The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-06-27
STOCKS DULL But FIRM
ST. PAUL, MISSOURI PACIFIC AND
AMALAGAMATED FAIRLY ACTIVE.
Movements without Explanation Ex-
cent In st. PauI-Fear of Gold Ex-
ports Has Passed Temporarily.

NEW YORK, June 26.-To-day's market
was still duller than that of yesterday
and except for the large dealings in St
Paul and the considerable activity in Mis-
souri, Pacific and Amalgamated there was
almost nothing worthy of note. The APP
proach of the months end, which is also
the end OF the fiscal year for many cor
porations. and the extra requirements on
the money market incident To the period,
were undoubtedly an important factor in
depressing activity. The Stock Exchange
custom is for loans made on Friday TO
carry over until Monday, so that to-mor-
row is looked forward to with some solicit
tude. The call money market was quite
active to-day, but free from furry,
and what was regarded with still greater
satisfaction. foreign exchange receded
fraction. Bankers loan bills were in the
market, thus replepishing the supply, while
the holiday in London and the cessation of
the dribbling liquidation of stocks from
that source lighteRed the demand for ex
change The fear OF gold Withdrawals this
week was thus removed. Although the
London market was closed, the encourag-
ing news regarding the condition of the
King of England has some influence in
keeping the local market Arm. The feature
of the day was the demand for st. Paul,
resulting in an extreme rise Of nearly two
points. The movement was ostensibly on
the good reports of spring wheat pros
poets The buying was attributed TO the
Western speculative element, which has
led all recent movements, but there were
indications of some further diversity in
the sources Of the buying. ST. Paul was
the real sustaining force of the market
although there was a collateral movement
in Missouri Pacific. The announcement of
the contract between the Pennsylvania
Railroad and the Postal Telegraph Com
pany for the use of the formers rights of
way seemed to have a depressing effect
on some of the Gould stocks, in sympathy
with the decline or la in Western Union.
There was some strength in Amalgamated
Copper without any news bearing on trade
conditions TO explain the buying. The coal
eTs were almost entirely neglected and
Reading closed the day with a small loss.
The coal operators have decided denialS TO
rumors OF measures of Cancellation with
the miners and of arrangements for the
early reopening of the mines. The order
for the curtailment of mining In the west
ern Pennsylvania bituminous field was put
in force to-day. The May statement of
earnings of Erie and New York, Ontario
& Western showed the effects of the strike
in large decreases in earnings. The Ches-
apeake * Ohio statement for the third
week in June showed the same force at
work TO lessen the earning power, was
the case in the Virginia and West Virginia
coal carriers. The market closed dull, but
generally higher than last night.
Bonds were firm. Total sales at par value
were 100000. United States threes de-
clned = per cent. on the last call.
Following are the days share sales and
the recorded price changes: