The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-06-17
STOCKTRADERS IN
CHERRIES MOOD
NOTHING DOING IN WALL STREET
AND NOTHING LIKELY.
Summer Dizziness Comes Upon the Elk
change and Even Peace Prospects
and Settlement of the Equitable
Trouble Have Little Effect-London
a Seller-Lawson Apparently About
Played Out as a Market Influence.
Special to The Journal.

Special to The Journal.
New York, June 17.-Stock market followers
are far from being in cheerful frame of mind.
Indeed appearances are that summer dizziness
and stagnatiOn have already set in, and that
there will be no activity worth the name until
the fall Most people incline to the '.bull'
side, but there is nothing on which to put up
stocks, and consequently they will probably sag
indefinitely. Some of the 'big people, are
already leaving the street for their annual
vacation, and there is no indication that they
will be in a hurry to return. The smaller
brokers and traders have been hard hit by
the transfer tax, and are not inclined to in
| crease the funds of the state of New York by
making deals which fail to bring them profit.
II am satisfied, said a conservative operator
today, "to see the market remain in this
dition for while. The professional element
Is unable to go very far with it in either
direction, and in my Judgment the only thing
that can start it up again in earnest is for
some group of powerful interests to show their
hands. Until they are ready to do that, we
shall have to wait. l find that good many
persons are waiting for the details of this
Equitable transaction. Others waiting for
more definite assurances of peace. Still others
are waiting on the crops. l think myself that
| the Equitable situation is out Of the way SO
| far as Wall street needs to be concerned, and
also that peace will be arranged between Rus
| STA and Japan, but l content to wait until
the outcome of the crops may be anticipated
with reasonable certainty. l know, for eX-
| ample, that some large corporations which are
| expected to increase their dividends this year
will be governed by the outcome of the crops
| Nothing seems to stimulate the public,'' re-
marked another trader. eve are told that
| after the elimination of the Equitable affair
and the beginning Of peace negotiations, invest
ment buying will start. but the public, as the
| term is generally used has been out of the
market since 1901, and from all appearances
| it will be time before confidence will be
| restored" sr.. IT,. .-...'.... - 49,. -
! London Seller.
/ London selling this week was inexplicable in
view of general strength abroad of government
| bond ISSUES, consols rentes, Japanese and Rus
sian securities alike advancing, the latter being
| especially prominent. Apparently the continent
| was not so carried away with the elimination
| Of uncertain factors to overlook an oppor-
| on American stocks. kilograms from Thomas
| w. Lawson of the usual sensational character
| were made the basis Of attack upon certain
stocks, tho finding no attention in good quar-
| ters.
eff Lawson is not short of the market, why
is he spending so much money in kilograms
and advertising to depress it?' remarked
trader This had reference to wire in whici
the aforesaid operator was Offering 81, 900, 900
to anybody who would prove that he had beer
short of 200 shares of stock balance during
the past few months.
| 1t is tremendous gain TO the stability o.
values and the prospects Of the future to have
| start made toward bringing Russia and japan
together in a discussion Of settlement Do
nestle spectators, bearing in mind the sym
pathetic influence at this juncture of the phase
! of the foreign situation, will do well, in thu
opinion of experienced observers to watch thu
prices Of various foreign securities, rather thai
the sensational news stories rumors whicl
are bound to fill newspaper columns until peac
Is finally declared. it becomes evident tina
the must be renewed. Whatever doubt ma
exist among domestic investors critics of tn
markets. 1t has been demonstrated by the move
ments on the foreign bourses for some tim
past that the old world will interpret progress
toward peace and an actual establishment o
peace as influences. for the betterment Of prices
| Tro,, ood C+an1
Men who have figured prominently in the stoc
market for the last ten months have made
careful investigation Of the iron and steel situa
| ton and thoroly convinced that it is YER
men claim that there is nothing to indicat
Generalization in the trade in the near future
but that, the other hand conditions ar
healthful and promising. These men and a
who have considered the situation in broa
way realize the Importance Of having exec
lent iron and steel business. They believe tina
as the conditions are more generally realize
they will be reflected in the stock market
a marked degree. The present lull Is probabl
to some extent being made the most of b
foundrymen and others who will soon have
. buy to meet the second half Of the years re
!, quirements. If those interests work price
. off somewhat by declaiming loudly about 18th
dullness in the iron trade" they plac
their orders for the next six months to bette
advantage. +
1t now begins to look as if gold exports woul
: not develop for some time to come, owing to til
fact that rates of interest at this center al
higher than they are at London, Paris Or Berli1
Cnh