The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1905-06-10
| AGNANT DAY IN
Z THE STOCK MARKET
Even the Squirt of First Hour
Was Lacking
POOL THOUGHT TO EXIST
Marking Up Stocks In Southern Group
Attributed to Operations of
the . ew Remaining
Traders.
POOL THOUGHT TO tXISl

New York. June 9-Todays stock mar
ket made further progress towards CON
ditlon of absolute stagnation. Even the
ternorary squirt of the first hour which
mad come to be expected as the result Oh
the testing efforts of traders to ma an
available course for movement OF prices
was lacking
The first hours dealings today were only
slightly above the average. The marklhs
up of one or two stocks of the southern
group late in the day was attributed
to operations by few of the traofs
who have not abandoned the market en-
tirely 1t is supposed that a pool exists
in these stocks. The narrow fluctuations
of the market maintained some appear
ance of coherency early in the day, but
the latter movements were entirely con-
fused and irregular Such market can
have only negative significance Inc
movement of prices suggests no hterpre-
tation, but the Idleness in Itself Is an IN
dex of the condition of doubt ana I'M
certainty which Expresses speculative SEN
timent. Some influence is attributed TO
the fact of the coming whitsuntide holi-
days in London, which drove the London
market into a condition of idleness al
most equal to our own
The heavy falling off OF activity OF the
trading is responsible for the sharp de-
cline in price of stock exchange seas,
sale being reported at $4,000. The prev
ious sale ten days ago was at $3.50, and
the high price of $4,000 was paid within
the year Some of the disposition to defer
operations was attributed TO the desire
to know the completion of otmorrow $
government report on the June eendl-
ton of the grain crops. The wavering
movement in the grain markets indics@ al
some unsettlement over the immediate
prospects 1t is not expected that any
pronounced position will be assumed IN
tie stock market ON the basis OF tine
years harvest until the critical period
of the crop several weeks hence has been
passed
rhe Equitable Life affair furnished no
INN djate incident for discussion today
but its great influence la deterring of the
fnany ventures in the stock market Is
unimpaired. Opinions over the bank state
ment are mixed owing TO the large special
operations which have occurred, inelud-
mig the shifting of deposits incident to
the transfer of the japanese loan pro-
ceeds. Call money was slightly hrmer
ali not enough so TO ne an influence.
S, me consideration is beginning to be
81 ell, however, to the preparations LOT
the half yearly settlements. The usual
div dend disbursements have more than
the customary supplement in the demand
to replenish reserves by the trust com
parns. 1t is expected that the operations
Of lis week have been to the advantage
uf The trust company reserves at the eX-
p.usf of the bank reserves. The sub
trca. ury has absorbed during the week
about 81. 500 GOO more than the banks nave
saine6 ON the interior movement.
Sen.e large changes in the various items
Of me bank statement are likely to re-
suit There was more variety in the bond
market than in the stocks. and prices
there were well maintained. There @as an
active speculation in Central of Georgia
Income bonds.
Total sales. par value, s2,77o,ooo. United