The age-herald., 1901-06-08
DULL AND SLUGGISH STOCK MOVEMENT Room Traders About the Only
 Element at Work THE LUME GE IS SMALLER A Few Large Transactions, But They Were So Mixed On the Long and
 Short Side as To Be
 Confusing.
THE VOLUME GE IS SMALLER

New York, June 7.-In today's stock market there were only few points of activity and strength and the majority of stocks were dull and sluggish moving irregularily up and down under the vary ing operations of room traders There were some large transactions by the brokers who have been credited with act ing for various financial leaders, but they were so mixed on the long and short side as to add to the speculative confusion. The volume of dealings showed further falling off from yesterdays decreased to- tai. The opinion prevailed that the clos ing out of accounts earlier in the week was in preparation for the summer holi- day season and promised period of com parative dullness and likeness in the mar ket Whatever points of strength were shown in the market seemed to be due to individual causes Louisville was nota- ply strong and the buying was accompan- led by talk of an increase in the dividend rate which was, however, deprecated by insiders. Missouri Pacific and the South westerns moved upward excepting the Wabash, which was affected by realiz ing. The story recurred that Missouri
  vide1d basis later in the month by the declaration of lump dividend and that valuable rights in addition are to be de- clared. The movement in Baltimore and Ohio seemed to be based on reports of the conference between Pennsylvania and Reading accounts, presumably to arrange measures for the benefit of Baltimore and Ohio. The New York public utilities were generally affected by hopes of relief from the franchise tax, and in addition Brook lyn Transit put out report of good net earnings for April The Tobacco stocks were subject to active speculation on the organization of the consolidated com pany. The stock was feverish, receding early on realizing but rallying on publish ed assertions of formation of an under writing syndicate for the new company which would tie up half of the proposed debenture bonds and kept them off the market
 The continental stocks show net gains of about a point, American tobacco 25k; American snuff 3A, and the preferred 2A There were besides many usually neglect ed stocks which advanced from 1 to 5 points without any news to explain the movement. Net changes as a rule are not significant, the sluggish fluctuations talk ing prices lower from last nights level. although the extreme range from high to low ran from 1 to points In the active stocks. Not much attention was paid to the money market, but the call loan rate ran up to 41a per cent in the late dealings. On Monday the fourth and lost install ment of S10,000, 900 Is due on subscriptions to Union Pacific convertible bonds. Prepa- rations will begin next week also for the payment of several dividends due the week after notable that on Standard Oil. The indications are that the cash changes. to be shown by tomorrow's bank statement, will be less than half million dollars. and will probably be a gain for the banks. The flrmness of the sterling exchange market. both here and in Paris, in view of the reduction of the Bank of England rate and the easy dis counts in London, attracted considerable attention. The bond market was quiet and irregular Total sales, par value, s2,6S5,- GOO.
 United States bonds were all .un- changed on the last call
 Money on Call.
 New York, June 7-Money on call steady. 3D41a per cent. last loan and ruling rate, per cent.
 Prime mercantile paper, 3%G41s per cent. Sterling exchange firm, with actual busi- ness in bankers bills at $4.SsA@$4SS3s for demand and s4. S51s@$4. .857s for sixty days.
 Posted rates, $4.S6 and A.S9.
 Commercial bills, $4.S41k@$4S5.
 Silver certificates, nominal, 60.
 Bar silver, 5912.
 Mexican dollars. 48.
 State bonds inactive
 Government bonds steady
 Railroad bonds inactive.