The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-06-06
NESS BORDERS
ON STAGNATION
Steel Was First TO Recover
from Decline
pEAnE TAtK Has AEEErT
PEACE TALK HAS AFFECT
Railroad Traffic officials Speak In a
Cheerful Tone of Business Pros
pects--More Hopeful Feel
ing About Crops.

New York. June 5.-Most of today's
small business in stocks was done during
the first part of the season. There was
a noticeable congestion of the dealings
In few speculative favorites. But such
as it was the market showed distinct
frmness.
The dullness appeared at times to stag
nation and there was nothing to show
any share in the market on the part of
any but the professional element
Amongst these the sentiments seemed to
be cheerful and various pools signalized
their existence by their activity IN
special stocks. The market had one
decided set back on realizing after the
opening advanceA and another at the
last which reduced prices at the closing.
The profit-talSing was especially large in
Amalgamated copper which had risen a
point and then fell back to a point below
Saturday after the publication of the
financial statement of the company.
The sympathetic effect of this relapse
carried back the whole market. United
States steel preferred took up the van
of the recovery, and was in its turn a
strong sympathetic effect on the general
list. Ontario and Western was again in
large request and rumors were revived
of the guarantee of a dividend by New
York Central and New York, New Ha-
ven and Hartford. Amalgamated did not
revive effectually- from the effect of the
realizing movement and closed at a net
loss of IL The taking up of the advance
by the United States steel stocks was
regarded as of good augury for the whole
market as the persistent heaviness OF
these stocks has been a drag to the &C.
casioned tendencies to rally through the
last few days. There were rumors of
favorable earnings making for the cur
rent quarter in connection with the adj
vance.
Negotiations looking towards bringing
about peace between Russia and Japan
had its effect. The subsistence of the
violent storm in the Equitable Life con-
troversy was relief to sentiment, al
though that subject continued to be ac-
lively discussed in the financial world,
and to be regarded as fraught with pos
sibilities of further harm. Railroad
traffic officials spoke n a cheerful tone
of BUSINESS prospects, the volume offer-
ings being held well above last years
level A free movement of grain con-
tributed to this result which was stimu-
lated by the closing up of May deals
and was not expected to be fully MAIN
tanned Weather reports showed favor
able conditions for the various crops,
although this was modified to some ex-
tent in the case of grain crops by re-
ports of rainy weather. The feeling about
the crops on the whole was more hope
MI than recently prevailed and contri-
bnted materially to the firmness of stocks.
The money market retained it's unruffled
surface, Notwithstanding the weakness or
the Saturday bank statement and some
further large money transactions, IN
Guiding a transfer through the sub-treas-
ury of $1,000 900 to San Francisco. me
market showed itself soft to the effect or
nroat taking by the room traders and
closed heavy with the gains much re-
dliced or wiped out.
Sonds were irregular. Total Sales par
value, s251O,O00
United States bonds were all unchanged
on call.