The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-06-07
STOCKS CAN'T AROUSE
CHANCE FOR SOME ACTIVITY is
NOT UTILIZED
Accumulation of Ontario e. Western
Stocks Give Appearance OF Activity,
but the Same Old Pond OF Apathy
Promptly Swallows 1t Up

NEW YORK. June 6-The accumula-
ton OF Ontario & Western stock in to-
days stock market had more the appear
ance or an active speculation than any
thing that has occurred in stocks since
the movement in Union Pacific in connec-
ton with the Northern Securities decision.
Inc general market proved itself almost
wholly lfreSponSiYe--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
dealing in Ontario & Western in the first
hour made up almost the bulk of the
whole market for the entire day.
The outcome of the incident had the
erect OF leaving 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 charac-
terized trading for some time past. The
organized movement on the part of a
party of stockholders in Ontario & West
ern 10 effect the dissolution of the Vot-
ing trust by which the stock is held is
said to account for the movement to-
day. Various opinions as to the source
! Of the buying were circulated. including
the voting trust party the Canadian Pa
cine and the Pennsylvania. No authority
could be learned for any of these ru-
mors, nor for the assumption that the
voting trust is to be dissolved at all. In
the iethargic condition which overcame
the latter market the feature was the
| lnroads made at new points in the list
of minor railroad stocks The Chicago
Great Western stocks were the most
conspicuous victims today, the common
losing over a point, the preferred 3 and
the preferred A 1879.
Securities Are Unsupported
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 accounts of the stock We're sold
apparently for what they could bring
with the market bare of buying orders on
the way down. No news respecting the
coming and the incident was supposed to
mark the general fear which has grown
up that In a period of declining traffic
and possible rate competition for business
the small unattached railroads will be i'll
fitted to compete with the great systems.
Amalgama ted Copper rose 81 when the
reelection of the directors without OPP
position became known, but the gain was
not held. The subsistence of floods in
the Southwest was regarded with satis-
factlon and 1t was pointed out that South
western railroad earnings from this time
on VIII make favorable comparisons with
the flood damage period of last year
railroad traffic officials had no change to
report in the diminished volume of traffic
the weeks movement of corn. Otherwise
the hand- to mouth policy of business and
industry In general was reflected in the
railroad traffic for the week. Movements
In the international exchanges were to-
wards the point for a movement of gold
for New York to London. The money
market was unchanged. 70
Bonds were irregular, some of the law
grade bonds falling sharply. Total sales,
par value, 81, $685. 900. United States bonds
were unchanged on call.
CioSinn I IS+