The Montgomery advertiser., 1905-02-02
WALL STREET REVIEW
SHIPMENTS or COLD MADE OCCASION
 OF SELLING.
Taking of Profits on the Feverish Advances of tho Day Before Obviously
 Motive for Some of the

New York, Feb. 1.-The heavy engage | ments of gold for export to Paris tomorrow were made the nominal occasion for sell | ing of stocks today, but taking of profits | on yesterdays feverish and volatile advances was an obvious motive in many parts of the | list. The weakness of these stocks was offset by strong advances at other points accord' 1 ing to the usual method of supporting the l market to facilitate the taking of pr fits in favor by professional operators But the not very striking advance in su>h storks as Reading and Missouri Pacific amongst the usual favorites even supplemented as 1t Naa by the rise in lengthy list of speeialties proved poor substitute as stimulating ef- feet m favor for years movement in the Vanderbilt. The mass offered to the market for di- gestion proved under these circumstances somewhat heavier than conld be comfortably absorbed and the prevailing tone was heavy. An outgo for a single day of upwards ut $9, 900, 900 in the precious metal and :hc slight impression coused by sthes enorlaions supply of exchange on London are impress i've facts The unsuitable demand of the Paris market for gold is the more notable in view of the rapid recuperation of London's supply, that capital haTing received g. c00.- 600 from Egypt and the largest single con- signment ever received from Cape Town within the past week. Yet the principal de- mand from Paris continues ta be diverted upon New York. It is eTident that the only change in conditions that is likely to put & stop to the movement will be an advance in interest rates which will affef a sufri- Ctent in3uCement 10 kGep tne Eofh aI hoHl0s rather than send 1t abroad to secure the additional advantages offered shere.
 The entire lack of any effect on local money rates thus far except fer a slight hardening in call loan rates late toda3. leads to estimates that seem extravagaat of the extent to which the uovemeu nay go. Quite as influential a factor sii the stock market was the action os the van- derbilt shares and of the more sober con. sideration given the recent rumors regard ing a wholesale consolidation Of that Rtoup with the great Hartman properties.
 Yesterdays action toward the coacentra- tlon of operating control in ths Vanderbilt group and the known extension of Rocke- feller holdings in New York Central vhiie of admitted importance in the standing of these securities not felt to be sufficient to explain the violent movements in the group.
 The rise of 25 points effected yesterday fin Chicago, St. Paul, Minneapolis and On1L ha which was partly lost oefors yesterdays closing was completely yielded at one time today on transactiOns as, small those of yesterday. Its parent stock, Northwestern and New York Central, were also subject to the pressure to get out at the higa levoi Of prices. There was no difference of opinion as to the favorable showing of the quarterly report of the United StateslSteel Corporation but its securities were also subjected to a natural process of realizing, with the good news all public. The strength of he IccaI fractions seemed to be associated with a threat of a strike by subway employees The wide movements in specialties wers not af- fected by special news developments The halting and irregular tone of the market continued throughout.
 Bonds were irregular Total sales, par value. S5,s55,0o0 United States bonds were all unchanged on call
 ~WeVn xynnNr Srn.x.--