The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-06-20
DECIDEDLY DULL.
Not Much Animation
in the Stock
Market.
NO CHANGE IN BOSTON.
Federal Steel Weakens
Foreign Trade
Notes.
NO CHANGE IN BOSTON.

There was not much animation in
stock market dealings yesterday, either
in New York or in Boston.
Broadly speaking, the market was
steady, and there were few changes of
Importance in prices. The effect of
the Federal Steel dividend declaration
on the stock was a sharp recession.
These things are natural in specula
tive stocks; when the anticipated good
news materializes, the incentive for
bullishness is removed and realizing Of
profits is apt to be active. Other steel
shares were heavy, but the general
market held well and Federal Steel re-
covered quite we'll in the later dealings.
The general idea on the street seems to
be that no improvement in the breadth
OF the market is likely until the semi
annual interest and dividend disbUrse-
ments of July release an immense
amount of capital, much of which is
expected to seek investment in the
stock market.
The market simply drags with little
interest, save to the professional room
traders, who can chase the nimble and
elusive 1s The game is not attract
i've to the public, and commission bust
ness is at a standstil. In Boston there
is no semblance of speculative anima
ton. Copper stocks are all but ig-
nored, and save for Dominion Coal,
there hardly is home feature of in
terest
The Wall street market opened lower
but losses were confined to small frac-
tons except in American Steel and
Wire, which sagged over a point. Su-
gar showed an advancing tendency,
and Pan Handle rose a point. In sym
pathy with Steel and Wire, stop loss
orders appeared in Federal Steel, which
became heavy in sympathy While
the general market sagged, the losses
We're not important, except in Metro
politan, which yielded ?. Good buying
of Sugar sent it up IL, and a demand
for c., p. & @. steadied the list. The
higher average brought realizatiOns,
and prices worked off to the lowest.
Steel and Wire dropping to So in the
first hour. The selling of the market
became more scattering with Chicago
Terminal preferred and Baltimore and
Ohio falling sharply. Trading became
almost stagnant toward noon, but
there was a somewhat firner tone, Steel
and Wire rallying ~ and Consolidated
Gas points
After noon the market dragged, with
few variations in prices and none worth
specifying at length. 1t was narrow
and well nigh featureless day-a case
OF midsummer dullness five or six
weeks too early. The average of %
leading stocks at 2 p. m. was 4 lower
than at the close Saturday.
Dominion Coal led in Boston inter-
est. The fire in the mines has not been
subdued as yet although advices to
the company say that it practically is
over, and the Interference with produc-
ton and business generally viii be
small The stock has stood up re-
markably we'll in view of the accident
at the mines and market attacks.
There was a drop Of 2, to 81, in the
morning, with rally to SO. later decline
to 5115 and hardening at . in the after
noon. Nearly 1000 shares changed
hands in the morning. There was a
fair volume Of business in Federal Steel
shares Parrot was off IL to 521I
other mining stocks were neglected
not over 5000 shares. all told. of this
group were sold in the first half Of the
day. Boston Elevated was 10 lower
at 106. Mergenthaler sold at POS.
The following quotations We're made at
the close of the market on the Boston ex-
change, yesterday, on stocks held in Yor-
cester and vicinity: