The Birmingham age-herald., 1904-06-24
SLUGG|SHNESS IS 4 FEATURE IF MARKET Spectators in Stocks Are Watching the Future THE SENTIMENT IS MIXED Conflicting opinion Seems to ParaIyze Activity and Increase the conserv-
 atIve Tone of Operators.
 Banks Are Firm.
THE SENTIMENT IS MIXED

New York, June 23.-Excessive dullness and sluggishness were the features of the stock market again today The un- dertone was pretty firm and isolated ad- vances in some localities helped the mar ket sympathetically but some of the spe- cialties which performed that function yesterday were inclined to react today, and so had their influence in confusing the movement of the market. The mar row fiuctuation of prices, however, was above last nights level for the most Of the day. It is evident that convictions on the ultimate outlook are by no means firmly held by spectators in stocks on the part of those at least who have sut- fcient means to express their conVlc- tions in operations in stock. Sentiment is decidedly mixed between those who see current unfavorabie news sufficiently ols- counted in the present declines Tn the market and who expect the developments to be towards improvement ana those who fear continuance Of shrlnRage III trade and industry
 Instead of inducing opposing specuia- tive operations, this conflict of opinion seems to paralyze activity, and accentu- ate the conservatism and even tmlulty which prevails. This spirit seems 10 De a fair reflection of that existing Tn the business world at large, and It's alteratlon there Is awaited to stir the securltles market. whether TOT auNdHC6 Ol ucthhSs Owing to the importance attached to the iron and steel trades as an index Of gen. eral trade, United States Steel preferred had a very influential sympathetic effect upon the whole market. It's immobllity today in contrast to It's recent advance communicated a tendency to the whole market
 Amalgamated copper's unresponsiveness to news of a favorable judicial decision in al significant of the quiescence of party of capitalists whose market movements are closely watched for leadership by the rank and file of spectators.
 Increases in May net earnings by req ion of reducing operating expenses for Wa bash and Central of New Jersey revealed tendency from which much is hoped to- wards the reinsurance of capital. Some hrmness in the wheat market was attri- buted rather to reports of damage to the foreign harvest. than to any harm to our own crops from which the news was fla vorable. The failure of a savings bank in Massachusetts on account of poor in vestments" was of effect on sentiment rather from it's example of a constant succession of such events than from the individual importance which was insig- nificant.
 The stringent disciplinary measures ad- ministered to members by the stock ex- change authorities for relations with out side organizations against the exchange rules may have had some restrictive effect on the dealings. The newly relist- ed American Steel Foundry stocks were dealt in at quotations considerably be- low the last prices for them before they were stricken from the stock exchange list Changes in the day were insignif- cant
 Bonds were firm. Total sales par value, s2, ,790. .000
 United States bonds were unchanged on .-call.