The Montgomery advertiser., 1903-09-18
WALL STREET REVIEW
INTEREST CENTER.s AROUND
 THE STEEL ISSUES.
Tn the Last Hour the Weakness of the Industries Group Became More Acute, and Prices
 Went Of.

NEW YORK. Sept. l7-Interest in today's stock market centered largely around the steel issues and certain other industrial securities. The crop situation,e concerning which further contradictory reports came to hand was of secondary importance compared with the impression conveyed by the further heaviness of steel common, which established a new low record of I8l1. There was little pressure against steel preferred and the per cent. bonds were steady compared with the previous days marked weakness. Another feature of the industrial situation which was not without influence following hard u5on the early weeks development in United States Realty was the showing made by the Standard Rope and Irvine Company. and the late break in Tennessee Coal. Under normal conditions prices in New York probably would have shown some advance at the outset if only from the fact that the Bank of England's discount rate showed no ad- vance. but persistent selling of Americans by London and the suspension of prominent Liv- erpol cotton house helped to produce an ir- regular opening. Buying of standard railway shares by brokers commonly supposed to rep resent strong interests together with heavy covering turned the course of the market up- ward before noon. Atchison taken In large amount by Western commission house and some of the Pacific stocks advanced der buying by brokers that have been p-omi nent in these issues recently. Brooklyn Tran sit concerning which many rumors were cir culated. was again irregular. Practically all of the mornings improvement was wiped out later when trading became dull and mar row and prices once more sagged. In the last
 
 came more acute, Tennessee coal selling off 4 points. and steel common touching the low figure of the day. There material losses in Republic Steel and Pressed Steel Car. The break in Tennessee Coal was not explained Some of the high grade railway shares par ticipated in the decline, which was followed by rally, in the course of which prices re- covered to a level approaching yesterdays close. Steel common made net decline Of ss per cent. and the preferred unchanged The market closed steady. It developed after the close of the market that much of the. sell ing of Tennessee coal came from a Philadel phia house and was said to be based on ad verse trade reports. Londons sales on balance were estimated to be 2o.0o0 shares and pur chases were normal. Foreign exchange sharply advanced to 486 25. due largely to a demand for bills to meet maturing 90-day loans. feature of the day the sale of 100 shares of United States Shipbuilding at S per share The sub-treasury made another shipment of which further direct shipments to the West and Southwest were reported. The banks have thus far lost about S3 900 900 as against gain of Sl ,46e. 900 in the same period last week.
 The bond market showed some slight irregu larity in sympathy with the wide fluctuations in United States Steel. Total sales (par value) s Si.42o. 900. United States 2's and old 4's ad- vanced h per cent. on the last call.
 New NGrK stock List