Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-06-06
Little Speculative Activity
Marked Days Dealings.
THE PRICES DRIFTED
AMALGAMATED COPPER'S PROS
PECTs SUBJECT FOR COMMENT.
q. s. Steel Continued Fairly Active
Railway List Sagged In General
The Bank Situation.

Special Dispatch to The Star
NEW YORK, June 6.-Nothing hap
pened today which furnished any strong
incentive to speculative activity in either
direction and In consequence prices drift
ed back and forth in an aimless fashion
and upon very small volume of bust
ness. Stock market inactivity Is quite an
ordinary phenomenon at this period OF
the year. with the daily transactions, for
example, in the corresponding week or
1904, only about 100000 shares. notwlth-
standing that the drift of prices was dis
tinctly upward
AS is usually the case, however, specula-
tors in stocks looked around to find some
specific explanation for the dizziness pre-
vailing in the market. To this class satis-
factory reasons were found In the further
occurrences in the affairs of the Equitable
Life Assurance Society, the resignation or
the French minister of foreign affairs, the
rumors of the assassination of the czar.
the tax on stock transfers and other mat
tiers none of which would have been &C
corded much attention in different market
circumstances.
The temperance before notice of Mr..
Thos. w. Lawson with characteristic
criticism yesterdays Amalgamated Cop
per report attracted certain amount or
attention on account of the relative weak
ness and great activity in Amalgamated
Copper stock. AS matter of fact. while
q single years balance sheet furnishes I'M
satisfactory data from which to draw con-
illusions with respect to the condition of a
corporation. II seemed to be still the COM
mon opinion that the Amalgamated COM
pany bad made laudable start, and Is at
the present time enjoying fair degree or
prosperity.
Amalgamated Prospects.
The fortunes and the dividends on Anal
gamated Copper depend altogether, OF
course, upon what prices the constituent
companies receive for their product, and It
would seem to be the case that present cir
cLmstances in the copper metal market
point to the maintenance for long period
of something like the ruling prices.
The United States Steel shares continued
fairly active. and were comparatively
steady. though by no means showing the
exceptional strength they did yesterday.
Price movements for the most part in The
industrial quarter weres irregular and re-
dictionary. with a particularly sharp break
In the Steel Foundrw. The last-named in
cident. however. probably appealed to a
very limited following.
The local traction stocks gave a renewed
demonstration of their ability to move
counter TO the remainder of the market,
showing decided hrmness. for no particular
reasons that became matters of public
knowledge.
The railway list in general sagged away
slowly on very small transactions. The
most active features there were the Pacific
stocks. Reading st. Paul and Pennsylvania
Notably firm features in this quarter were
Norfolk and Western and Missouri Kansas
and Texas. the first on dividend expecta-
tons and the latter on the very handsome
increases In earnings which 1t is showing
IN. common with the other southwestern
lines. The regular weekly weather bulletin
OF the Agricultural Department was by far
the most favorable document of the kind
that has been published in more than a
month. but II had as little reflection in the
chicago grain pit as in the New York stock
market.
rms mornings figures of the operations
between the banks and the subtreasury
since the compilation of last weeks bank
statement show cash loss to the former
or more than s2.3O0,000, caused, of course
Dy the further transfers of funds to the
Pacific coast. Notwithstanding this draft
upon the banks limited reserves today s
money market showed little change during
the greater part of the business section.
1t was intimated, though, in Washington
dispatches, that IN view of the bank posi-
ton of New York and the approa ching
heavy payments incidental to the close Of
the fiscal year the Treasury Depart
ment was considering the wisdom of post
poning the withdrawal of the government
balances from the national banks from
July l until two weeks later.
London was a wholly negligible factor In
the local dealings.