The Indianapolis journal., 1904-06-07
ONTARIO WESTERN LEADS
DEALINGS IN THIS STOCK YESTER-
DAY AMOUNTED To $4,000 SHARES.
This Movement Did Not Have Much
Effect Upon the General List-Late
Market DuIl-BOnds Irregular.

NEW YORK. June 6-The accumulation
OF Ontario & Western stock in to-day's
market had more the appearance of an ac-
tive speculation than anything that has oc-
Cured in stocks since the movement in
Union Pacific. in connection with the
Northern Securities decision
The general market proved itself almost
wholly irresponsible to this influence in
spite of vigorous efforts on the part of
small room traders to extend the move
ment into the rest of the list.
The dealings in Ontario & Western in the
first hours made up almost the bulk of the
whole market for the entire day. The out
come of the incident had the effect of leav
ing speculative sentiment more than ever
hopeless over the chance of inducing any
activity in the market.
The dealings were quick to drop into the
condition of apathy which has character
ized trading for some time past. The or
ganized movement on the part of party of
stockholders in Ontario & Western to effect
the dissolution of the voting trust is held
to account for the movement to-day.
Various opinions as to the source of the
buying were circulated, including the yot-
ing trust party the Canadian Pacific and
the Pennsylvania. No authority could be
learned for any of these rumors nor for
the assumption that the voting trust is to
be dissolved at all. In the lethargic condi-
ton which overcame the later market the
feature was the inroads made at new points
in the list of minor railroad stocks.
The Chicago Great Western stocks were
the most conspicuous groups of stocks to-
day. There was not the slightest evidence
of support for those securities, which have
shown little activity for a long time past,
except the common stock. Small amounts
or the stock were sold apparently for what
they could bring with the market bare of
buying orders on the way down.
No news respecting the specific affairs OF
the company was forthcoming, and the IN
cident was supposed to mark the general
fear that in period OF declining traffic
and possible rate competition for business
the small unattached railroads will be ILL
fitted TO compete with the great systems.
Amalgamated Copper rose q per cent.
when the reelection of the directors with
out opposition became known, but the gain
was not held.
ne subsistence of floods in the Southwest
was regarded with satisfaction, and it was
pointed out that Southwestern railroad
earnings from this time will make favor
riod of last year.
Railroad tralnc officials had no change to
report in the diminished volume of traffic.
There was a rather notable expansion in
the weeks movement OF corn. otherwise
the hand-to-mouth policy o. business and
industry in general was reflected in the
railroad traffic for the week.
Movements in the international exchanges
were toward the point for a movement of
gold from New York to London The money
market was unchanged.
Bonds were irregular, some of the low
grade bonds falling sharply. Total sales,
par value, 81. .S65, ,000 United States bonds
were unchanged on call.
Sales and the range: