The Montgomery advertiser., 1903-05-15
WALL STREET REVIEW
ATTEMPT TO LIFT THE MARKET
 IS ABANDONED.
Despite Cautiousness of the Boart Room Traders, Stocks Were For Sale at the High
 Level.

NEW YORK, May I4-rhe board room trad CTS m stocke thought this morning that they up prices fin an exceedingly cautious manner
 They demonstrated to their own satisfaction snat stock was for sale at tho higher level
 % they save up the attempt to lift the mar ket. When they attempted to sell they found very ligh tdemnnd and a yielding maI ket
 boweye ,h traders are quite as cautious
 side as they find 1t very difficult to buy back
 stocks at the lower levels. During the last
 stock by tired holders grown disgusted with the
 iethargy of the market. This selling move
 men msnt was not of large volume. but It was
 stil Tn progress when the market closed mak-
 ing 1t weak and at about the lowest. The
 rather brighter view of things taken this
 morning was due. principally to the tone of
 leading authority in that trade Its statistics
 show that production Is going on at a tre- to be eciipsed by that for May Not with standing this the stocks reported were ap-
 pres,any nar,nd less @ on on May May than on Anil |. It large commitments for which they are still uncovered so that in the opinion of this a,i- thority a rush is bound to come But. 1t is added, Tt remains to be seen at what price the deadlock will be broken" The United states Steel stocks and those of independent companies were notably firm in response to this showing. But further price concessions In pig iron were reported during the day and its ,un,'a condition in the iron market had
 mornings report of a possible adjustment of the labor difficulty the Great Northern system was cheering influence But rail- roads In the Northwest were notably weak afterwards. St. Paul In fact. led the late decline with drop to lH below last night.
 The announcement of export shipment of
 COG. 900 in gold to Argentina was an un-
 favorable infuence.- taken in connection with
 other developments in the foreign exchange
 situation Although the open market rate dis
 count Is declining in London, the retention or the Bank of England rate was 0 disap- pointment. The lowering of the price of the goid in the London market from the level of the recent Did by the Bank of England was necessary to prevent the absorption cf the market supply for other accounts shows that the bank authorities desire to test their abil- ny to conserve their good supply in a normal market before venturing to reduce the dis count rate. A drop of centtne in the Paris rate Tor sterling and a fractional decline at Berlin showed soue renewed pressure upon London which increases the probability of fur ther exports from New York. The statement or our foreign trade for April was a dIsap- pointment. the increase in exports over that or last year proving to be only nominal while the value of the imports has risen nearly sl2,- ooo, Ooo with resulting reduction of the fa- voraole balance of trade The unremit ting activity in the cotton speculation conduces to keep alive the solicitude over the foreign ex- change situation.
 The bond market was quite broad. but ir- regular Total sales (par value), S2 $50 ooc united states 2's, coupon advanced H per cent. on the last call.
 New York Sf~ck List.