative and designed to contest the effect of the poor bank statement of Saturday. The announce ment of gold exports was the signal for prices to turn downwards. The outgo of gold also gave renewed effect to Saturdays bank state ment and the weather map for the day being unfavorable for the and cotton crops well as for the harvesting of the Winter wheat crop was added tG the depressing in fuences No plausible explanation is forth comh of the discrepancy of over S3. ooo. 900 statement and the known movements of money for the r'eek. So far as can be learned the making withdrawals of their deposits was without warrant The engagement of S2. 50o,- GOO of gold for export to Germany and France tomorrow came as disagreeable surprise to the small speculative element in stocks. which counted upon cessation of exports rate last Thursday. But discounts have har- dened in London and the price of gold was cline in in sterling i @ at Berlin and Paris marks the process of withdrawal of French and German capital from London. It is evident also that those centers calling home re- sources from New York the avowed pur- pose of the authority of the Imperial Bank Of
 
 while protesting confidence in the soundness of the American situation Tn spite of the pro- longed decline in stocks expresses the opinion that there will be for while a sackening of all kinds of business in the United States which will make money more abundant ana cheap in New York and will enable the French and German banks to decrease still further the balance they are employing here. This weeks steamers also are the latest by which remittances can be made for interest and dividends to foreign holders of our eecuri- ties due July l. The stock market at pres ent Is sensitive to the chance of the corn crop, the acreage for which is now being finally decided. The days unfavorabie developments for the crops as indicated by the strength both in the cereal and cotton markets was perhaps of equal influence with the gold exports in depressing stocks. Only one or two Of the principal railroad stocks lost as much as point. Pennsylvania and Reading represent ing the coalers and Illinois Central, the cot ton carriers. International Mercantile Ma change, was weak the curb on account of the announced determination of the Cunard Company to act independently of the combi- nation in making rates. Criticism of the sta tus of the combination is playing an impor- tant part In causing the current suspicion or the financial situation here on the part of foreigners. Steps taken in various judicial proceedings in minor industrial corporations was a contributing influence to the depression Special pressure d.. .e:ed against Colo rado Fuel Metropolitan Street Railway the Securities Company, the Union Bag stocks and Leather preferred. The total transac- tions fell to near the low level of the year.
 vaiue), Si .405, 900. United States new 4,s registered declined A per cent. on the laSt call
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