The Birmingham age-herald., 1904-06-02
STOCK MARKET
 SOMEWHAT WIDER Usual Market Leaders Were Sluggish and Neglected OTHERS SOLD OFF SHARPLY Implied Possibility of Some Ultimate Combination Between Number
 of Roass Has Marked
 Effect.
OTHERS SOLD OFF SHARPLY

New York, June 1.-There was a slight ly wider movement of prices in today's s stock market than the recent average, but this was largely confined to special stocks of the dormant class. The usual market leaders were sluggish and ne- glected and their narrow fluctuations can- not be accepted as indicative of any widely held opinions on the market. Many of the low priced stocks which sold off sharply today have had the appear ance of speculative affinities in the past under pool manipulation, and the sug- gestons put ahoat in the course of this past manipulation have implied pos sibility of some ultimate combination be- tween a number of such roads, small in themselves, and of small financial impor- tance with no dividend distribution on their stocks and with more or less mys- tery maintained regarding the actual earnings and operation.
 The common interest In these stocks of q speculative party of some consequence has constituted vantage point for specu- lative operations in the grade under this leadership. The selling of these stocks for the last few days is attributed by the sellers to the fears that the holders of the speculative party have been largely reduced and supporting measures for the securities in the market abandoned. The downward course of the railroad earnings destroy the hopes of dividend which were distantly prospective at best
 The course of events following the breaking of the corner in cotton and the speculative collapse incident to it have hna irr IoAsx tlo towards the stocks thus involved. A mum Der of the southwestern stocks suffered also from professed uneasiness over their financial prospects. One to two point losses resulted in the Colorado and South ern stocks, the Toledo St. Louis and Western, the St. Louis, Southwestern stocks, Missouri, Kansas and Texas pre- ferred and some others. The heaviness elsewhere in the market was largely in sympathy with that In these special stocks. News was taken little account of.
 Reports of further large curtailment of the iron output in prospect helped to de- press United States Steel preferred and were an influence on the general market. So were reports of additional railroad re- trenchments and some reflected effect from this on railroad equipment com panies Continued large demand for an- thracite made the coalers relatively firm, and there was besides some demand from shorts to cover in the Erie on their re- cent drop A number of reports of net earnings of railroads for April showed the declining tendency still in force.
 The money market showed no change from it's almost nominal character, but the tone of time loans wes reported to be very easy, with little demand. Sterling exchange made a further advance There were some recoveries by the weak stock, and the last prices in the general list were little changed from last night. There were sales at a decline of S5ia points Of the Detroit Southern As, the June coupon, on which it is proposed 10 fund, and the same companies, Ohio Southern division As, on which the interest does not fall due till September, lost 10 points.
 The bond market was dull and irregu- lar total sales, par value $1,445000.
 United States 2s and the 3s registered advanced 1s The 3s coupon, the old As and the new As registered advanced IA, and the new is coupon # per cent on call