| Show ATTEMPT TO liFT PRICES FAILED Concerted Movement in Wall Street Flattened Out F RISE IN CALL MONEY RATES CLOSE WAS ABOUT WEDNESDAY NIGHTS LEVEL New York June was au an abortive attempt to stir up activity on the stock market mark t in the first hours of the session on which resulted in lifting a few stocks to a considerable higher level than yesterdays closing The movement flattened out completely The opening advance had Its incentive in the higher level for London prices based on the belief in a hopeful outlook for peace Although the prospect for peace to the of the American government the interest in the matter by the stock market is of the most languid charac character ter The uplift of prices was purely sympathetic with London and the act actual actual ual transactions for foreign loreign account were Insignificant in amount The small selling attracted by the higher range of prices however invited some additional attempt to move the market upwards The efforts c centered on a of stocks amongst the and Southern mil railways ways and Including Amalgamated Copper The operations in the Southern group were attributed to a newly formed pool or a rev revival al of an old pool Very favorable showings of gross earnings being made the rail railroads railroads roads in that region were made the basis of the movement The large production of anthracite is isa isa a favorable factor for the The movement attracted no important fol following lowing Ver Very favorable conditions for forthe the growing crops were reported but a sufficient period of uncertainty remains before the harvest to prompt a delay in forming definite conclusions on the outcome The inertia of the United States Steel stocks was almost corn com complete influenced by the absence of an any indications ot of revived activity In the theiron theiron iron markets This proved a burden on sentiment towards the whole market The slow fight which is being out in the Equitable Life still sUII exercises a influence on the stock market and causes a dread of possible possible ble unfavorable results of a far reach reachIng reaching Ing character In the investment de demand mand for Cor securities in the future Th rise in laU money rates was at attributed attributed to the redistribution of funds on deposit which are the proceeds eds of the Japanese loan subscription amongst various financial institutiOns and the intimation was conveyed that these thes funds are likely to he be loft left on deposit here for an Indefinite period Die Dis Discount count rates declined in London and amI foreign banking houses were reported as placing loans in this market Stock commission houses also have funds to lend owing to the extreme dullness of the stock market markeL The hardening of the call money rate was regarded as pure purely purely ly temporary Only a remnant of the thedas days das gains was as preserved and the average level of prices was cantly changed front from last night The peace rumors made the Japanese bonds bond strong The bond market gener bener generally an ally was dull and steady Total sales par value United States 35 registered advanced p per r cent on call |
