The Montgomery advertiser., 1905-01-07
WALL STREET REVIEW
DISAPPOINTMENT OVER INVESTMENT
 DEMAND FOR STOCKS.
This, With the Reluctance of Outsiders to Enter the market, Is Cause of Declines-RoOm Traders
 Work Ia Irksome.

New York, Jan. 6.-Gathering disappoint- ment over the moderate investment demand for stocks and over the reluctance of the outside public to come into the market caused the general decline in prices today Ths growing suggishness of the market and the difficulty of getting prices up proved Irksome all the week to the room trading element, whose livelihood is dependent op motion in the market of one kind or an other. The obstacles to the advance prompt ed a considerable proportion of tho element to sell stocks. II did not appear that there was any great amount of liquidation in the movement, and there was no new de- velopments to prompt selling of securities.
 Doubt over the level to which prices have been lifted. and over their stability at that level may have prompted some selling The movement was not widely different from that preceding days except that there a lack of such sustaining points in the market as had been used up to today.
 The failure of explanation for the strength of Erie aroused Gome % suspicion of a profes, s, it's effect in the rest of the market. The rise in Amalgamated Copper was connected with discussion of its dividend prospects,. As to the features of the decline, It became fairly general during the course of the day and was apport toned, not according to any news of conditions. but rather according te the weeks previous advances, thus indi eating a profit taking character for tho movement
 The news of the day did not change from the recent favorable tenor as affecting prop erty values Some effect may have been produced by the report of the definite de- termination 10 appeal the Northern Securi- ties difficulty, which caused drop in that stock on the curb. But its subsequent ral- ly did not help the stock market. Railroads reporting earnings made no deviation from the recent advancing tendency.
 Tn the cotton market the decline tn prices was reported to be attracting at last large buying orders from foreign spinner' and the weeks exports of corn were regard- ed highly gratifying.
 The foreign exchange market continued to advance today and inquiries by foreign bankers showed that there is no abatemen. in prospects of the outward movement os gold. It is evident, however. that the move ment of currency has tu ned in full tide frons Che interior to New York. the prelim- mary figures indicating gain by the hanks of upwards of s6.O0O.000. There is feeling reserves in this centre ,s now awaited as an effective opportunity for the offering Of large new issues of securities.
 The fall Tn prices gained It's greatest vd locity in the final hour and overran itself, resulting fin an active demand to cover shorts by the room traders. The closing was
 The bond market was bros z but the movement continues irregular tal sales par value S5.S25.0o0. Tinted States bonds all unchanged last call.
 MARINE NEWS.
 New orlcap,. Jan. s.[cleared' Clear , strs r,dS E Bluefields; Cavo Domingo. Br., Friend Hamburg via Northampton; Masconoma, Rr Bra dford. Aalhorg via Norfolk' AIDS, ter Rieck. Cientuegos: Belvernon, Nor, Olsen Savanilla and Colon
 Port Eads-Arrived: strs wayfarer Br, Wood. Liverpool; Manteo, Patterson. Brooks wills; Alabama Nor Giimre. Bluefields Recta, Br.. Bremen: Chalmette, Birney, Ha- vana, Sailed strs. Btorgyin, Nor, Laav ing, Aarhuus via Norfolk: Cuban, Nor. Lofthouse, Manchester: Marina. Br, Taylor, Bremen; Excelsior. Hopnock, New York Indian, Br,, Lewis Liverpool.
 Mobile-Arrived: Str. Beacon, Nor. Pet ersen, Boeas del Toro. Cleared: Strs, Belize. Nor Chrlstiansen. Belize; Haralj, Nor |, Henryckwsen, La Ceiba.
 Port Tampa-ATrived: Str. Mascotte. AL len, and sailed for Havana via Key West.
 Pensacola-Cleared: Str, Petunia. Br.. Frankland. Ghent.