The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-06-10

Thew sesa . mtni~r N fsnspns N svi.
Aness to-day, " tbs hiRd that of'sn sprrs'
eqses ~ less af1Haiy ~ hahitual sfeH'is
lsfses s~tpiseafafy n fha spaHhSas ~ tha
aoes ms,Fst yrs'eftsy ami fhtf mrfhina
A ami Hasi N fa.fp hss fssH hBHdH ~ 10
IN sub, Ntess fhine ~ atptg~ty M
estg,sbia abssarisg n fRa m1nfhtY 1bverHs
ssgs sfop eetpss fhag h ~ 10 isNied On
Wneasy II has ai ding hsHu r1hfed8d
mat Inc ssgg rf1pf hHi mtfefed @rnt"
dategi,fsfhte d1fief ~ ro NH ~ Nty
ow4DT Nv fhs drought IN 'hs sih'ef StteHs
Iait ami tts prevtleHes ~ Ahrnffnalf
@slI ant s,j6v easihsF IN the fnHfv NORTHERN
ssftrutts, ssrttpos Ys' ihe r%rf1rta ~
ceiy.J Nv ngd,ra fnsneisi iutsresta hers
FINN conservative and usually fris' wurthr
S,os,e. n information have inen airass
Vcjvefselly 10 fhe sfeci fha, th- cropa had
a,a,slpsd M sHrions dams@ aad h .
fbat, bfight pFrml-n w,a aihsfa nsially
o~plmpaifsd IN tho fofrrsft ~ the weekI
hswrv rt, Tho Ksn'uohy state otop fapoft
sbnweda sharp fail In Tho condi'inn NJ wheat,
and yessasisy tha Missouri state cfup
rrtori Appeared telling q deollns ~ 10
poiaga IN tina ssatiticsi svefaaH ~ wheat
oondt inna tharp To-day the report ~
ths Kanans Agricultural Bureau was fnada
public, although not until iuSt n, thu Gloss
Of b,tslnsss hours and this placHd Tho CON
dHion ~ wheat In that state on junn ! a.
10 psr ~nt. A. against ~ on May I and
II on june I last year Tho proSrht ron.
dltInn ~ corn In Kansas was pin NJ ~, M
aRnlnst ~ lnat yont The-a reports wer'
received In the financial community viii
a rood deal Of surprise, and, to speak
frankly, arc not grnrrally credited ~ iliis-
tratlnR the condition Of tho winter wheat
crop M a whole. The well known tendency
Of outgivings ~ tho various state aRri-
cultural bureaus IL 10 favor tho interests
Of the producers rather than the consumers
of grain. Nevertheless tho data aS fur
ished have led TO apprehension In speoula-
tive circles that the Governments crop
report on Monday may make "a poorer show
ing thar has heretofore been anticipated.
Again. speculative sentiment has been
n little perturhed bv the declarations Of
various prominent banker that despite
the ease in the money situation At the mo-
ment and the indications that money rates
might fall TO an even lower level In the
course Of the next two months the outlook
for the later portion Of the year was not
a. definitely clear, An important and
almost fundamental factor in the general
situation at the moment Ia undoubtedly
tho negotiations now pending In France
by the Pennsylvania Railroad Company
for the placing Of its $50, 100000 loan there.
II this credit Is extended In France It will
have an immensely favorable effect In both
a negative and affirmative sense, as IL will,
on the one hand, relieve fnanoiers here
from the necessity Of taking care OF the
loan themselves, and on the other will prao-
tically bring into the country 80 much
more new money. It is, however, officially
stated that the success OF the loan 10 not
vet assured. The fact that no end yet ap-
pears to be in sight OF the session OF Con-
gress and the wrangllngs In Washington
over the investigation of the beef packers
business have also figured as drawbacks
from the stock market point Of view. All
these influences are. Of course relatively
slight, but the present stock market Is mar
row and little things seem to swerve 1t one
way or the other.
The market to-day was heavy through
out, although not exactly weak. A fall OF
eight points in the quotations for Console
dated Gas stock attracted more attention
than any other one price movement. the
cause Of this being, presumably, an assump-
ton that pending the legal proceedings
instituted to test the oonstitutionality OF
the 80 cent gas law the mana gement OF
the gas company will not see its way clear
to increase the present low rate of dividend
distribution on the stock. The weekly
bank statement was hardly a factor in
the trading. 1t appeared from the return
that the loans Of the Clearing House insti-
buttons had increased since last Saturday
S7,e1e, 400, and that the banks had gained
In cash 81, 942, 100. The surplus reserve re-
NAMED practically unchanged The en-
largement Of the loans was commonly ac-
counted for as being due to the taking over
by the local banks OF maturing foreign
obligations, and the gain In cash was some
what less than expected in view OF the
recent heavy transfers of money here from
San Francisco. Wheat prices weakened
somewhat upon reports OF more favorable
weather conditions in the West, and cable
dispatches told Of an output of gold by the
Rand mines Of 461 POP ounces, the largest
one months production of the Transvaal
on record. Whatever the rapidly shifting
hopes and fears Of Wall Street may be, the
weekly reports Of the great commercial
agencies appearing this morning afforded
no basis for pessimism regarding general
business. The dominant feature Of affairs
In the mercantile and industrial world
appears to be that so far there have been
only the smallest evidences Of the dulness
in trade that is usually considered season.
able at this time. Prices of commodities
are everywhere firmly maintained, and rail-
way earnings and ban exchanges continue
to make pleasing compa risons with those or
former years.