The Montgomery advertiser., 1905-02-18
WALL STREET REVIEW
TRANSACTIONS AND FLUCTUATIONS
 Bo1H DIMINISHED.
Mass of Securities, Usually So Conspicuous, Were Exceptions to Rule and Proved Themselves Very
 Sluggish.

New York, Feb. l7.--The dimensions of the market diminished today to some ex. tent. both fin the volume of transactions and in the sizL of rhe fluctuations. number of less important stocks moved widely, but the mass of the securities which usually make up the ,,I market were sluggish, Ia.n,n ,r the market and the strength which 1t de- veloped seemed to hold prices elsewhere after rather distinct selling tendency had become manifest The early movement up- ward was fairly general although it lacked the lately prevalent demand for London &C., count. operations for that centre shifting to the selling side today. The movement was generally attributed to a covering up of short contracts put oat late yesterday. large ly under the apprehension that the dis ute In the Equitable Life Assurance Society would prove incapable of being healed.
 The policy of reconciliation which pre- vailed at the afternoons meeting of the di- rectors was hailed 0'th decided relief In Wall Street, where considerable but vague dread was felt of the ulterior consequences of the quarrel This influence in stocks was short lived but it was followed by the lively upward movement in a number of industrial stocks which are rarely conspicuous In the market.
 News to account for these r1oveme Its was not forthcoming but they were quite gener- ally attributed to conditions In the trade with which the properties were connected and to a growth of earnings giving rise to suppositton of dividend benefits to be this class of stocks are not of s,rong sympa- thetic effect the general list and they spent their force rather quickly to be succeeded by reactions.
 The two-point rise in Union Pacific to new high level was of more effect and ar- rested the downward tendency in prices. The large size of the individual snlocks of this stock winch were dealt in were testis, mony to the large resources enjoyed by the optrators in 1t. The movement had its GUS tomary accompaniment in Northern Securl- ties the curb. The latter stock vol ume of trading in the curb market rose buoyantly several points above It's previous record price to the ntighborhood of 160 Great Northern preferred the Stock Ex- change jumped 10 points on very light deal ings.
 Further deep cuts in the rates on grair for export had a disturbing effect on Bentt- ment and witnessed to the growing serious ness of the war for that traffic talk of strike of the New Haven fremen also of some effect.
 The forecast of the weeks currency move- ment gave promise of weak bank state slightly higher in consequence. The regular movement with the interior is stiIl slight ly in favor of New York and in the indicate ed loss of over $5, 000.0OO cash is altogether up to the gold outgo. But the gain on bal ance from the interior has fallen 10 almost normal proportions indicating the approach of the turn of the tide.
 With the Iate reaction in Union Pacific prices elsewhere fell back again aud l"C closing heavy.
 Bonds were firm. Total sales. par value $4,4l5,000 United States 2s advanced zl per cent call.
 NEW YORK STOCK LIST.