The Montgomery advertiser., 1905-03-28
WALL STREET REVIEW
EXTRAORDINARY PLAY OF QUOTA
 TIONS ON CHANCE.
Served to Disguise Realizing in Progress In More Substantial Stocks-Market
 Fell Late in tho Day.

New York. March 27.--An extraordinary play of quotations in . large number of low some appearance of strength for the great CT part of today's session of the Stock Ex- change and served to disguise the realizing that was going on in the more substantial stocks. But the market gave way late in the day and fell sharply to a low level.
 The early strength kept alive the hope that the great resihency developed last week on the mid-week decline was a herald of tho strong resumption of the advance. There was a generally confident expecta- tion amongst professional operators that the dubious points in the speculative situation had been forced into the background by last weeks demonstration of the resisting power of the market. The haiting ten- dency which developed in the course of the days trading was not clearly traceable to any change in conditions or outlook, but the disinclination to follow up last weeks recovery with further large buying was found very clearly defined.
 Tthe miscellaneous collection of stocks which shot up from time to time while eff forts were making to hold the market were not the subject of any information to ac- count for the movement. The absence of explanation and the lack of any common cause of some suspicion of the movement. A list of 25 to 30 might be compiled. many of which rarely appeared in transactions, which were lifted from to 8 points.
 Some influence Is given to the money out look as the factor checking active specula- tion. especially with the April list require menus now near aS nanQ. Quhrterly pay ments on that date will be added to the normal monthly requirements. The renew al of demand for gold on the part of Paris. which came into force in London on Satur- day. is regarded as significant and modi- fies considerably the prospects in the ex- change markets. Any tendency for gold to move to New York from London would be restrained by an accompanying demand from Paris An intimation came from Washington also that further calls for the withdrawal of Government deposits might be expected to the extent of $15.00o,o 900 to $20.000.000 as opportunity might offer without likelihood of harm to the business interests of the country. This measure be- fore period of possible money strinsency fin the fall. This tone of foreign markets was regarded renewing the doubts of an i'm mediate peace which was felt with grow ing confidence to be imminent last week.
 bad effect was produced by the de- ciJedly weak showing of net earnings for February presented by Atchison, the decline in gross earnings being aggravated by a rise in operating expenses so as to induce decrease in net earnings for the month of $S14,000. or more than 42 per cent. Reports of railroad traffic generally, however, con tinued highly encouraging on the part of the railroad officials; offerings of all class continued large. while favorable weather ness at the lowest possible cost of opera tion. Stocks. however. showed increasing signs of weakness and closed at practically the lowest point of the day Union Pa cifics decline ran to points and many other standard stocks fell from 1 to ? points.
 Bonds were irregular Total sales. par value, $4,320,00 900. United States 3s coupon and the new As coupon declined k per cent. and the new As registered 1s per cent. The
 NEW YORK SHOCK LIST.