The Montgomery advertiser., 1903-09-04
WALL STREET REVIEW
DEAD LEVEL OF DuLLNEss
 MORE PRONOUNCED.
Yesterday There Was Quite Liberal Profit-taking by the Buyers of
 the Day Before-Bonds Irregular.

NEW YORK, Sept 3.-Today's volume of dealings was not greatly below those of yes terday. but the dearth of interest in the market and the dead level of dullness was more pro- nounced than at any time heretofore. Yes terday's upward movement of prices was pretty promptly halted after the market got started and there was quite liberal profit taking by yesterdays buyers. The decline was not far extended and only a few of the principal &C., tive stocks were depressed as much as point. Reading was notably under pressure, the sell ing was supposed to be unloading of some pool holdings taken on in anticipation Of rise Tn the price a result of the favorable annual showing by the company. As matter of fact, the consideration of the past heavy earnings by the anthracite carriers has generally given way to the effect of the discussion of the ac- cumulation of steam sizes of coal followed by the shutting down of some of the colleres and some of the suggestions of a curtailment of the production. The principal event of the day in the finacial world was the advance In the Bank of England discount rate by full 1 per cent. from 3 to 4 per cent This Is one of the GUS tomary measures to oppose outward move ment of gold. The advance is not unusual in the Fall months, but is generally delayed later than this. But the drain upon the Bank of England gold supply has become so consider able as to suggest the interposing of some oo- stacle Over S4 900 900 was taken from the bank today and of this S3 500 900 went to Germany. which is the principal source of the drain. The London market was decidedly de- pressed in consequence of the advance in the rate. the price of consols falling lower than during the Boer war. The depression reflected in New York from that source. however was but slight and sales for London account were small. This may have been due to the fact that New York is likely to join in the demand on gold before long. Our foreign exchange market responded to the increased bank rate in London but our money market was prac- tically unaffected. The heavy liquidation in the cotton market was due to the complete surprise at the condition of that crop reported by the Agricultural Department and this was a naturally favorable influence upon stocks The effect. however. was scarcely perceptibie The continued frmness in the iron market at tracted more notice The slump in Colorado Fuel was the consequence of the passing of the dividend on the preferred stock and the heavy requirements for additional capital winch are impending over the corporation. Metropolitan Street Railway reflected the continued unfa- vorable view of the significance of the turn ing back by the underwriting syndicate man agers of their holdings of the stock to the dominant interests in the property. The market closed heavy about the low level.
 The bond market was very dull ana irregu lar Total sales tpar value). Sl,ooOo ooo United States 2's advanced F and the new 4 s A per cent. on the last call.
 New York Stock List.