The Montgomery advertiser., 1903-10-14
WALL STREEl REVIEW
 >- us. MARKET PASSED THROUGH A NUMBER or 42HAsEs. Al Lo7don Was Inclined to Take ia More Cheerful View of sJ the Financial Out
 look.

NEW YORK, Oct. ia.-Today's stock mar kee passed through . number of phases and ended the day in nearly stagnant condition last night's level. The market endowed tfs period of decided strength during the early part of the day when the selling pressure. to Ss entirely withdfawn. Al ofssnissd party of professional traders made an attempt te start prices upwards. perceivtng number of shs rns os msns sU'k a m ssso
 the building up of . large short interest. whieh gave evidence of its existence by an eagerness to. borrow stocks for delivery. causing . nun- Der of industrials to command . slight pre- mium for that purpose in the loan crowd. Lon- don was Inclined totake . more cheerful view of the financial outlook and felt somewhat and decidedly % over the absence of trouble in the progress of the Stock Exchange settie- ment Buying for the new account in London and on thsse terms 1sndon wss disposed :te buy a few stocks here. But the most fmpor. taht effect of the London position was its ret were inclined to attach importance to sons very large and concentrated buying of United States Steel preferred. which was noted yes terdsy and gave rise to report. s of very & in., quence. recovered to 60 and inspired hope that it's downward course had been arrested at last The importance attached to the ship building case was indicated by the good eff feet of a rumor that . suit was to be adjust ed and discontinued. downward plunge in United States Steel preferred to S1k the low est price on record, had c chilling effect on the whole movement and caused . reactionary tendency. The selfing of the stock was aso- ciated with the renewed stock market furry in Pittsburg and 1t was rumored that the steel preferred offered in the market came out of collateral for q loan which was affected by the Pittsburg money troubles. A 3-point break in Westinghouse Electric and . drop of ii in the first preferred were supposed to Ind their origin at the source. The slump of 2 points in Colorado Fuel had no news to explain 1t, but 1t was supposed to be connected with a speculative accumulation of this stock. while its control was still disputed. AS . minority stock, the demand has 90 far fallen on as to offer little market for . forced sale. The railroad equipment companies were still no- tably weak under the influence of the official admissions of large measures of economy by the great railroad systems which are expected te become general throughout the railroad world. sale of old Rock Island stock at a decline of IS points attracted some attention, The break in Canadian Pacific at the close was attributed to orders from Montreal. The Wes- ern demand for currency is still deferred and New York exchange at Chicago went to t5c premium. The money market is, correspond- ingly easy in tone. but bankers maintain q degree of caution on the possibility that the demand. though late. may still come up to the normal. ->
 outside of the fluctuations in steel bonds. the bond market was narrow and unimportant. To- tai sales (par value) S2.s42. 900. United States 2s advanced # per cent on the last call.
 New York Stcck Last.