The daily morning journal and courier., 1907-06-21
LATE FEATURES OF
 TIE STOCK MARKET Another Dull Day With Fractional Changes. BANKS LOSE CASH. Call Money Higher and Stocks Lose Early
 Advance.

oLocKS Lose Early
 Advance.
 The stock market had the megrims again yesterday. Business was ex- tremely dull and when the exodus from the stock exchange to the race track set in, the volume of business was as small as it has been at any time in two years, Total transactions for the ses- sion were a little under 18O,000 shares.
 The tone of the market was uncer- tain. It had periods of distinct strength, from which it changed to decided weakness. The closing was heavy, with the days average below that of the day before.
 The dullness of the stock market dur ing the morning was we'll shown by the fact that during the first ten min- utes only sixteen different stocks ap- peared on the tape. Usually the first half hour is the busiest part of the day.
 LuS OSdllliS III JULIUS IS very llSlI. Usually that department of the market is active, in anticipation of the July reinvestments" and stock exchange sales of $1,0O0,O0O per day in bonds would be very small But that sum has not been reached on any day of the present month, and thus far in the present week the daily total has been less than one-half that of the corre- spending days last year, when bond trading at this time was admitted to be slack.
 In the late trading the dullness of stocks gave way to little activity, when prices reacted under the lead of New York Central. Union Pacific, Reading and others followed, and some 800 and 1,000-share lots came out This appeared to have been a "demonstra- tion' by the, bear operators to test the alleged ''sold-out" condition of the mar ket.
 A big brokerage house received yes- terday more than fifty reports from as many places in the cotton belt as to the present conditions of the crop and the prospect They were mostly bear ish.
 A further decline in the price of cop per metal on the local exchange was without any particular effect on copper stocks, when the news came out There have been so many reductions recently, though the chief producers have mean while held their selling prices at 25 cents and upwards, that Wall Street l has ceased to pay much attention to the disparity in quotations.
 A drive was made against Missouri | Pacific in the last hour when there 1 was nothing else doing in the market It opened ex-dividend of 2 1-2 per cent | at "A 1-4, compared with 76 yesterday. It was driven down to 72 1-2. Only a | few hundred shares were sold
 The insiders in Rock Island are not | taking any initiative beyond maintain ing that the stock is worth what the market asks for it. It is understood | that there is very good buying that | class of European investors who want something low in price and which off, | fers good profits for a long wait
 In addition to the regular quarterly | dividend of 25 per cent the directors of the Fifth Avenue bank of New York, yesterday declared special dividend of 150 per cent payable out of the ! earning of 1906, which President A. S, Frisselt states were exceptional
 Wall Street is watching the money market which yesterday again gave a hint that rates for the next three weeks are likely to discourage specula- tive operations. Call loans rose to 3-4 per cent, at which most of the renewals were made Sixty and ninety day money was harder, with six months money ruling at per cent. One reason for yesterdays advance was the weak showing of the banks in their transactions this week with the treasury
 The announcement of the settlement of the affairs of the Pere Marcuette did not attract the slightest interest, although according to the notice by J. P. Morgan X Co.,, a large number of the stockholders have agreed to sub scribe to $5,OOO.OOO of five year 6 per cent. debenture notes to the extent of 50 per cent. of their stock holdings.
 List of aPtents.
 List of patents issued from the Unit ed States patent office Tuesday, June IS, 1907, for the state of Connecticut, furnished us from the office of Seymour & Earle, solicitors of patents, S6S Chap { el street, New Haven, Conn. E. B. Allen, Bridgeport, assignor to Singer Manufacturing company, but I tonhole stitching machine. ". R. Corbin, assignor to Corbln i Cabinet Lock company, New Britain, aon4af. fo,- !.