The age-herald., 1899-06-20
HOPELESS CALM
 IN STOCK MARKET Speculation Seems to Have Reached an Equatorial Line. NET RESULTS WERE LOSSES Dealings Continued Profoundly Dull, With Not Enough Headway to In-
 dicate Future Movements
 Bonds Tended to Fall
NET RESULTS WERE LOSSES

New York, June Misrepresentation in stocks has evidently reached sort of equatorial line and Is hopelessly becalmed in the do3drums with not enough headway to in dicate in which direction its course shall be finally shaped.
 Dealings today continued profoundly dull and outside of movements of few special stocks which were influenced by indiyid- ual causes, the days events were inconse- quential. As is only natural in a market where the buying demand is practically nil, the drift of prices was downward, even with very small body of offerings to weigh on the market. There was in addi- tion the sympathetic effects of an active liquidation coupled with bear pressure in steel and wire.
 The net results of the day are losses in almost all cases, and in quite a number of cases these amount to as much as a Doint or over. Steel and wire showed it's weakness from the opening and dropped by successive stages without any determined support being manifest to a level nearly $4 per share below the price of Saturday. The confusion and uncertainty as to the declaration of a dividend at the coming meeting, due to the conflicting utterances Of those connected with the property, show ing the existence of dispute amongst the directors themselves, are responsible for this weakness.
 Heavy lines of this stock were taken on by operators on the confident assumption that dividend was to be declared. Fed eral Steel and other stocks of companies in the steel trade dropped in sympathy A buying demand for Tennessee Coal, which spread to Colorado Fuel had a large in fuenpe in chpcxiDo Ia in, bo ,l,ol group and affecting partial recovery, ex- cept in Federal Steel which sold at the lowest on the last sale at a net decline of over points. The temporary strength displayed by Sugar also served as a sus- taining influence. The early drop in the wheat markets affected the grangers for awhile, but they yielded again. The pre- Vailing depression on foreign exchanges was an influence, and the bears sold Trac- tion stocks the theory that Western Railway might spread
 The Baltimore and Ohio stocks were rather sonspicuously weak with no fur ther explanation apparent than the de- crease in net earnings compared with last year It is evident that the public and operators in stocks are waiting for the future course of events in the country's business and industry to become more clearly defined. Although the buying de- mand IS at a standstill present holders show no disposition to sell at present prices. There was short selling evident to- day, but the borrowing demand for stocks IS so small as to preclude the idea that q large snort interest exists The bears are apparently as disinclined to operate as are buyers. The consequence is the almost stagnant waiting market.
 Prices of railroad bonds tended to fall but business in them was almost as quiet as that in stocks. Total sales, par value. S1,995, ,0OO
 United States 3's coupon declined A and the old As coupon advanced f in the bid price.
 The total sales of stocks today amounted to 335,S49 shares, including American Steel 5l7OO. American Sugar 20 200 Brooklyn Transit, 29,4O0; Burlington, $500; Federal Steel, 364OO; Louisville and Nashville. 450O. Reading, $500, St Paul 9,7OO; Atchison, preferred, 9G10; Baltimor@ and Ohio. 370O. Tennessee Coal and Iron, 24 ,300
 Money on call steady at ?Q2ls per cent: last loan, per cent.
 Prlme mercantile paper, 31p3% per cent.
 Sterling exchange firm, with actual busi- ness In bankers bills at $4S72M4.88 for de- i mand and at $i. S5A@4S6 for sixty days.
 Posted rates. $4.S612q4S7 and $4.S9.
 Commercial bills, $4. S5b
 Silver certificates, 601aQ62
 Bar silver, 602s
 Mexican dollars, 4S1k. Government bonds irregular
 State bonds inactive.
 Railroad bonds easier