The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1904-06-28
STOCK MARKET
STILL LISTLESS
The Hope of New Life This
Week Not Gratlfied
PRICES SLOWLY DROPPED
Reports of Rain over Sunday In the
Winter Wheat Bell Were Received
With Observation-Disclosures
an Important Factor.

New York, June H.-There was hope
and some explanation in the circles of
professional operators in stock that the
new week would witness an expansion of
the dealings and broadening of interest
In the market. The market proved even
more listless and sluggish than usual.
Last weeks hardening of prices and the
good tone with which the little proht-
taking at the end of the week was abb
Borbed were the basis for hopes that the
rising movement would gain force and
attract outside demands. Stunning up
of general conditions bore out some OF
the forecasts upon which it was supposed
last weeks advance was based. But the
new demand for stocks failed to develop
md the disappointment compelled prices
TO drop after the opening. The later fuc-
tuations were languid and totally indif-
ferent Railroad officials in their custom
Bry weekly discussion of traffic expressed
a feeling of encouragement for the first
time in many weeks and professed to see
some actual growth of the movement OF
merchandise. The lake competing lines
were an exception, the reopening of lake
navigation with the settlement of the
strike serving to turn back some traf-
tc to the water route which was divert
ed to the railroads during the strike. But
officials of western and southwestern
railroads asserted that the stagnation In
business seemed to be passing Reports
of gross earnings for the third week of
June showed a majority of increases over
Jast year, but some of the important sys-
TENS reported decreases.
Atchison's net showing for May cost
1t the gain made early on the circulation
Of rumors that an important holding was
being built up In the property in the in
terest of Union Pacific. Hooking Valley
and Wisconsin Central also made poor
Showing Of May net earnings. Reports OF
vain over Sunday in the winter wheat
belt were received with dissatisfaction
but the weakness of the wheat market de-
prived this news of any great influence
in the stock market. Attention In fl
nancial circles is very keenly alive, how
ever, to all developments throwing light
TN the conditions of the crops The heavy
loan expansions of the banks last week
was good deal discussed notwithstand-
Ing the present redundancy of the money
market A desire Is felt to know how
far the expansion may be due TO corpor-
alton borrowing which would be regarded
unfavorably, or how far to prepare for
the usual half-yearly and periodical set
Element on July 1, which would be view
ed with Indifference as a temporary con-
scition. LONDON sold quite freely in this
market A bank suspension In Saratoga,
although placed in the usual ''unimpor-
tant' class, had its usual effect in chill
ing sentiment as an individual instance
of a prevalent general condition. Price
changes proved to be entirely rinsgnifi-
nd of he mn -Ir at
was heavy. There was an appreciate
investment demand for high grade bonds
but the price movement was irregular.
Total sales par value $685. 900.
United States Is declined y and the old
Is advanced * per cent on call.