The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-06-21
cosslP or WALL STREET.

The Wall Street community has rarely
been more mystiAed over . bank statement.
II could hardly have been more surprised
everybody having taken It for granted that
the weeks banking results would make a
favorable showing. The wonder was that
traders did not cell the market more aggre.-
sively Than they did on the feeling OF general
disappointment. The expectation Of good
bank statement had been bulilsh factor in
Fridays trading. and the professional ee-
nent was supposed TO be waiting yesterday
to take profits on the sentiment that would
he produced by a large gain In cash. a con-
siderable shrinksge OF loans and a consequent
swelling Of surplus reserve: The selling that
occurred after the appearances OF the bank
At atennent was. about IA listless a. the
earlier buying. In the last few minutes OF
the session brokers and traders wandered
aimlessly around the floor OF the Stock En-.
change, the brokers without orders and the
traders lacking inclination TO trade.
Tho head Of q large bank says tw, or three
trust companies have recently drawn from
his institution an aggregate OF ss.00o.ooo they
had on deposit there. This statement ~a'
mads as one explanation Of the dtsappearan"a
OF 20 much OF the cash the associate banks
have been receiving
A. the Waldorf Friday night an otfci,l
OF the Republic Iron and steel Company
of cred to bet ~ 900 year, even money. for
Ave years, or as much longer "a the taker
| wanted, that the United States Steel Corpos-
alton will continue dividends AT the present
rate on both classes Of stock. He Ia said -
have posted the first Thousand to be covered
| by anybody who wants the other end OF the
wager. se
Bearish hints on Colorado Fuel were cir
culated yesterday. A curious story u he'rd
! about the soso. 900 notea that 80 nearly went
to protest II Is said that one OF the three
| principal factions IN the property favored
a receiveTship as means OF gaining an ad.
vantage over its rivals for control. Another
| faction, IL is said, anticipated this move Ivy
| providing the money required to meet the
notes. The faction first referred to might
| reasonably expect soma advantage over its
| opponents in the Colorado courts. This
T, story cannot be verified. and has only tas
| authority Of frequent reiteration.
A Wall Street man who has just returned
| from New England, where he sought without
| success 10 transact some business, says even
the bucket shops In that territory complain
Of the speculative public's apathy. New
| England has long been regarded as the most
lucrative bucket shop field In the country.
1t supports more bucket shops In proportion
| to the population than any other section.
| and when the New England bucket shops
| complain. speculation, indeed. is at very
/ low ebh. The same gentleman says tbs
| investment demand also. which Is normally
a very reliable quantity in New England.
has declined. The Boston contingent is said
! to be doing less In a speculative way th1n
! for a long time previously
! Wilson, Watson 4 Herbert were prominent
sellers Of Amalgamated Copper.
Metropolitan will sell ex-dividend 1. per
| cent. next Wednesday.
| Lawrence Waterbury has taken charge
Of the Newport branch office Of Dick Bros
| 4 Co.
There was heavy selling Of Reading com.
| mon yesterday By . large commission house.
| but the stock seemed to be well absorbed.
John II. Davis 4 Co. were the principal buy
ers. The selling was thought to represent
profit taking.
The Western stock market contingent
| appeared 70 be more interested yesterday
| in the Chicago Derby than in the tape. There
| was Il good deal Of betting done from, here
| on advices telegraphed from Chicago over pr.
vate commission house wires The dulaess OF
| stock speculation has stimulated the Wall
| Street interest In racing generally. IS
not unusual to read in the gossip slips SOME
| thing like this We think the n,arkst Ia .
purchase on every drive. AfTt-,nder oustt
| TO win at odds" None Of the Wu,l Htrees
Sharpe really tipped Africant.er for the
! Suburban, but several other horses were
named in the manner described.
In the short session yesterday there were
| but twenty-six stocks In which trans
| actions reached or exceeded i.0,o shares.
! and but 1--WE wherein they amounted to more
than 1000. OF those i've. two were what
are known as half stocks,' viz. Reading
| und Pennsylvania.
| 1t is expected that the New York Genital
| will be the next large railroad to announces
| steel rail contracts on the 1914 price schedule.
Its purchases for next year are likely. It 's
| said. to exceed those for the current calendar
year.
The decline OF Smclter common began
| with the execution of a 3,00o-share selling
order by the specialist in the stock. J. A. Baker.
Stop loss orders were uncovered on the way
down. Traders and commission houses took
| up the selling where Baker left OF. oliver
| and Bianchi were heavy sellers. The selling
order first referred to was said to represent
the liquidation Of fnisnformed Spectator.
| Talk Of dividend on the common stock
\ At this time was meyer taken seriously by
well-informed persons, bot II did influence
more or Legs speculative buying There is n
| large miscellaneous bull account In the stock.
based upon the knowledge that the COM
panys Affairs are In . very prosperous con-
| dtton. Throughout the decline the Smetee
stocks have held remarkably we'll, John
Wallace was tho principal buyer Of the COM
mon on the decline Yesterday.
The extravsgant importance attached u
| the selling OF Smelter stock the incident
depressed trading sentiment generally, was
| explained BY . board member BY the OBJ
servation that the gathering Of . crowd the
least bit out Of the ordinary anywhere on tbs
door 10 Invariably attended these days with
a spasm OF suppressed excitement. Tbs
only explanation Of this feverish interest
he could offer was that the rooms nerves
are at high tension.
The Waldorf crowd appeared YESTERDAY
to be selling stocks. William B. Oliver. Jr
wAs 4 conspicuous seller all around the room.
especially In Atchieon and smelter HE
object seemed to Do to deprcss prices rather
than TO liauidxte long stock. His operations
confused the room crowd and left 1t divided
In opinion ~ to the attitude OF the Field
| oliver contingent. II was thought ds rs-
| Gently a Friday to be bulline the market,
A petition probably will be got up this
coming week praying the governors to Gloss
the Stock Exchange on Friday, July 3 lnde-
pendence Day has twice previously been