The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-06-17
ANOTHER FULL DAY
OF LIFELESSNESS
Little Squirt in Reading Was
Only Exception
JAP BONDS ARE ACTIVE
May Foreign Trade Statement AT.
forded Gratifying Evidence Of the
Expansion of United States
Foreign Commerce.
JAP BONDS ARE ACTIVE

New York, June 1s.-Today's stock mar
ket dropped another notch toward the
condition of absolute life1essness. There
was little squirt of activity in Reading
and some special demand for the certifi-
Gates of the United States leather stocks
If these are deducted from the days
total the remainder will show as low an
aggregate of sales as any full day in
over four years. The movement in Read
ing was encouraged by the bull resis-
tance which that stock has offered to the
weeks depression and to rumors in cir
culation once more of a proposed Increase
in the dividend rate. The dealings in the
United States, Leather company's certifl-
Gates was based on an assumption that
the Forthcoming issue of the new securi-
ties will be made the occasion Of some
market activity for their benefit.
The comparative activity in the Japa-
nese ~ per cent bonds which have been
In demand since the news of the battle
of the Sea Of Japan proved an inviting
field for the professional room traders,
bereft of any other opportunity of offer
ing sufficient price movement to yield
n profit on the days turn.
the tax which applies to stock transfers,
thus stimulating the trading in the is
sue By professions. Outside of these few
special movement the market was in a
torpid state. Many of the most prom
ineDl stocks were not traded in until
late IN the day and in some cases were
not traded in at all. There was no trans
action in St. Paul until 1870 O'Clock The
supposition has been made that the iden-
tity of the purchased of the majority
stock of the Equitable Life Assurance
Society and the terms of the deed of
trust to the voting trustees were await
ed to release the market from It's dead
lock The publication of those facts this
morning created not a ripple In the
market.
1t is now surmised that the delay is in
expectation of the report of the state
superintendent of insurance. The report
of the weeks currency movement ex-
cited only languid interest as the prin-
ciple is tied to the loan item. The money
market shows some effect of the prepara-
tions for the half yearly settlement Quo
tations are largely nominal owing to the
almost total lack of demand for time
quotations and express hopes of better
rates later in the year.
The May foreign trade statement az
forded gratifying evidence of the expan-
sion of our foreign commerce. OF the
increase IN the value of exports for the
month of $4,000, 900 compared with May
of last year it is known that agricultural
products furnished $22.OO0.ooo. The diff
ference goes to the credit of an increase
in manufacturing exports. Much inter-
est will be felt in the latter statement
NJ the details of the movement in order
70 ascertain how far the export Of steel
products have been stimulated by the
irll in the domestic trade situation. The
signs of nervousness in the grain market
had no echo in the stock market. Aside
from the Japanese Az per cent certih,
cates the bond market was dull and
irregular. Total sales, par value, A,-
B10,00
United States bonds were all unchanged
on call.