The Montgomery advertiser., 1904-11-16
WALL STREET. REVIEW
AND IRREGULAR MOVE
 MENT CONTINCEs.
Selling to Take Profits Mach in Evidence In the Majority of the Usually Active ~ Stocks Durinx the
 Morning,

NEW YORK. Nov ls.--The rcactionary and irregular movement of prices was no. pressure to take profits was much in Aevi dence, in the majority of the usually active stocks. especially during the morning. At inferior grade of industriais and railroad stocks of doubtful character kept the char acter of speculation one of suspicion. lr siderable reversal of interests to the stand ard railroad stocks. C0nspicuous atrer..x did not show in large number of stocks n9t ,,n, the representative character of those in which 1t did had revivine effect because sympathy on the general fist. Considerable progress was made in restoring comninica E9n '.,,r oy telegraph with the outside specu- assigned as the cause of the iessened Eac- tivity of the market yesterday. But the market failed to recover to high level of animation and the total of transactions for the day was not much changed from those
 The issues dealt in continued to show great variety and many stocks made their reappearance on the tape after a long in- terval There are many stocks Hated on the exchange or admitted for trading in the un- listed department which are practically dor mant except at periods of speculative ex- cItement when enthusiasm over the possi- oiiities for the enhancement Of values be- comes sufficiently great to accept the chances on ssecurieies whose value Is ex- ceedingiy probiematical There would be no propriety in specifying these stocks in
 
 transactions in detail on. the stock exchange at this time can distinguish many which are rushed up many. points in the course of . days trading with no change in their cir- cumstances to explain their sudden awak- ening. The bad effect was usually pro- duced on speculative sentiment by such . stirring up Of sedimentary matter Is be- cause 10 usually occurs in the later stages of speculative advance when the resources for further. advance in more substantial stocks have been depleted or exhausted. Rather moro consideration was given today also to tho money outlook. although there was small change in International rates. The tone of the money market. however, was called harder, The weeks gold outgo to. Cuba will be as large as expected Sub scriptions to, the Japanese loan. a forthcom- Ing offering of s2s.oo0. 900 of New York city bonds and today's sale of s25,o00, 900 of Chicago. Rock Island t& Pacific railroad bonds indicate requirements on banking credits. to be met The decline of nearly Slo.00o,o 900 in value of October exports of with which Europe is drawing American gold in the fall of the year
 The strength developed in a number of stocks was most explainable from special causes. Very specific rumors of an early impending decision in the Northern Securi- ties case was responsible for theS strength of the Hartman group. Rock Island was helped by it's bond sales The rise in the soft coalers was due to assertions that their dividend rate would be raised shortly Amai- gamated Copper enjoyed the benefit of . further rise in the price of copper. The early heaviness of the steel group and their late recovery were connected with the meet ing of the steel billet pool The rise in the Louisville z Nashville group was explained The desire to realize persisted to the last and the market closed decidedly irregular. Bonds were strong. Total sales par value. s1i. .s70. 900. United States bonds were un- changed on call.
 NEW YORK SHOOK LIST.