The Montgomery advertiser., 1903-10-15
WALL STREET. REVIEW
PROFESSIONAL TRADERS WERE
 IN EVIDENCE.
The Strength of Early Dealings Was Helped by Higher Range in Prices in London--Some
 Stocks Weak.

NEW YORK, Oct. i<.--Atternpts on the part of professional traders to advance stock prices today were disturbed by . number of weak points in very much the same manner as yes- terday. The advances which were achieved were in consequence. generally wiped out and the last prices were below last night . rule. by the higher range of prices in London where the financial community felt great encourage ment over the prospect of averting hostilities between Russia and Japan. The stock market day and market values of crucible steel preferred went far towards repairing the dam age done by yesterdays panicky break. The preferred. which broke that stock in yestefday's 6 market was relieved in consequence. The of- hciai denial of some of the disturbing rumors trial corporations indicated the activity of bear manipulators in disseminating the rumors and prompted to some recovery The break in the Canadian group of stocks offered the first in- terruption to the advance and served to add to the anxiety caused by yesterdays rumors of financial difficulties in Montreal. The effect on the general list was not very marked and attempts were made to contest the reaction. The market was without animation. however, after this development. Later in the day the weakness of Amalgamated Copper overshad- owed the whole situation. This stock was lift ed a point in the early dealings and reflected quite an active speculation based on tomor- rows dividend meeting. The late break to s3N. a low record for the stock. caused all
 
 action. The weakness of the American Smelt- ing stocks seemed to be associated with that of Amalgamated Copper The violent break in the American car stocks toward the close also had an unsettling effect. The common fell 3N and the preferred 4h. The premium com manded by these stocks In the loan crowd this morning indicated over-extended short &C., count and the covering by the bears rallied them in the early market. The effect upon sentiment of the later break was correspond ingly greater, owing to this supporting in- fuence of the market. No news developed re- garding the property. Several attempts were made to rally the market after the various points of weakness had developed. One of these took the form of a bidding up of the Vanderbilt group. This seemed designed to give the impression that the leading members of the family in control. newly returned from abroad, was buying the stocks. But their sub sequent release pointed to the movement as a traders device. There was a buying move ment at one time in Reading also. The re- sumption of the hearing in the United States Shipbuilding suit seemed to exercise de- pressing effect on the trading. The days re- turns of railroad earnings were generally fa- vorable, and the decline in imports and the corresponding beneht to the country's favor able trade balance reported by the Bureau of Statistics in the September foreign trade return indicated a favorable factor in the ex- change situation. But these considerations tion.
 United States Steel bonds rose E at one time. but lost practically all of the gain The bond market generally was unimportant. To- tai sales (par value), SI,e7oo0o. United States bonds were unchanged on the last call
 New York Stock Inst.