The Birmingham age-herald., 1903-04-27
PROFESSIONAL HAD MARKET IN CHARGE Outside Public Continue to Keep
 Hands Off LONGS ARE MUCH WORRIED Some st1ess Was Laid In the Gossip of q ke Street Upon a Fear of Situation Created By
 Russia's Demands.
LONGS ARE MUCH WORRIED

New York, April 25--Todays stock mar ket gl lave abundant evidence that the pro- fessibnal traders had 1t entirely to them selves The outside public continued pro- fouhdly indifferent to the market The di9b position of the professional traders plhinly was to get out of their holdings of long stock. Some stress was laid in the aossip of the street upon a fear that the &ituation created by Russia's new de- knands in Manchuria might develop Gcrlsis But the government securities of the nations most interested, gave no in- timation that such crisis might become acute over Sunday. Of more immediate effect, was the renewed weakness caused in Metropolitan Street railway by the yelled intimations of matter for investiga- tion by the district attorneys office in. the affairs of the corporation. Metropolitan street railway itself dropped 8 points, Metropolitan Securities and the other local fractions a point or more in sympa- thy. The market was mostly a waiting one until the appearance of the bank statement which was regarded as favor able although the cash increase did not equal the maximum estimates of yester- uhS. Iuc iOdn ueCTeASe or 4,Oo5, ZUU con tributed to raise the percentage to re- serves to deposits, the surplus rising $4,- 977,S25 to Sl0,9S5,475.
 The greatest interest Is manifested in everything going to show the plans of the legal department of the government in the further prosecution of the provi- sions of the antitrust law The opening of a hearing by the interstate commerce commission of charges of suppressing of Aff tl... ,.sA has been interpreted by Wall street as an intimation that the coal roads would be the next object of procedure by the gov ernment. The special heaviness shown in that department of the stock list has been due to that cause. The present decided relaxation of the money market, due to the customary reflux of funds to the reserve centers between seasons does not obscure the issue of the autumn requirements for money and the inevitable effect of shrink ing bank reserves upon stocks.
 The returns to the comptroller of the currency under the recent call for con dition of national banks as of April g. are scanned with eager interest for indi- cations of the banking situation in the country at large. So far as received these returns show an average tendency for the country throughout towards a lower percentage of reserve deposits than was the case either on February G. the date of the last call or on April 30 last year the nearest corresponding date to the present call The financing of the Panama canal purchase is still an unde- telnnined problem in its effect upon the money and foreign exchange markets The excellent reports of the winter wheat crop and reports from all quarters of ac- tive and healthy business conditions have not been unconsdered but have not suf- feed to carry prices of stocks upwards The decision of the interstate commerce commission against the reasonableness of present rates from Chicago to New York touches speculative sentiment sharp ly owing to the importance attached to advanced rates for offsetting the increased cost of operating expenses. Bonds have fared rather better than stocks in spite of dull market. Some buying of bond issues and of 4 per cent railroad bonds selling below par has been noticed
 United States 2s and old 4s coupons de- clined Ii per cent. The 3s registered and old As registered # per cent and the 3s coupons s per cent The new As advanced per cent as compared with the closing call of last week