The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1903-06-27
STOCKS ARE
STAGNANT
Business Light and Fluctua-
tons Are Narrow
WATCH GRAIN MARKETS
Strength Developed When
Chicago Showed Reaction
WATCH GRAIN MARKETS

New York. June 2S.-Dealing in stocks
was some smaller and the fluctuations
were even narrower than yesterday With
the cessation of liquidation OF United
States Steel second 5's the bond market
also fell of TO nominal proportions. Even
the usual Friday te1lency 10 close up
outstanding contracts and get away 10
the country for Saturday (which gives
an occasional impetus 10 Friday bust
ness during the summer season failed
& make ar impression on the semi-Stag-
nation OF the market. There was as lit
tie response TO selling on the seemingly
favorable news Of the day as there was
yesterday To the rathed unfavorable con-
ditions The whole market for stocks
seemed 10 be d mere feeble echo OF the
active speculation on the cotton and ce-
real markets. What strength was shown
for stocks was associated with the re-
action in wheat and corn. Reports were
circulated that corn was making rapid
progress and that showers in the north
west were relieving the need OF the spring
wheat for rain. 1t was evident that the
movement OF prices in the grain market
was highly speculative and spectators
acted in these indications with great eau
ton. But operators were equally eau
tious in following any other indications.
The preliminary figures OF the weeks
currency movements Indicate large re-
ceipts and smaller shipments than last
week so that the weeks loss TO the
sub-treasury, which includes the pay
ments for the gold exported. has been
more than Offset, providing d net gain in
cas- hof nearly 5000. 900. There is a hope
entertained also that last weeks $780,.
0O0 shortage in the bank statement as
compared with the known movements OF
money will be made good in this weeks
statement under the average system.
The late rush TO get in subscription Tor
the new Pennsylvania stock made an
impression. however. on the money mar
ket this afternoon, putting up the call
loan rate to 31z per cent Next weeks
preparations for the semi-annual settle
ments are also expected 10 increase the
activity in the money market
OF the days special movements that IN
Colorado Fuel was connected with n
rumor of a new bond issue and the stock
recovered with a denial rumor. United
States Cast Iron Pipe preferred sold off
points from the preceding sale. presum-
ably on account Of the petition for a re-
ceiver Amalgamated Copper rose neer-
~ a point in the last dealings on reports
Of more favorable conditions in the trade.
American Car was benefited by its good
annual report. Pennsylvania sold at ~.
lowering its record for the movement =
point. There were buying orders in the
market for scores of thousands Of shares
at I23 but the market for the stock above
that level was dull with the rest of the
market. Comfortable curiosity exists re-
garding the action OF the stock whan
the subscription rights have closed and
the supposed interest of the underwent
ing syndicate in supporting the price has
ceased
United States Shipbuilding sinking fund
bonds sold At %. compared with the last
sale on June I at % The bond market
generally was duH and irregular Total
sales. par value. Sl.195.oo0. United Sta ties
bonds were all unchanged on the last
call.
Closing stock quotations were as
follows: