The Birmingham age-herald., 1903-04-08
HARD ID AWAKEN
 SIGNS OF INTEREST Call Money Was Not Higher
 Than 6 Per Cent PUBLIC STILL HOLDS OFF Stock Market Is Weighed Down With Mass of Undleested Securities and No Prospect Is Offered of
 Relieving the Congestion.
PUBLIC STILL HOLDS OFF

New York, April 1.-The weakness which developed in today's stock market pore witness to the disappointment felt Ill speculative circles at the failure of what are considered favorable developments in the situation to awaken any sign of in- terest in speculation on the part of the outside public Call money was not mgher than per cent at any time and fell lower than that on enlarged offerings by the banks. There was some lending also by stock commission houses, which have sup piled their expected needs with time loans and have money on their hands owing to the practical stagnation of the commits sion business in stocks at present. The immediate money situation ceases to be a factor in the stock market. Great hopes have been entertained that the advent of this condition would arouse some spec uative interest in securities, and would afford opportunity to begin to move the undigested mass with which the market Is weighted down. Not much prospect was offered by todays events of any effective assimilation of the congestion of seeuri- ties, in which Is involved the embarrass- ing tie-up of credits which threatens the 1uIufe Iacllllleb Ol ln6 llollcy mar htA AiAS indefinite postponement of the Southern Pacific annual meeting was viewed in more encouraged spirit this morning, ow- ing to its insurance of the indefinite pro- longation of the present control of that property, but renewed uneasiness was felt over the position of the speculative pool fin Southern Pacific stocks. The extension of the pool carries it only to April To- and the suggestive weakness of the stock to- day had a weakening sympathetic effect on the market. There was heavy selling at other points in the list, attributed to the same source
 This development put an end quickly to an upward movement during the first hour, led by New York Central, which seemed designed as bull demonstration with the purpose of attracting the unex- pected outside interest. When this demon- stration was seen to fail in it's effect speculative interest became stagnant Re- ports of strikes at some of the collieries in the anthracite region owing to dis puted interpretation of the strike com missions award. had a depressing effect on the coalers. The sharp decline in the United States Steel securities, coming at the same time with a meeting of the finance committee of the corporation, had a decidedly unfayorable effect. Both stocks fell over a point and the new per cent bonds sold on the curb at s41a. The feature or the day were the wide de- clines amongst dormant stocks made necessary before a sale could be effected. Lackawanna was sold down points af- ter a preliminary rise of a point. Lake Erie and Western preferred and Cleve- land, Lorraine and Wheeling preferred each dropped points on single sales, Westinghouse Electric 4, Virginia Caro- lima Chemical company preferred 3s4 and New York Dock preferred 21a.
 The expected judicial decision in the Northern Securities case came in for considerable discussion in connection with the points left uncovered by the decision in the Southern Pacific injunction case, and the possibilities lying in the North ern Securities decision were believed to have a good deal to do with the weak undertone of the market
 Bonds were dull and irregular. Total sales, par value. s1.75O0O0. United States 3s coupon advanced A per cent and the 3s registered F per cent on the last call.