The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-06-15
fATHING RELIEVES
{ LEVEL OF DULLNESS
Professionals Tried to Extend
tuesdays Decline
PEACE OUTLOOK IS GLOOMY
Weather Conditions Are Favorable,
ut Stock Market Refuses to Be
Affected BY Developments
In Crop Situation.

Sew York, June 1.-THE dead level Of
dullness in today's stock market was
not relieved by any notable Incident of in
terest. The professional traders, who
look to a movement of prices as med
ium for earning their daily bread tried
during the morning to extend yesterdays
decline. They succeeded In wiping out
the opening advances which had been
made in sympathy with the frmer tone
of the London market, but at that point
the narrow dimensions Of the market
again asserted themselves
1t was seen that the immediate selling
requirements had been met in yesterdays
market and traders thereupon worked for
an advance. As they had the market to
themselves they met with some success
This did not sgnalize any important de-
velopNent regarding the stocks, which
were moved on in the general situation.
Yesterdays market was accepted as a
demonstration that no new interests IN
stocks is to be looked for as a result
of peace prospects or of the Equitable Life
settlement. Developments regarding these
stocks were, therefore, followed with
rather languid interest.
There is some disposition, however. to
consider that the seeming progress made
In these matters is ilusionary This finds
expression in the opinion quoted from for
eign observers that neither of the pres
ent belligerents has any real hope or
peace as an outcome of the present nego-
tiatlons. In the Equitable Life matter the
presentation of the report Of the state SUI
perintendent of insurance is awaited. No
further steps in the plan seem to be In
tended until the report appears and judg-
ment on the efficacy and fnality plan
seems to await the same event. The i'm
portance attached TO these matters is due
to lack of any other obvious explanations
of the intense stagnation in the market.
Weather conditions We're reported favor
able today for the crops but the stock
market is not yet ready to respond to the
days developments in the crop situation.
Some more definite prospects as to the
final outcome of the crop Is what Is de-
sired, and 1t is realized that time must
be allowed for securing this. The stocks
which showed any appreciable movement
today were those of which are most ready
TO respond to an impulse in any direction
owing to the remnant of professional spec
ulative interest retained in them Dor
mant stock market pools are thought to
exist IN one or Two OF THESE. Sdihuiall
Pacific was responsive to sucn conditions.
Reading had some help from the favor
able conditions reported In the anthracite
trade Old rumors once more found cir
culation of mysterious developments to
come regarding Union Pacific.
The New York Central statement of net
earnings for the June quarter, partly es-
timated. was received with satisfaction
the balance available for dividends show
ing an increase of over 36 per cent over
that for the corresponding quarter of last
year The collapse in steel foundries pre-
ferred was of little effect. The incident
was regarded as the outcome of an i'll
Judged speculation, based on unfounded
homes of dividend disbursements and ag-
gravated by pressure by the lenders OF
the money which had been used in the
speculation. The duh advances of the