The Montgomery advertiser., 1904-11-17
WALL STREET. REVIEW
WIRES FAIL TO BRING THE EXPECT ED BUSINESS.
New York Market Also Sensitive to the Friction Between Russia and Eng land Over the North Sea
 Incident.

NEW YORK. Nov. fs-values of securi- ties showed themselves sensitive today to ,ne , renewed ,.,n, srsasinsss ,n London over n. tween Russia and Great Britain over the North Sea trouble. The uneasiness was aceentuatcd in London by news of . hostile collision on the Afghan frontier. But the special sensitiveness of the New York stock market to thAse rather remote factork was probably due more to disappointment that the gradual restoration of teiegraphic faciii- ties with outside centres failed 10 bring In the unexpected accumulation of buying or- ders which have been obstructed all the week.
 There was some vigorous opposition to the reaction at the opening. but the supporting tactics became languid when the iightness Se,vea. @ @ % fairis general general % reaction @ Followed. @ The later improvement in London sentiment and the termination of the days business for recoveries in the later market and there were number of strong features develop ed to help the rally. besides the violent movements in obscure specialties. which effect on speculative sentiment as a whole
 The action of stocks which were the sub tects of good news announcements was es- pecially disappointing in the early reaction. Atlantic Coast Lines melon cutting waa price. and Louisville ( Nashville. for which an augury of an increased dividend Is drawn from the Atlantic Coast Line dis bursement. was sharply depressed. The ad- vance in the price of steel biltets of S1 50 per ton increased the selling pressure on United States Steel and some of the other steel industries with resulting losses of a point or more. It is now c rule for ob- servance by professional traders in Wall Street to sell on good news But the re. cent absorptive power of the market has taught dealers to expect the accomplishment of such selling without making much im- pression on prices. News of general condi- tions offered nothing to warrant depression of values. The optimistic speech of the Sec retary of ahe Treasury at the Chamber Of Commerce banquet last night was much commented upon.
 The cancellation of over million doiiars of the intended gold shipment to Paris was announced. although most of this was re- engaged later in the day. The foreign cline of over ss0o0, 900 in the balance in our favor compared with last October. But an increase fin the total value of exports of over $2,000,o0o with the value of exports of domestic exports alone lower by s,early $10.- 100000 than last October indicates a growth in exports of manufactures of about si2.o0o.ooe In which the extraordinary With total exports of a value of s1s2.57o.- 3e3. the October figures are lifted above those for any preceding moath sincs oc- tober of 1900.
 The feature of strength in the market was Amalgamated Copper the local trac. tions and the subsidiary Pennsylvania stocks. The market ciosed easy with some stocks at the lowest Of the day.
 Trading in bonds was active and strong, but some of the active speculative issues were weak. Total sales. par value, $10,55o.- 900. United States bonds unchanged on call. NEW YORK STOCK HIST.