The Birmingham age-herald., 1903-04-26
PROFESSIONALS HAD MARKET IN CHARGE Outside Public Continue to Keep
 RandS Off LONGS ARE MUCH WORRIED Some Stress Was Laid In the Gossip of the Street Upon a Fear of
 the Situation Created By
 Russia's Demands.
.0NGS ARE MUCH WORRIED

New York, April 25.-Today's stock mar ket gave abundant evidence that the pro- fessional traders had it entirely to them selves. The outside public continued pro- foundly indifferent to the market. The disposition of the professional traders plainly was to get out of their holdings of long stock. Some stress was laid in the gossip of the street upon fear that the situation created by Russia's new de- mands in Manchuria might develop a crisis. But the government securities of the nations most interested, gave no in- timation that such crisis might become acute over Sunday. Of more immedate' effect, was the renewed weakness caused in Metropolitan Street railway by the yelled intimations of matter for investiga- ton by the district attorneys office in the affairs of the corporation. Metropolitan street railway itself dropped points, Metropolitan Securities and the other local fractions 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- day. The loan decrease of $45S3, 200 con tributed to raise the percentage to re- serves to deposits the surplus rising $4,- 977,825 to s10985, ,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 competition by the anthracite coal roads 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 Il relaxation of the money market, due to the Acustomary ref1ux of funds to the reserve centers between Seasons does not obscure Nfhe 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 lhdn 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- termined 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 unconsidered 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 imp tance attached to advancedsrates for offsetting the increased cost of operating expenses. Bonds have fared rather better than stocks in spite of a dull market Some buying of bond issues and of per cent railroad bonds selling below par has been noticed.
 United States 2s and old As coupons de- Aclined A per cent. The 3s registered and lold 4s registered # per cent and the Ss 1eoupons % per cent. The new As advanced @6 per cent as compared with the closing call of last week.