The Montgomery advertiser., 1904-09-02
WALL STREET. REVIEW
OPERATIONS AGAIN LARGELY hE-
 STRICTED TO PROFESSIONALS.
Trading Characterised by Some Indecision and Contrary Movements, Reading, for Several Days a Leader,
 Being Under Pressure.

NEW YORK. Sept. 1.-While the tone or today's stock market was firm In the ma II. with distinct improvement in numner ,o. o. issues. operations were again largely TOT professional account and in moderate Noi- ume. Trading was characterized by some indecision and contrary movements. keau ing. for several days market leader, belhs subject to pressure
 The governing factor was the crop situa- tion. concerning which a great deal or news mostly unofficial and of doubtful value. came to hand. Dispatches from the West indicated favorable conditions for maturing corn, and 1t Is believed that much Of that commodity is now secure from severe in- jury. General crop advices from the Cana. dian Northwest were of the same tenor yet reports of frost were effective in advancing both wheat and corn here. ,
 Unauthorized statements that the prevail ing prices for steel beams and plates would be maintained coupled with other trads re- ports of favorable character. helped 10 give renewed strength to the steel stoCks United States Steel preferred registered an. other advance. although the stock was soio here by London. That centre also LOOK profits in some of the other internationais
 Opening with an irregular tendency the local market soon made recovery under the lead of St. Paul The smart advance Tn this stock was aided by reports of the conn pany's agents telling of the rapid progress that is being made in the harvesting os crops. Other early features of strength Southern Railway. St Louis Southwestern preferred and the Rock Island issues sugar gained point on what was regarded as fn- side buying. There was renewal Of the previous days operations in Consolidated Tobacco bonds, but the buying was again strongly suggestive of manipulation The stocks of the affiliated companies were com paratively neglected. Metropolitan Securf- ties and Metropolitan Street Railway were conspicuously weakened but Brooklyn Rap i'd Transit held steady at an advance. Or ders for the minor issues of the Pennsyl- vania group came from Philadeiphla houses Amnlgamated Copper held firm during the early session spite of profit taking. The feature of the afternoon was touched 63 the highest level for the present movement. St Paul declined on the puhii- cation of the July report, showing heavy decrease In net earnings. and the balance ot the active list manifested reactionary tendency.
 In the late trading there was further buy ing of Steel preferred, Rock Island com mon and Erie. Steel preferred closed fraction below the top price of the day. hut the balance of the active list made more material concessions Developments in the money market were unimportant. mum ber of railroad reports were issued. chief among these being that of the Cleveland, Cincinnati, Chicago & St. Louis road for the year ended June 30 last, showing loss tn net earnings of over sss1.o00 St. Louis Southwestern reported a net increase for the Louisville & Nashville reported an in' crease of $211,500.
 In the Government bonds. old 4s register ed declined 4 per cent and tNe coupons Sa per cent on call. Railrc c bonds werc strong Total sales. par va,ue. sS,64h.00o. a market increase over recent dealings.