The Montgomery advertiser., 1905-09-28
WALL STREET REVIEW
OF DAYS SALES WAS rJN-
 USUALLY SMALL.
Fluctuations Extremely Narrow and An other Illustrntion of the StaRnn- tion Prevailing on the
 Market.

New York. Sept. 27.-The sale of stocks today fell to a smaller total than for many weeks past. The small compass of the fluc- tuations were even more striking filuetra- ton of the narrowness of the market. At different times during the day the trading ample demand, however to absorb any seii- ing pressure but as quickly the down ward tendency was arrested or small gains
 The action of the market suggested strongly the purpose of operators to hold the the list steady without attsmpting any not harmony with the views attributed to pow erful banking authorities that the time Is inopportune for any extensive borrowir~ of funds to embark in speculation. while at the same time the general conditions in the country ,S are so strong as to offer no ground
 The presence of supporting orders effec- tually intimidated the bear element and count. The day was almost entirely m ' fee zee ron iron , any incident D of inn imDortnnce from a tors which have been in operation since the beginning of the week operated to deplete stu further the cash reserves of the hanks statement of the coming Saturday The sub treasury statement showed that the absorp- ton by that institution since the last bank statement had exDanded to t4742.0n
 The market for foreign exchange was de- cidedly strong throughout the morning and shipemnts was called scanty. Tn the money markets of the world interest centerad on The weight of opinion points to an advance. ,and towards It's discount rate tomorrow. which 1t Is believed In some quarters will amount to full one per cent, An explana- ton of the apparent equanaimity with which the English bank officials view the with drawal of gold from London in face of the unusually low percentage of its reserve to its liabilities is found In the facts that the banks hold S10. 900. 900 of gold which does not figure '~ It's reserve because lear marked" for the English government. but 1t is exDected will come into the banks re- serve ultimately.
 This fact and the strength of sterling here today may influence the action of the rows meeting. There were persistent re- ports that large additional amounts of gold had been secured in London for New Yorl. since the last engagements were made. The but there was no notable change in quoted rates either for cali or time loans. The London market derived some benefit for the purposes of the Angio-Japsnese treaty York stock market
 The strength today was in about the same quarters as during an advancing tendency for some time past. The PacifIcs Reading. ern were conspicuous. the last named on rumors of important deyeloDments at the annual meeting which occurred during the day. The stock market held well after the expected developments heinz forthcon,- ing. The general market. however. yield ed 10 profit taking by room traders in the final hour. and only small remnants of the
 Bonds were firm Total sales. par value s3.980, ,000 United States 2s declined t per cent while the 3s and old 4s advanced A per cent on call.
 NEW YORK STOCK HIST.