Los Angeles herald., 1906-06-09
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BY Associated Press.

NEW YORK, June S-The professional
limitations of tho present stock market
were still manifest today. In fact the
slight evidence Of small, commission
house buying which was reported yes
terday and which aroused hopes that the
professional campaign was meeting its
first success in attracting outside inter
est was no longer perceptible today
Tho aggregate of the sales underwent
q decided shrinkage. The character of
the market was not materially changed
from recently prevailing conditions.
Fewer stocks were picked for a demon
stration to attract attention by large
dealings and rapid advances.
More attention was paid to the action
of the grain markets and the effect of
the government report on the June 1
condition of wheat was feared for the
unfavorable effect 1t might produce on
stocks when 1t appeared on Monday The
market weakened generally during the
first hour on this account. A better tone
developed when wheat was found to be
declining, but stocks turned downward
again later In the day. Some points of
special strength among tho Changers We're
due TO reports of good crop conditions
along those lines. Atchison was not
able example
group on account of the settlement of a
large consolidated bond issue In prospect.
The assumption that "a more active mar
ket is sought by some of the large imam
cial interests to assist the absorption of
new issues In hand was gwen credit by
movements in stocks of some companies
so situated.
The sharp advance in Delaware & Hud-
son was accompanied by active dealings
in the convertible bonds on the curb and
application was made to list the bonds at
the stock exchange.
The weeks currency movement did not
Indicate large change In cash reserves
but the easy tone of call money indicated
"A strong bank statement.
The loss reported on sub-treasury
operations of $639000 includes return of
government funds advanced to the banks
against gold Imports to an amount larger
than that and as the gold has arrived
this loss is offset
A small gain on the express movement
with the interior is also indicated. Gains
made late last week figured but slightly
in the showing of averages upon which
and the discrepancy is expected to be
rectified in tomorrow's statement
time money today, due to decrease in
amounts of offerings. The sterling ex-
change market continued to advance In
response to the earlier money conditions
and demand for remittance against ma
turing finance bills was said to be an inn
portant factor in that market.
Attention was given to published eX-
pressions by a prominent banking Off
cial in tone of warning against assump-
ton of security against money strin-
gency beyond the immediate future and
pointing to the requirements still unmet
for payment of San Francisco insurance
losses and the liquidation of assets yet
to be effected on that account.
The continuance of the injunction
against the enforcement of the S0-cent
gas law pending a decision in the suit
to test it's constitutionality caused fever
ish fluctuations in Consolidated Gas. The
closing was easy.
Bonds were irregular. Total sales (par
Value), $4250000
United States old As, coupon, advanced
"a per cent on call.