The Montgomery advertiser., 1903-06-04
WALL STREET REVIEW
PRICE LEVEL LIFTED sUB-
 sTANTIALLY IN AFTERNOON.
But When the Professional Element Began to Take Its Profits the Gains Melted Away-Bonds
 Are Firm.

NEW YORK June 3.-The recovery again today by the stock market from an op n.ng bad news of the day seemed to give a f. esh demonstration that q staple basis of prices had been reached and after midday the price level was hf,ed quite sub stantially. But when the professional operators commenced to take their profits In the last hour of the ses- s:on the days gains melted away in short The opening settcak due to the reported threat of strike by the anthracite coal min cept the miners representatives on the con- ciiiation board should be rescinded The re- sulting decline in prices reached point or for other leading representative railroad stocks. St. Paul. which continued to be &C., cepted as the index of the market of E.
 It became manifest at the decline that the short Interest was allowing itself anopportunity to cover and at the same time support was in fessional traders. seeing the direction of things. commenced to buy and bid up stocks in an, effort to take away the market from the group from yesterdays break helped the move ment. St. Paul was carried Az last night in the course of the movement. Many other gains of point or more were achieved before the final setback occurred The com ment by officials of the coal roads on tho spirit and apparent willingness to negoti- ate the dispute and on this the coalers made vigorous recoveries. The improvement in the Western weather situation and the subsistence of the floods taken encouraging fea- lures and had added force by of the sharp reaction in the grain markets. The heavy engagements of gold for outgo tomorrow ses med to be ignored the call money mar ket continued very easy. The enlargement Of
 gold for France. Germany and Canada fer
 the day amounted to considerably over S5.ooo.- 900. Although the call money market was not affected, there was hardening tone in the time money market rates for six months, rIs- ing to per cent. and for eight months to 5h. There was a slight reaction also in foreign exchange and this was said to be due to some offerings of loan bills which the advance in | time money made profitable Exchange bank | the gold shipments which were clearly in H. gudation of maturing foreign indebtedness. | The sterling market steaded again before the close. There was a decline also in the sterling rate at Paris which served to in- crease the margin of profits fin gold exports. | There was some selling of stocks for Boston account and reports that loans were being called there. New York exchange at Chicago however advanced to 50 cents premium.
 The outlook in the money markets may have induced the renewed selling of stocks in the | last hour which covered on Pennsylvania. car l rying that stock down to parity with the low level of the movement at i25h. Prices broke to below last nights level all around. but steadied slightly just at the close. Sev- erai good reports of railroad earnings and a sharp recovery In the London copper market The bond market was firm and the new Rock
 Island 5s were lifted points. Total sales
 (par value), S2.4S5, 900. United States 2's coupon advanced ia per cent. and the new
 4'c coupon declined Y per cent. on the last call
 New Folk stock List.