The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-06-27
NO ACTIVITY in STOCKS
ONLY A FEW ISSUES SHOW ANY RE-
Spouse TO THE DAYS NEWS.
Pennsylvania Touches the Low Point
Is Expected to BE Very Good.

NEW YORK, June 26-Dealings in stocks
were smaller and the fluctuations were even
narrower than yesterday. With the cessa-
ton of the liquidation in United States
Steel second fives the activity of the bond
market also fell off to nominal proportions.
Even the usual Friday tendency to close
up outstanding contracts and get away to
the country for Saturday, which gives an
occasional impetus to Friday business dur
ing the summer season, failed to make an
impression on the semi-stagnation of the
market.
There was as little response to the SEEM
ingly favorable news of the day as there
was yesterday to the rather unfavorable
conditions. The whole market for stocks
seemed to be a mere feeble echo of the act
market. What strength was shown for
stocks was associated with the reaction in
wheat and corn. Reports were circulated
that corn was making rapid progress and
that showers in the Northwest were re-
lieving the need of spring wheat for rain.
1t was evident that the movement of prices
In the grain market was highly speculative
and spectators in stocks acted on these in
d1cationS with great caution. But Oper-
ators In stocks were equally cautious in fol-
lowing any other Indications. The prelim-
mary figures OF the weeks currency move
ments indicate large receipts and smaller
shipments than last week, so that the
weeks loss to the subtreasury, which in
cludes the payments for the gold exported,
has been more than Offset, providing a net
gain in cash of nearly $2.000,000. There is
a hope entertained also that last weeks
S5OO,OOO shortage in the bank statement
as compared with the known movements
or money VIII be made good in this weeks
bank statement under the average system.
The late rush to get in subscriptions for
the new Pennsylvania stock made an i'm
preston, however, on the money market
this afternoon, putting up the call loan
rate 31s per cent Next weeks prepare
tons for the semi-annual settlements are
also expected to increase the activity in
the money markets.
OF the days special movements that in
of a new bond issue, and the stock recov-
cred with denial of the rumor. United
States Cast Iron preferred sold off points
from the preceding sale, presumably on ac
count of the petition for a receiver. Anal
gamated Copper rose nearly a point in the
last dealings on reports of more favorable
conditions in the trade. American Car was
benefited by it's good annual report Penn
sylvania sold at 123 lowering its record for
the movement by Is. There were buying
orders for scores of thousands of shares at
123, but the market for the stock above that
level was dull with the rest of the market.
Considerable curiosity exists regarding the
rights have closed and the supposed inter-
est of the underwriting syndicate in sup
porting the price has ceased.
United States Shipbulding sinking fund
bonds sold at 23, compared with the last
sale on June at 40 The bond market gen.
at par value. were s1,195,0OO United States
bonds were all unchanged on the last call.
Following are the days share sales and
the recorded price changes: