The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-06-08
STOCKS ARE MORE ACTIVE
MARKET WAS MUCH BROADER YES
TERDAY THAN MONDAY.
This Development Encourages that
Present Low Prices Are Upon a Firm
Basis-Bonds Are Dull.

NEW YORK, June THE professional
contingent in the stock market started to-
day with very discouraging views OF the
hopes of any activity in the market or OF
any movement of prices. The failure OF the
market to show any response to yesterday
decided movement in Ontario & western
was made the basis for this hopelessness.
and the reflection of realizing sales in the
early one-point decline in that stock ag-
gravated the depressed sentiment.
But the market turned out better In tone
and in distribution of business than was
the case under the stimulating influence OF
yesterdays rise in Ontario & Western. IL
would be difficult TO fix upon specihc cause
for this development. as the current news
seemed TO have little influence on the mar
ket.
The weekly bulletin on the crops or the
Weather Bureau proved rather more IA
vorabc than was expected on wheat Tor
both the winter and spring crops AID the
favorable progress of the cotton crop went
10 accentuate the effect OF the government
report of the June 1 condition of that crop;
The bulletin was less hopeful as 10 the
corn crop, but the maturity OF tnal crop
is still so far distant as TO detract from
the. Importance attached TO its present con-
dition Favorable progress for the crops
is better calculated than any other oeVeI-
opment to settle the fuctuatlng opinions
over the business prospects of the country.
Hope seems to be thus engendered tnat
the present lower plane of business ana IA
dustry NAV be nevertheless on nrm OASIS,
with reasonable assurance against pro-
gressive decline to level OF prostration.
The rather constant ratio or the oeciine
in railroad earnings goes TO establlsn TINS
feeling A late recovery in Ontario & West
ern produced more effect to-day elsewhere
in the market than did yesterday more
sensational advance, and the klndred coal
erS were especially affected. Inc markes
was still far from being broad one ana
was almost wholly in professional hahus
so far as could be perceived.
The personality OF the brokers employed
in the late buying conveyed an impression
that some of the larger interests were
taking stocks, and the sensational erect
of the buying was thus enhanced.
The money market was almost stagnant
and rates were inclined to droop, though
with little money offering at the present
unattractive rates. The advance IN the
sterling rates at Paris TO % francs 1.12
centimes was a decisive indication that the
course of capital was no longer drawing
toward that center
Incoming gold TO the London market was
accordingly taken by the Bank of Eng
land with no demand for Paris account.
The discount market was yielding, both In
Paris and London. The market for sterling
here also yielded. thus deferring, IL not
averting an outgo of gold to London from
here. Prices eased off in the final dealings,
but the closing was steady.
The bond market was Irregular, with
weak spots amongst the lower grade bonds
Total sales at par value were $l143,VO
United States bonds were unchanged on
call.
Sol nd he