The Montgomery advertiser., 1905-09-14
WALL STREET REVIEW
FLUCTUATIONS CONSTANT BUT NOT
 VERY DECISIVE.
Professional Operation for Purely Manipu lafive Purposes Were Suggested in the Proceedings Ot
 the Day.


 New York Sept 13.--As reflection or any fixed conviction on the prospect or values today's stock market was not or much use The fluctuations were constant and never lar in one direction. In the stock which moved most notably. the action sus- Eested professional operation for manipa iative purposes. Gains which developed first we're not continued, the stocks affect ed being left to themselves in the later dealings. while attention was turned to nominal points
 The engagement of gold yesterday Tor shtpment to New York continued it's good effect on sentiment. but the more urgent demand for stocks which 1t stimulated yes terday was evidently from uncovered shorts and with the satisfaction of this demand trading today became languid and indiffer. ent. Such operations as were done seemeo to De for the purpose or rursins scnrrenne ,n9 of weakness. Commission house business was reported to be of insigniflcant volume. The perception grew that the relinquishment of gold from foreign centres, while 1t might constitute a recourse against severe dam York market. was by no means calculated to provide a redundancy of funds here such migh' stimulate an ss Nsw Sork ab Iity 10 draw on foreign money markets, 1t lis believed that period of considerably between now and the period when the movement of crops is completed
 ports ns for G' August throw considerable light Ion the command of foreign credits estab-
 ds the exports 1. eotsoT ns5 Iosss August of last year As the comparative price of cotton between the two periods the increase in value for this years .s, ex. bort has increased over si1.ooo.o0o. With Icipally due to the outgo of corn and pro- visions. added. the increase in value of ex-
 tDoa for last bas sss s9 have been made for railroad securities transferred from the hands of local syndi- eSsdept @ noiosf Therefore, % that heavy Obligations are due to this centre from foreign mar
 Sterling exchange steadied here and the suggestion found credence that exchange bs were being pure,hasSsd ,S m assin anoi fGr here to London. the process which has develop cd of late whenever exchange rates went to was generally expected as well that the Bank of England would make further morrow's session of the governors in order to interpose q further obstacle to the loss treasury continued its large inroad on New York bank reserves, the absorption reached today since the last bank statement rising aurins d the VVyOy day that the % Secretary of the | Treasury had decided to re-deposit S2o.- banks which were withdrawn from the na- tionals in July. but this rumor was of ficially denied.
 Some of yesterdays strong stocks became sharply reactionary. notably Sloss-Sheffield. the stock dividend distribution coming in l for some criticism. Copper fell fin London l and was marked down a fraction In the | pound here. Character of the days ad- | vances in stocks awakened diRtrust They were all lost during the latter part of the day, and in the final hour prices fell below last night throughout. The closing was easy.
 | Bonds were irregular. Total sales. par l value S2.650, 900. United States 2s de- | clined k per cent. while the old As ad- l vanced E per cent and the new Is M per | cent on call. 1 ArENn ZnrIr ar,nCEr HHam