The Montgomery advertiser., 1905-03-04
WALL STREET REVIEW
FEATURE SHARP BREAK IN SOUTHERN
 IRON HOLDINGS.
Sloss-Sheffield Dropped from TOT to Ss, and Tennessee Coal and Iron Followed Its Lead, Former Recoyering
 Some at the Close

New York. March s.--A sharp break in the Southern iron stocks was the feature of today's stock market and did much to un- settle other stocks.
 The first sales of sloss- Sheffield, which closed yesterday at 1o7. were at ss Tenn points earlier in the morning to 94. but it began to decline sharply. following the leau of sloss- Sheffield. It sold down below ss sloss. Sheffield ss. Subsequently sloss- Sheffield made e recovery to 1o7m, but in the late trading the Southern issues again ran off. this time Tennessee Coal reaching the lowest of the day. There was heavy selling around 90.
 New York. March s.--A number of incl dents occurred today which served to up- set speculative sentiment on the Stock Ex- change and renew apprehension over the re,.to, reliability of h the May reports regarding for buying stocks for some time. Tne 1t was said. to an expected volume of self. ing for foreign account. The: unfavorabie news regarding the Russian position at the of q possible internal disturbance in the empire to take form on Sunday were sup posed to account for the weakness from pronounced in the Pacifics and New York Central The market showed good recup- erative force from the first decline and there were occasional recoveries and special points of strength served as a raiiying point for the rest of the market. But sem tinent was again unsettled by the unos- tation for single 100-share lot of Sloss- Sheffield Steel selling at ss. A second sale lowed. This is the one of the properties which has been reported as practically iri- sured for incorporation in the Southern iron ficial sanction that the organizers of the commission were to pay 12S for all of the outstanding common stock Many thou nh fhn afA the market on the Stock Exchange at prices which never touched the alleged figure asrsed agree , 9p1n for aDsorPt,on' l put which did yesterday at 10S. The fact that 100 shares should be offered down continuously for 33 points without finding single buyer na- turally had disturbing effect. There has never been a wide market for this particu- lar stock, so that the material results Of
 Sub-treasury operations have absorbed more than $3.o00.000, pointing to a decline in the cash item. The present large drain drafts by interior national banks on their New York correspondents for payment to the Treasury Department to make good the national bank per cent. fund The move ment to replenish the 5 per cent. fund marks stage in the reflux of the currency marked up again today and 1t seems evil dent that large progress has been made in taking up the available supply of credits as by the banks The Southern group of Erie second preferred with a number of specialties. notably Smelling. comprised the list of strong features. Atlantic Coast Line especially persisting to the last at near the high level. The closing generally was heavy and not far from the lowest level of the day. There were some very large trans- actions in Kansas City Southern s. supposed to be the outgrowth of the coming disso- lution of the voting trust The small fluc- tuation in the price gave the impression of a private sale passed through the ma ket vaiue). &t,sS5: ooo United States bonds were all unchanged on call.
 NEW YORK SHOCK LIST.