The Montgomery advertiser., 1903-04-09
WALL STREET REVIEW
BUSINESS FALLS TO A VERY
 LOW LEVEL.
Speculation as to What will Become of Holdings of the Southern Pacific Pool-Relaxation
 of Selling Pressure.

NEW YORK, April s.--Today's business at the Stock Exchange Aggregated barely sO0.o0o ivity. The fact that Friday is the date also for the expiration of the Southern Pacific pool confirmed the disposition to keep out of the of conjectures as to what the effect of this event will be upon the market at large. The possible event most dreaded is the throwing over of the large holdings of the pool following the expiration of the pool agreement. but there is well defined suspicion that the expert managers of the pool have. not waited until this time in falling market to protect them selves against the possible necessities of forced liquidation. The professional operators in stocks and the commission house cling to the belief that the clearing up of this uncertainty may lead to an awakening of activity in trad ing Each successive development in the South ern Pacific conflict and in fact in the general situation has given rise to . similar hope in each case thus far to be disappointed. The pro- fessional observers of the market have been confident that when the turn was effected from the long downward course there would be considerable vigorous upward movement The distinct easing of the money market yesterday seemed to give no relief from the pressure of liquidation. Today thre was distinct relaxation of this pressure to sell and effective support at some points where the selling was continued. but the market continued to hang in a sus- some stocks, 1t is true. in which there seemed to be some further liquidation but the mar ket leaders were free from this pressure and inclined to advance without. however. induc- ing any general response Yesterdays weak ness in the United States Steel stocks was sufficiently explained by the decrease in net earnings for the past quarter reported after the closing yesterday. The corporation's new per cent bond dipped to low record price on the curb this morning at SSk but Q com- plete recovery followed. The buying of the stocks on the exchange was confidently attrib- uted to the account of inside and syndicate in- terests such as have not been perceptible in these stocks for a long time past. This support had a good sympathetic effect on the general market The heavy selling of Rock Island. which was a feature yesterday, continued today of inside support in this stock also. Amalga- mated Copper was decidedly weak in connec- tion with the violent relapse of &1, 17s Cd per ton in London price of copper. There was some with the involved speculative condition in the coffee market. Prospects in the money mar ket were favorable, but an advance in the call loan rate late in the day somewhat chilled amounts from the sui8treasury since Friday and the movement of currency on the interior exchange is believed to favor New York. Much importance attached also to a report from Philadelphia that the Pennsylvania Railroad has determined to repay its $40 900 six month loan maturing in June with the proceeds of the first installment of subscription to its new stock. Wide declines in prices of dormant stocks were feature again of the market Northwestern sold at 17SA. compared with 271 share lots of Philadelphia Company and of La Clede Gas pfd were affected only at concessions for the first named of fourteen points and for the second named of 9A from the preceding steady Total sales par value. $1 395. 900. United States 2s 3s and old As advanced Y per cent The new 4s coupon declined 1h per cent on the last call.
 New York Stock List.