The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-06-05
STOCKS AND BONDS.

New York, June 4.-The stock market
relapsed again to-day In the reactionary
condition, showing the same apathy end
hesitation which characterized Ii for some
time previous to the Slight flip which
gave an appearance of some animation a nd
strength last week There were times to-
day when stocks were offered quite free
~ and in considerable variety and the
entire absence of demand made prices
Vulnerable 10 the efforts by professional
bears to bet them to a lower level The
actual news of the day offered little 70
account for the weakness In the market.
Probably the correct explanation Is the
conviction now become general in Wall
street that last weeks buying was due
to the closing up of some extensive short
accounts by one or two operators on a
large scale. While that demand found
very scanty offerings OF stocks it failed
entirely to attract amy additional demand
Commission house business continued at
a very low ebb. There was some specula-
ton in Sugar during the day, based on
the dividend prospects. 1t was expected
that the quarterly dividend would be de-
clared to-day. but IL was announced dur
ing the trading that action would be de-
ferred until tomorrow. Int!ma lions were
given out, however, that the Executive
Committee had already determined upon
III per cent. dividend for the quarter
maintaining the same rate as the last
dividend. The price was run UP to 19N
by this rumor. but later fell back below
Saturdays price, closing a shade off on
the day.
The Whitsuntide holidays In London and
on the continent left the market without
any index of foreign conditions. Some
sentimental depression was caused, how
ever. by the delay in the occupation of
Pretoria and by suggestions of money
market difficulties in Berlin. TIE bears
mr. tft1e eli afc
sible complications in the far East. The
closing of the Illinois Steel Ccmpany's
mills In South Chicago made the STEEL
stocks especially weak early in the d8y,
but the tone of the group became steadier
in the late weakness Of the market. A
rise Of 3 points in New Jersey Central
caused temporary hardening of the coal
ers, but it did not hold. The Heavy loan
expansion of the banks disclosed hy Sat
urday,s bank Statement, bringing the loan
item to the largest figure in the history of
the clearing house, was unexplained by
news Of any special transaction. In this
connection discussion was caused by the
dispatch from Berlin TO the Associated
Press reporting a project by German
financiers to introduce the imperial FER
cent. bonds upon the American market
owing 10 the great abundance of capital
in the United States.
The Treasury Departments estimate OF
tnt dHlOuHt vi fuOtley III ClTculdllDtlt on
June l shows an increase for the United
States of $4162. 40S for the month, In spite
OF the gold exports of over $i0,000.O00 and
the taking up of the treasury surplus OF
nearly S5.000000. The prospect Of an early
resumption of gold receipts from the
Transvaal, the expectation that shipments
will soon be received from Cape Nome
and the Klondike, and the high rate OF
production reported by American mines
arotises the discussions as 10 the future
effect on prices OF this large supply Of
money metal. The small brokerage fsilure
announced during the day was without
effect on the market.
The bond market was dun and irregu-
lar. Total sales. par value, $l1S0 900.
United States old As coupon decl mel
Il, and do registered and SIS u per cent.
The 2's advanced Is per cent.
Total sales OF stocks to-day were 27s,-
100 shares, including the following:
Atchison preferred, 1880; Baltimore ard
Ohio. 1880; Missouri Pacific, $3.50; North
ern Pacific, 5.575; Pennsylvania, $40;
Reading LIST preferred, 400; st. Paul, H.
21O; Southern Pacific, 54S5; Union Pacific.
u, 800; American Steel and Wire. 1885;
American Tobacco, 6.345; Brooklyn Tran
sit, 1880: Federal Steel. $3.50; Sugar.
40 DO