The Birmingham age-herald., 1903-08-01
TRADING IN STOCKS
 IS VERY APATHETIC
Price Movement Narrow and
 Uncertain
AICHIS0N MAKES A RALLY
improvement In This Stock Relieves Market of Any Downward Tend eney-close Dull and HeavY
 With Bonds Irregular.

New York July a-The trading in stocks became extremely apathetic to- day. and at times the dealings on the floor were no more than nominal. The undertone was heavy, but the price move ment was very narrow and uncertain. The recent weakness in Atchison was sup posed to be explained by the statement of June net earnings, showing decrease compared with the preceding June or se41 ,s95.
 An official explanation was added that the heavy costs of the floods were ae- countable for the poor showing. The bears who have been selling the stock snort ceosed to operate on that side of the market and covered. The rally in Atehl- son relieved the market of yesterday s principal disturbing factor and checked any general downward tendency, but the demand became very light, and the mar ket was semi-stagnant. The determiha- ton to keep out of the market was partly due to the Issuance of circular by the Rock Island directors, asking for au- thority to issue a S25oooo,00o refunding and ,nifying mortgage. This is confirm ation of many rumors which have elfeu- lated lately without receiving wide cred ence. The weakness of the stock market vesterday was due to those rumors, anu 1t rallied today indicating that yester- dav's selling was for the short account. rrbe nronosed intention of the speeula- tive person now Is to wait in view of the present condition of the market
 Money conditions retained yesteraas relaxation and preliminary figures indicate a cash gain by the banks for the week oi nearly S7OOO.000 The repayment or ene Pennsvlvania loans has been eNpecleu lo show in tomorrow's bank statement p@u1 @ the purchase of the Evansville anu CT i,. . : Haute and payments of S5,OOoO0 on the final installment on the international mer7 camille marine underwriting and or $S'9V,- 0oo on the Louisville and Nashville bona underwriting may eomplieate the loah Item of the banks. The nominal rise in the time loan market seems to be partly que to the light demand for funds and thls III turn does not free the stock market rom evidence of forced liquidation in spots. Yesterdays extreme weakness in some of fhe speciaities revived some fears or money troubles in today's market ana helped to paralyze the trading. The strug- gle for the Consolidated Lake Superior company to obtain subscriptions to Its bond offering was accorded attention Tor it's possible echo Tn the sloch nidihee. St Paul's moderate decrease in June earn ings, and Union Pacific moderate increase seemed to be equally without effect on those stocks.
 The weekly statistics of grain exports confirm the hope of a good foreign de- mand for wheat the shipments rising 509 454 bushels over those of the preceding week, but the corn exports have fallen off 572, BPS bushels for the same period. Today's movements of prices was mostly insignificant New York Central was forced down over point on renewed rumors that a bond issue was pending to provide for the terminal improvement. United States Steel preferred was nota- bly heavy. The local fractions made ad- vances and Amalgamated Copper rose a point over last night. None of these changes was maintained and the market closed dull and heavy.
 Bonds were irregular. Total sales, par value s1, 459,000. United States bonds were unchanged on call