The Montgomery advertiser., 1903-02-17
WALL STREET REVIEW
NOTABLE sHIFTINa OF sPE0U'
 LATIvE INTEREST.
Railroad List Takes Back Seat and
 the specialties Come Forward. Movement in Industrtals is Not Concerted.

NEW YORK, Feb l6.-There was . notable sh'fting of speculative interest today from the railroad list into the specialties. Most of the stocks embraced in the days movement were industrials. but there were few railroad and shs usu sscks seyt8 % which @ aS not figure in dard railroad stocks were quite Arm, but this ras evidently due to sympathy with the ad- eial strength in Wabash preferred, which was que to buying by the interests which have TO- gently sustained that stock. The "a iroad list ume of transactions in 1t and for the slug yishness of it's movement. The industrial st stock: neeyr show the same bond ot sympathy stocks. It is not unusual for one of this class or stocks to move Independently upwards in dustriais which rose today aid no, 'yusS move in in ,ions were ofi.red for 6s ssfsnsth of each. was due to a Speculative theory on the part of the professional operators that the futil ty et I efforts to advance railroad stocks had been 1emonstrated by last weks events and that the industrials offered the only hopeful field Tor higher prices as the result of continued fla far as the news was responsibie for the days movement that in Sugar was due to the ad- vance in the price of the granulated product: per in London. in Leather preferred to re- vfved runnors of plan for funding the ac- enmulated dividends. and 90 on for other stocks As for general influences. there was no notable change in the situation. cali loan rates continued easy, but time loans were quoted fraction higher and there is a dis, inclination on the part of the leaders to put out funds on time at present rates. It is ex- pected that heavy corporate requirements in- cluding railroad bond and stock issues will make early acquisitions upon the money sup ply. The advance in sterling was checked here, but the rate declined in Paris and tho private discount rate there rose to g per cent, which was. perhaps. the most significant development In the money situation, It could not be learned. however. that any definite step had been taken toward the export of gold this week. Opinions were somewhat mixed over the effect of the severe weather in the West, but the decline which developed in the wheat mar ket indicated the conviction that tho snow covering provided for the crop afforded security for It's safety. The weekly statistics of raili- road traffic showed some improvement in the obstruction is still reported. The foreign trade statement for January attracted attention on account of the high level of the value of our imports which Is disclosed. The increase in imports continues to more than offset the re- newed increase in exports on account of the revival of the export of corn compared with last year. The net result is a continued de- cline in value of foreign trade balance in our favor compared with last year The mar ket closed dull and steady.
 The market for bonds maintained a steady tone. Total sales tpar value), See5. GOO United States bonds were unchanged on the las teall.
 NgW York Stack TisA