The Birmingham age-herald., 1902-06-09
STOCK MARKET
 PRACTICALLY IDLE Will Not Venture a Campaign
 Against Values LIQUIDATION IN BONDS Some influence On Sentiment Was Exercised by the Increased Diff
 tcultes Between the Coal
 Operators and Miners.
LIQUIDATION IN BONDS

New York, June 7.-There was no change In the representative influences rpon speculation in stocks today and the market was practically idle In conse- uuence The policy of the large interests in stocks seemed to be defined as one or pertinaclous holding until the unoerly- ing strength of the situation emerses from the present obscuring influences Meantime the professional spectators are apparently unwilling to venture upon campaign against vcalues. Today some influence upon sentiment was exerted by the strike of the coal miners in West Vir- Kinia by the increasing difficulty of pro- tectinx the anthracite mines from flood ing by keeping the pumps going with makeshift labor, byt reports of too abun- dant rains in the corn belt and by the failure of the bank statement to show any recuperation in the percentage or re- serve against deposits While these facts had the effect of absolutely killing any demand for stocks, the selling induced was of quite insignificant proportions and the light play between professional room traders, whose attendance at the board was reduced to a minimum.
 The great bear leaders of past cam paigns have been committed to the pro- lection of various important stocks for some time, and this was an important el- ement in the sense of security in the sta bility of the market that has been felt. The anthracite coal strike has been in a more or less degree depressing inf1u- ence that has served to discourage any attempts to advance prices In other parts of the list. There were efforts apparent by pools in one or two cases to aonance prices after the first of the week, but the lack of market to realize on after prices had been lifted discouraged these efforts and the market fell into state of profound neglect.
 There can be no question of the heavy cost in earnings involved in the total shutting down of the anthracite mines and the withdrawal of the principal item of traffic from the coal roads. The call ing out of the engineers and pump men and the struggle on the part of the mine owners to keep their pumps running and save the mines from damage by flooding have added to the depressing influence of the strike on values. The increased bitterness and hostilities resulting from the continuance of the struggle have add ed to the anxiety which 1t causes. The stocks of the coalers themselves have been well supported and have not suHered acutely but the effect is potent on the market at large. Whatever expectation was indulged that the declaration of peace in South Africa would result in immediately stimulating the securities market, was promptly dissipated on Mon day, when 1t was seen that the order of the day in London was the taking of pro- fits by the speculators who had bought in anticipation of the peace. The profit taking continued during the week, but seems to have spent its force. There has been no activity of consequence In for eign securities markets as yet and it is the opinion of oreign observers that there will not be until the coronation of the king. An important feature of the realizing in trade was the taking of pro- fits by American holders of British con- sols This operation would naturally tend to replenish the supply of sterling ex- change in New York
 The undertone of finance and confidence in the stock market is in accord There has been liquidation of speculative bond issues and an irregular tone In that de- partment United States 2s, registered 3s and the new 4s declined A and the 2s, coupon, and old As B per cent from the closing call of last week.
 New York Stock Market.
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