The Montgomery advertiser., 1905-03-09
WALL STREET REVIEW
VOLUME SMALL. BUT PRICES RECOv.
 FRED SOMEWHAT.
Trading Was Largely In Professional Hands. with the Movement Apparently
 Hesitating and Sluggish.

New York. March s.-Prices recovered in today's stock market. although there was
 The tone was by no means well assured and | hesitation and slugsishness were still ap- parent in the movement.
 Trading was largely in professional hands and there was no evidence of any important | revival of public interest The smallness of | the selling orders which resulted from the
 downward tendency yesterday served as an an warning to bearish professionals not to | extend their short contracts unduly After
 the extent of the speculation for the ad- vances and the height to which prices have been lifted. the small pressure to liquidate on the reaction is regarded as remarkable With the Northern Securities case de cided the absence of large selling to realize is regarded indicating a feeling of con- fidence in future developments having favorable bearing on values. But more ex- plicit information Is awaited regarding the developments
 The postment of announcements has
 proved trying to the patience of these hold ing stocks in expectation of the plans which
 were supposed to be contingent on the settle mont of the Northern Securities case. having to do with the redistribution not only of the properties included in that merger, but of others indirectly concerned in the railroad
 policy involved In that combination.
 Large attention is given to the subject in the current discussion in Wall Street. but evidently more concrete results were de- sired to revive any speculation in the mar
 ket. The effect of the strike on the locas
 
 minishing the attendance at the Stock Ex- change today and the sentimental phases of the strike were less taken account of.
 The most conspicuous buying today was in the coalers and the special prominence of Reading was attributed to the activity of a pool in that stock. The review of the trade conditions by the recognized organ was very cheerful, however. and doubt expressed whether the usual spring reduc- tion in the price scale would be adopted this year. at any event at the usual time. Amalgamated Copper also was responsive to enthusiastic trade reports and a specu- lative party was said to be active in that stock.
 The sharp rally in New York Central had good effect on sentiment. The movement in Western stocks connected with the merger rumors was more moderate. The crisis in the war in the Far East and the threatened catastrophe to the Rus sian army had the effect of checking &C., tivity rather than of prompting any definie position in the market. In Paris the rumor of another Russian loan seemed to have a influence of the war news. The London market reflected some doubt in It's opera tions pending the action of the Bank of England tomorrow on its official discount rate. The tone of the money market here was easy. both for call and time loans, but sterling exchange strengthened and the dis count on New York exchange at Chicago widened.
 The buoyant rise in Reading late in the day was interrupted by some renewed pres
 sure against Union Pacific and the closing was consequently slightly irregular. Bonds were steady. Total sales, par value, $3, 43o.000. United States bonds were all unchanged on call.