The Montgomery advertiser., 1904-02-27
WALL STREET. REVIEW
READERS UNABLE TO CONTINUE
 THE ADVANCE.
Only Slight Gains are Established Despite the Efforts of the Pro- fessionals - News Develop
 ments Not of Importance.

New York, Feb. 26.-An attempt was made to carry the rally in prices of stocks. which set in yesterday, still fu.- fher today. Only slight gains were cs- 1ablished. and at the higher level the de- Knand dwindled to so near the zero point that the traders abandoned their effol ts to carry on the rise. There was some tn- crease in the selling pressure, but this did not develop 10 noticeable extent ur- fil the sagging from lack of demand mad already set in.
 The selling in fact had the appearance of traders ventures for fall after they had demonstrated that prices would not go up. Yesterdays rally had brought prices back to about the level where they left off Saturday, which evidently meas ured about the recuperative capacity of the market. New developments were not Of importance, but the current news in dtcated the continuance of some of the tlnfavorable features which have kept the market under pressure for some time past. For Instance, new steps were taken in the war of grain rates. both in the West and East, and in the Western field the cutting of rates showed signs of spreading from the field of grain traffic fo other classes of freight. It was re- ported that the anthracite miners delc- gates were starting for the convention with a determination to support the soft coal miners In their contention for higher carrying on a strike. There was a re- newal of gossip concerning the Northern Securities decision and assertions of its very unfavorable character notwithstand- ing the report of the presence of secret service officers in the Wall Street distri to ferret out any disclosure of the Su- premc Courts decision. These reports, If they were intended to deter the rumol mongers. failed of their purpose. Rail- road earnings reported made an unfavoI- able showing, both for gross and net, with the exception of a few of the south westerns. Atcnison, Wabash and Hook ing Valley represented the prevailing Downward tendency of net earnings in their January returns. The dealings for foreign account were small but the uh- certainties of the foreign situation were not without influence in the local market A periodical settlement is impending Tn the stock markets both in Paris and Bel . lin, and the violent declines which have occurred since these accounts were opan throws doubt over the possible result of the settlement. The promise of a further increase in the cash reserves of the movement failed to rally the market, as the piling up of reserves has reached il point which arouses fears that it repl C. sents decline in business activity, Tine dismissal Of an injunction in the com- plicateo copper litigation caused a spas modic recovery of the previous loss in Amalgamated Copper, but afforded small help to railroad stocks. The additional fire losses involved in the Rochester fire following so soon after the Baltimore disaster, was distressing influence. The active stocks show losses on the day of about point and the closing was easy.
 Bonds were quite steady, but dull and Beatureless. Total sales par value, $7bC- 0O0. United States bonds were unchanged on call.
 New York Cotton Futures.
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