The Montgomery advertiser., 1904-10-14
WALL STREET. REVIEW
DEMONSTRATION OF INTEREST IN
 sPECIALTIEs AND INDUsTRIALs.
Railroads for the Time Are Neglected, and, Although Animation Is Apparent,
 tho Aggregate of Traneae- s
 tions Is Not Large.

NEW YORK. Oct, 13.-There was q rath- CT remarkable demonstration of speculative interest in industrial stocks and specfaities today which was of doubtful effect on. sen. timent towards the market. sThe railroad stocks were allowed meanwhile to lie prac- tically fallow. The market had an appear snce of breadth and animation during the greater part of the day, but the falling off in the aggregate transactions shows that an active market for the industriais does not yield as large market results as the railroad stocks This was made more mark ed by the fact that the more important in- dustrials were also late in coming into to- days movement. showing more sympathy in the early part of the day with the drag ging and hesitating tone of the railroads.
 United States Steel preferred was a case in point in spite of the favorable statistics of production for September which made their appearance last evening. showing notable increase in the productive capacity of pig iron during the month. without. how ever ever affecting sns declining .,ssy tendency Of element in the continued strength today of the railroad equipment stocks. which also enjoyed the advantage of the more liberal cases that specific trade developments were advanced as a reason for the all-embracinx movement in the industrials The arsu- ment for their rise were that the stocks of this class have not hitherto shared in the prolonged advance in railroad stocks, aI- though the latter movement was avowedly based on improved general trade and indus trial conditions which should increase the values of all securities But such a stirring up of long neglected securities of question able value as that which took place today was the effect of a round suspicion of the health of the market as showing exhaus- tion of possibilities of healthy securities to keep up the sequence or rotation.
 the aax the s a sh sne Tsrsy which moved upward a point or more is given. the titles indicating sufficiently the many branches of industry which were rep-
 The iron and steel stocks and railroad equipment stocks generally; the National Lead and American Smelting stocks Sugar, Corn Products. Cotton oil, Mating, Grass Twine, Knickerbocker Ice. International Paper. woolen, Virginia Carolina Chemical and United States Rubber stocks: Interna- tional Power, Butterick Publishing, Nation al Enameling and others which were traded in after Yong inactivity, but which did not move widely. The local traction stocks. which were notably strong. are classed usually as specialties also. The dropping tendency of the railroad list seemed to be due as much to the unsettiement by the prominence given to low grade stocks as to any news unfavorable to railroad values. The annual reports of the Great Northern and Wisconsin Central railroads showed rather formidable, expansion of operating expenses in connection with shrinkage of earnings, but singulary enough these stocks almost alone in the railroad list in showing any considerable advances. Re- ports came to hand of the sale of several new issues of railroad bonds which was considered indicative of improving financial conditions.
 Money also continued easy with the pros pect of a more favorable bank statement this week. The sub-treasury has contrib uted to the local banks already this week S5,954, ,0o0. including yesterdays payment on acc punt of Australian gold. The market closed irregular.
 Bonds wee strong. Central of Georgia incomes made sensational advances. To- taal sales, par value. $s.7sO, 900. United States bonds were unchanged on call.
 KANSAS CITY LIVE STOCK.
 KANSAS CITY. Oct l3.-Cattle-Receipts 13,o00, including 1000 SoutherEs. Steady {, 10c higher. Choice export and dressed beef steers, 5.0006. %: fair to good, { 4.090 5. %: Western fed steers, 1. .006 5 .50; stock CTS and feeders. 2. 2.25@4.15; Southern steers. 2.5093.50: Southern COWS, 1.50Q2.75; na- tive COWS. 1.50 a 50; native heifers. 2.50 Q4. 50; bulls. 1 IS G3. .25; calves. 2.50@6.00.
 Hogs-Receipts. 5000. Market 5c high CT Bulk of sales. 5.00@6.5e; heavy, 5 AS @5.T6; packers. S.2 .45; pigs and lights, 4.75W5.20.
 sheep-Receipts. 6,200. Market 5@10c higher. Native lambs. 4.00@5.25 native wethers 3,2593.sO: native ewes, 5000 3.35 Western lambs. 4.0065.25; Western yeariings. 3.60@3.S5: Western sheep. 3. 25 o 8. 80, stockers and feeders. 3.50G5.0 00
 NEW YORK STOCK LIST.