Evening star., 1901-06-07
Today's Stock Market Was Rather
Dull and Featureless.
SOME GOOD BUYING OF B. AND 0.
Considerable Interest Manifested
in j. P. Morgan's Return.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. June 7.-Today's stock mar
ket was a duplicate of its immediate pre-
decessors, and consequently attracted but
little new business. London sent over a
range Of prices about equal to the local
closing parity. but arbitrage houses sold
upward of Jo.ooo shares during the morn
ing The necessary incentive to a big mar
ket was lacking, and traders made prices
within narrow limits. without attracting
any opposition from the various syndicates
There was no news of a general charac-
ter to give direction to prices. and dullness
made an effective cover for mixed selling in
nearly all departments The buying capac-
ity is restricted and commission houses
have fewer big orders than formerly. The
market has regained its anti-panic level
and demands some new argument TO force
1t beyond record prices.
Mr.. Morgans return has been regarded
as marking the probable date for the new
activity. but today's advices are to the ef-
feet that this date is an unknown quantity
and may be considerably later In the sea-
son.
A syndicate has been organized to fur
ther the Tobacco consolidation. and s25-
oOOo Is pledged to the enterprise. TheS
bonds to be issued in exchange for the
stock are to be tied up until the syndicate
Is dissolved. This plan. IT is thought will
insure the same close Investment holding
of the new securities as has been the case
with the old. Present Indications conse-
quently are favorable to the success OF
the new company and Tobacco stocks are
a trifie stronger than the general market
The steady buying OF American Car and
Foundry is attracting attention and the
room Is rather In sympathy with the move
ment
Baltimore and Ohio and Panhandle issues
were In good demand advancing DrfCea
1t was expected that Pennsylvania would
be forced into activity along with its con-
trolled lines. but the buying was not equal
to forcing its way through the realizing
sales.
As a trunk line property of the first class
Pennsylvania has not been exploited to the
buying OF Rock Island is suggestive of a
short interest, but inside influences are evil
IDENTIFY opposed to any spectacular move
ment against the short accoune
Louisville and Nashville was one of the
best bought stocks on the list and much
of the demand came from sources supposed
to be Identified with the property. Asyet this
road has not been included in any amaIga-
nation and the new buying is taken as a
forerunner of some developments along
such lines.
The confirmation of the rumor that w.
X. Vanderbilt had been invited to become
director in Northern Pacific was regarded
as favorable incident. II the new board.
which Mr.. Morgan has authority to select
Is to be composed OF influential railroad
men the recent corner in Northern Pacific
will have been the last unpleasant episode
to the credit of that property. Harmony
in the northwest will be assured. and the
life of the community of ownership idea
will be prolonged
The currency movement during the week
indicates a gain Of S414 1913 to the banks.
The banks gained 81 261 600 net on the In
terror movement, but lost liberaily to the
subtreasury on account OF internal revenue
transfers bringing the net down to the figures
given. Should the late gold shipments last
week, amounting to some $1,000 600 be
counted in tomorrow's statement the result
Will have surface appearance Of being
unfavorable. It Is not likely. however that
the changes Will be significant