The age-herald., 1901-06-21
STOCK MARKET
 HAS A DULL DAY
Less Than a Half Million Shares Were Sold During Session
COLORADO FUEL ACTIVE
Condition of the Money Market Pre- vents Large Transactions and Speculation EVinces a Disposi-
 ton to Hold Of for a While.

New York, June 21.-Opening prices of stocks were at the highest average level of the day, and all rallies of which there were several of slight force, were met by renewed realizing, which drove prices downwards. After the opening spurt there were developments of strength here and there in individual stocks. but they were fin the class of securities that usnally have little prominence in the trading, and were without great sympathetic influence on the list The descent from the opening high level was considerable but selling pressure showed tendency to diminish when prices got down to about last nights level. In fact there was no severe pressure to sell at any time. and the market reflected rather the disposition Of the class of large spectators to re- ftain from opinion and let the market lie dormant during the period of doubt re- garding the capacity of the money mark ct to afford resources for speculation be- tween now and the turn of the half yearly period. The volume of dealings showe1-a notable shrinl1agc and fell below the half million share mark, which is the lowest l tion. Even this meager aggregate was largely dependent on the congested deal- ings in a few stocks, notably Amalga- mated Copper This stock was under pressure all day. and fell an extreme under last night with final rally of 2 points the quarterly dividend and per cent on the extras. This selling Is said to be in large part due to arbitrage op- erations against buying of stocks eligible for exchange Colorado Fuel continued it's sensational fluctuations, falling alone at one time points under last night 2S1s under the high price of Monday, but rallying at tho last to point above last night General Electric was bought on the reported acquisition of the British Thompson Houston Company and the stock being in very light supply the buy ing lifted it b points by wide jumps There was persistent strength in Mime apolis and St. Louis, and the Iowa Cen tral stocks which rose to AZ on rumors of Q merger. and final absorption by the Illinois Central.
 The strength of Chicago Great West ern was based on @ feeling that the set clement of the Western railroad situation will necessitate it's control. The early strength of the market in sympathy with London was clearly due to the improve ment there of the money situation where
 
 disbuTse the resources of Tuesdays in- stallnent of consols subscriptions. Doubts. however, continue over the local money situation The sub-treasury has already taken from the market this week g. SQ6, 900 which includes the payments qf the gold exported. The sale at auction at Washington today to satisfy a govern ment lien of the Sioux City and Pacific Railroad Company to the Chicago and Northwestern will involve the further payment of the government of nearly $2,- 000.000, although a period of twenty days is permitted The rise In New York ex- change at Chicago to 25 cents premium per thousand shows that the interior is responding to the pressure for funds at New York. The very heavy requirements Incident to the unprecedented interest and dividend disbursement of July l. which must be met next week admonish to con- tinucd caution in over-straining the money market for speculative purposes. This and the subsequent moves in St. Paul explain the dulless.
 The bond market was moderately ac- tive and irregular. Total sales, par value, S2,920000. United States bonds were all unchanged on the last call.
 New York Stock Market.
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