The Montgomery advertiser., 1903-02-18
STREET REVIEW
MOVEMENT OF PRICES CoNFUs-
 ED AND IRREGULAR.
Room Traders Have the Day Almost to Themselves-Wire Service Interrupted by the Re-
 cent Storm.

NEW YORK. Feb. I7.-The movement of prices or stocks to-day confused and ir- .ne I, state of mind of those who were trading. rms element was pretty closely restricted to sne room traders. The interruption to the wire serVce py the storm was given as one cause TOT the dearth of outside orders. but business trom t commission houses was at low level nnpHa, crom any source. The general approval ac- corueo to the petition of the governors of the stock exchange to make Saturday holiday m addition to the regular Monday holiday is sunicient indication of the small proportions or commission house business at this time as members of that class of business houses are eeet generally the first to oppose holiday, on sc- Industrial stocks had a rather promi- nent place in the trading to-day as they did yesterday. but their price movement was very spoety. The spectators who inaugurated tne movement in those stocks yesterday were inclined to take profits. This was ~onspicu- ousy evident in the United States Steel stocks ana in Sugar The operators seemed to be prompted by the new antitrust measures in Congress This indicates that yesterdays concerted movement to put up the industrial stocks was probably based upon the assump- ton that the program for antitrust legisa- hon bssn by & the present session of Congress had Amalgamated Copper was continued this morn- ing and that stock was lifted an additional it, but the later reaction of the market left only sna.I fraction of this gain. The rise of 2% in Tennessee Coal was based the in creased earnings disclosed by the annual re- port and the expenditure of these earnings on the property without any intimaton of early dividend disbursements did not seem to de- tract from the favorable influence. The seven point rise in Anaconda with a reaction of A was in sympathy with Amalgamated. There was notable demand for American Locomo- tive late In the day but its rise not full ly maintained Metropolitan Street Railway led further advance in the local fractions. which was not held. The rather active sell ing movement which developed midway of the session was prompted by the well defined mors that exports of gold being negoti- ated for Thursdays steamer. No official knowledgement of the truth of these rumors could be secured. but the refusal to dsclaim them by one or two prominent international banking houses gave color to the report. Ster- ling exchange advanced several points here but reacted a fraction of centime in Paris. The rates of time money here operate ob- stacle to the outgo of gold. London was light buyer of stock here to-day and the fact that part of the Erie convertible bond issue Is to go abroad promises a supply of exchange On the other hand the buying of grain for port to-day was rather light, thus restricting the supply of exchange The question of agreements of gold tomorrow for export Thursday is still open. Damage to property by the great storm of some influence in prompting the light selling. The market closed heavy at about the lowest
 There was heavy selling of St. Louis and San Francisco funding bonds. The market gener- ally was irregular. Total sales, par value, s2. 200 ooo
 United States old 4s declined \ per cent on the last call.
 Nmw York Hfnck TJak