The Birmingham age-herald., 1904-06-15
STOCKS SHOWED
 GREAT APATHY Only Feature Was Slight Rally
 Near the Close MANY HOPES ARE BLIGHTED Consequent of Sentiment Was an ln- significant Drift of Prices With
 No Especial Current In Any Direction.
MANY HOPES ARE BLIGHTED

New York, June 1A-The stock market relapsed today Into an aggravated case of apathy and indifference and was w'tn- out feature except for a rally at the close. Yesterdays reaction effectualy blignted the hopes of revival of spec ulation which lad been gradually arous- ed by last weeks slow upward move rient of prices. It became quite maniiest today. howevel, that the traders were to reap little advantage from price move nent in any direction, and the seillns spent It's force The consequence was an Insignificant drift of prices with no espe- oial current in any direction.
 sAn abertive movement of prices con firms that conviction tkat lengtneneo period of speculative conservatism IS to be expected, and adds to the indisposition to undertake operations of any magni- tude in the market. Attention is directed to the announcement of withdrawals from business of stock exchange houses and departure for long trips or former great operators muc-l looked to Tor leao- ership of great speculative movements Curiosity is manifested to see how Tar the turning of the half year and or the full fiscal year for many accountings may be fixed for winding up of business analrs and of partnership dissolutions.
 A strong influence upon the rise in prices was the sympathetic effect Of the strength in the traction stocks, led by Manhattan and shared in by inter-borough rapid transit on the curb. The dividend on the latter stock out of Manhattan excess earnings was an indication of the large current earnings of the passenger Transportation companies in New hork Man. rumofs were circulated also 10 ex- plain the demand. A plan to lis' Manhat- tan and inter- borough in London was sus gested and there were old stories set sf1oat of a comprehensive merger of the New York and Brooklyn companies.
 The weekly bulletin on the crops, issued by the weather bureau at Washington ae noon, was abundantly encouraging on the progress of wheat and cotton, and the slight tone of conservatism on the corn crop was not alarming. Reaction followed with some special pressure against the coalers. This was due to specific reports that proceedings against the coal com bination had been determined upon as result of the investigation conducted by the interstate commerce commission Reading was carried slightly below last night on the reaction. The market rallied quite vigorously late in the day led again by Manhattan, which rose 9A. number of the active railroad stocks also moved up a point or more and the market+closed strong.
 The rally was helped by rumors which circula ted in the board room that set Element had been arrived at out of court of the Northern Securities dispute.
 The inquiry for bonds was broad and resulted in moving many long dormant issues. but sales were effected in some cases at concessions. Large blocks of some of the standard investment bonds changed hands. Total sales, par value. B. 295. GOO. United States bonds were un- changed on call