The Birmingham age-herald., 1903-09-09
STOCK MARKET IS
 UNUSUALLY DULL Total Volume of Business Dis
 appointingIy Small THE UNOERTONE IS FIRM Buying of AtchlsOn Resumed and There Is Some Activity Shown By
 the Paeifics, Rock Island
 and Wabash Preferred.
THE UN0ERTONE IS FIRM

New York, September 4-Unusual dull ness even for this period of the year char acterized today's stock market Elements of interest were entirely lacking and the volume of business was disappointingly small in view of the triple holiday and the apparent intention of tfie secretary of the treasnury to relieve any strain on the fall movement of currency.
 Opening prices reflected a firm under tone, local traders taking courage at the higher range for American in London Last weeks buying of Atchison shares was resumed and some activity was shown by Canadian Pacific Southern Pa- cific. Rock Island and Wabash preferred The buying of the Pacifics was reported to be for foreign account, London being a factor in the days operations, trading in about 20,000 shares Commission houses took virtually no part in the business of the early day. The list sagged generally after the first hour, all the active stocks losing their advance and at times there- after the market was absolutely inert ], Here and there where stocks were pressed for sale prices yielded readily; for in- stance, Reading which was sold for Phil adelphla account.
 The early afternoon brought a move ment Tn several of the specaltles, North American advancing 21s, Colorado Fuel F. and Consolidated Gas Ii. No signi- ficance attaches to the advance in these shares. Some of the early selling of Amalgamated Copper was traced to houses with Boston connections. The stock closed at the lowest figure of the day in spite of an advance in the price Of the metal at home and abroad.
 In the final hour there was some short selling of such stocks as St. Paul. Atchi- son. Rock Island and western groups generally and Brooklyn Rapid Transit induced in part by reports of labor trou- bles on the Lehigh Valley system. The market closed dull and heavy. Some ex- cellent railway earnings were reported, notably St. Paul, which showed a net increase for July of over $260 000 New York Central, Norfolk and Western, Mexican Central Texas and Pacific and some of the minor lines also showed ma terial gains in gross earnings.
 The feature of the foreign exchange market was the appearance for the first time this year of bills covering shipments of spot cotton. These did not appear, however, in quantities sufficient to weak en rates for exchange, which held firm at 4S6. 50 for demand. But the very fact that such bills were released was taken to mark the beginning of larger export movement for that staple. Exchange brokers for weeks have been looking for ward to the inauguration of this move =ment as affording the best basis for de- pressing the sterling market to level where gold could be used as form of remittance. Locally the monetary situa- tion was unchanged. Additional gold inn ports from Australia were reported and further payments for account of gold de- posted at San Francisco were made by the sub-treasury.
 The bond market was rather quiet and showed some irregularity in the early dealings. In the afternoon, the market stiffened up and closed steady, despite the heaviness in the stock market Total sales, par value, s1256,000. United States new is advanced 4 per cent and the 2s % per cent on the last call.