The Birmingham age-herald., 1905-06-30
ROUND WAS LOST } IN STOCK MARKET Notable Shrinkage in Dimen- Sions of Market
GRAIN MARKET AFFECTED
News of Odessa Has Influence, Since That Port Handles so Much Wheat-Coalers Were
 Prominent.

New York, June 29-Prices lost some ground on the stock exchange today and there was a shrinkage in the dimensions of the market which had more to do with character than the recession in prices. The money market yielded some premon- itory symptoms on the July settlements. Call loans were reported light, even while there was no marked change in the quoted rate and there was a consider able paying off on the part of the borrow CTS on call. This was evidently on the expectation that the borrowing tomorrow, which is to carry over until Monday, might result in a furry in the money market. The rise in call loans to above the price before close confirmed this view.
 The grave aspect of internal affairs in Russia and the outbreak in Odessa and the possible reflection on the market was received with great plaeidty, the price of French rentes making full recovery of an opening decline. Sterling exchange at Paris rose sharply HE cen times in the pound London discounts also recorded a fraction, notwithstanding the half yearly settlements and the price of gold receded in London. There was little change in the local exchange rate The immediate conditions therefore were all towards relaxation of the pressure upon New York for gold
 The news from Odessa was of more immediate reflection in the grain market on account of it's big exports business. The prospect of an interruption of the supply of wheat by means of the closing of that port contended as an influence in the wheat market with favorable wealth CT news from the home crop regions. Es- tim2tes wheat and corn received during the day were highly favorable There was also an early decline in cot ton The days news is thus seen to have supplied influences favorable to higher prices for stocks It Is rather notable, however, that the recent move ments of stock prices have been regarded immediate news developments, whether favorable or unfavorable. News bearing on immediate possibilities of course, how ever received close attention Thus the coalers were prominent today for their resistance to the reactionary tendency the rumors of a further increase in the Reading dividend being supplemented by the strong showing of May net earnings made by Reading, Ontario and Western Lehigh Valley. Canadian Pacific and Cleveland, Clnclnnau ana ot l1outS Weic sensitive to the relatively poor showing Assertions that higher dividends were in prospect helped them considerably.
 The Pennsylvania group, however, was subjected to decided pressure on realizing except Norfolk and Western. The same was true of the Pacifcs and the North western grangers, which were sharply advanced yesterday. The news which became known after yesterdays market of the admission of E. H. Has><man to the Erie executive committee was sup posed to account for this movement yes terday and for the revival of old rumors of Northwestern readiustments and com munications which accompanied it. The unexpected importance of a commission bouse failure in Chicago was the subject of considerable comment and was not help to the stock market. The number of small bank troubles of the last few days was also the subject of some discussion