The Birmingham age-herald., 1903-10-15
STOCK MARKET
 STILL IN A RUT Attempts of Traders to Advance Prices Prove Failure ALL GAINS ARE WIPED OUT Pressure In U. 8. Steel Preferred Which Caused Break on Monday Was Relieved by Better Out
 look in Plttsburg.
ALL GAINS ARE WIPED OUT

New York. october 14.-Attempts on the mart of professional traders to advance stock prices today were disturbed by the development of a number of weak points in very much the same maner as yester- day. The advances which were achleVeo were consequently generally wiped out and the last prices were below last night as a rule. The strength in the early deal- ings was helped by the higher range or prices in London, where the financial com munity felt great encouragement over the prospects of averting hostilities between Russia and Japan The stock market sit uation at Pittsburg was. much improved today, and market values of crucible steel preferred went far towards repairing the damage done by yesterdays panlcy break. The responsive pressure upon United States Steel preferred, which broke that stock in yesterdays market, was re- lieyed in consequence. The official denial of some of the disturbing rumors regard ing the business of some industrial corpo- rations. indicated the activity of bear manipulators in disseminating the rumors and prompted to some recovery. The break in the Canadian group of stocks, offered the first interruption to the ad- vance, and served to add to the anxiety caused by yesterdays rumors of financial difficulties in Montreal The effect on the general list was not very marked and attempts were made to contest the reae- tion. The market was without animation, however, with this development. Later In the day the weakness of Amalgamated Copper overshadowed the whole situation. This stock was lifted a point in the early dealings and reflected quite an active speculation based on tomorrow's dividend meeting. The late break to 337, low rec ord for the stock caused all sorts of sur misses about tomorrow's dividend action. The weakness of the American smeltins stock seemed to be associated with that of Amalgamated Copper. The violent break In the American Car stocks towards the close also had an unsettlng effect. The common fell 3ss and the preferred AZ. The premium commanded by these stocks in the loan crowd this morning, indicated an overextended short account and the covering by the bears rallied them in the early market The effect upon sentiment of the later break was correspondingly greater owing to this supporting influence of the market. No news developed re- garding the property. Several attempts were ndue to rally the Ndfhel dlltf Ndri- ous points of weakness had developed. One of these took the form of a bidding up of Vanderbilt group. This seemed de- signed to give the impression that the lead ing members of the family in control, newly returned from abroad, was buying the stocks. But their subsequent release pointed to the movement as a traders de- vice. There was a buying movement at one time in Reading also The resumption of the hearing in the United States Ship building suit seemed to exercise depress- ing effect on the trading. The days re- turns of railroad earnings were generally favorable and the decline in exports and the corresponding benefit to the country's favorable trade balance, as reported by the bureau of statistics in the September foreign trade return, Indicated a favora- ble factor in the exchange situation.
 But these considerations failed to hold the late market against reaction. United States Steel bonds rose % at one time, but lost practically all of the gain.
 The bond market generally was unim- portant. Total sales par value $1,S7O,000. United States bonds were unchanged on the last call.