The Montgomery advertiser., 1903-04-04
WALL STREET REVIEW
HEAVY SELLING MOVEMENT
 FOLLOWED BY COVERING.
Scramble of the Shorts Leads to a Lively Rally. and the Close Left Prices Above Level of
 Night Before.

NEW YORK April 3.-There was another heavy selling movement in the stock market this morning which apparently over-reached the mark judging from the scramble by the shorts to cover during the last hour when the supply of stocks had become scarce. This led to lively rally and a general recovery of was not we'll held however, owing to evidence or renewed realizing and the satisfaction of the more urgent demand from the shorts. As the result the closing was easy and below the top level of the rally. The appreciable relaxa- ton of the tension in the money market and a commence that the factors at work would bring still further relief next week were the domi- nant influences in the rally. The morning sell violent break in southern Pacihc to 5s4, which aroused fears for the position of the pool The apparently endless stream of liqui- the market afresh. carrying the price to a new low level on the movement at 35. The Fri day requirements in the money market kept up the call money rate early in the day and there were appearances to warrant the assump- ton that the banks were assuming an ad- monitory attitude toward the speculative pools In way which might account for some pf the selling. The extreme which has been reached in the personal antipathy growing out of the Southern Pacific quarrel gives color to the re- port that the weapons employed extend to the influence of the supply of financial resources which are employed by the pool in the stock market. The fact that the Southern Pacific books closed tonight for the annual meeting indicates the ending of the struggle for repre- sentation at thet meeting. The demand flor hne SUCK IS hkeiy to De aHecteu ss u conse- quence. Its movement became very feverish in the late dealings during the rally in the market and in It's rise to 6oi1 there were several wide price changes. A rumor found currency at the same time that a prominent fnancier. whosr services have been called upon to settle more than one threatened financial contest had been induced to adjust the difference amongst the Southern Pacific shareholders The feverish relapse in the stock sufficiently indicated the scepticism with which this rumor received. The. notableN feature in the late strength was the Brooklyn Transit, which lifted 2S last night. The movement was attributed to traffic to some general predictions for the betterment of passenger traffic in Brooklyny Amalgamated Copper weakened on the slump in the London copper market and a further marking down of the metal in the New York Metal Exchange. United States Realty suf- fered from strike talk. Tennessee Coal sold on the reduction in the price or pig iron by Southern furnaces. Colorado Fuel extended its recent decline. The weakness Of Sugar was attributed to unsettled trade conditions. The preliminary estimates of the weeks cur rent movement indicates a small gain on bal ance from the interior. but the losr to the sub treasury of sl.567. 900 and a shipment of the net decrease in cash a million and a half. The shifting of loans incident to the April l settlement will greatly confuse the showing on that item The confidence that the usual seasonable factors at work for the replenishment of the local money market. probable showing by the banks.
 Bonds were irregular Total sales (par value), S2, 67o. o0o United States bonds were all un- changed on the last call.
 New York Stock List.