Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-06-04
Stocks Were Weak and Sold for
Both Accounts,
TRADING AMONG PROFESSIONALS
Recent Advances Are Now Credit.
ed to Manipulation.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK. June 4.-Today's stock mar
ket was irregular and lacking in real BUSH
ness. The closing Of steel plants and some
taiiihg on In commercial activity gave
traders an excuse for further selling wher-
ever profits existed there was an apparent
Willingness to take Them and in some In
stances the short account supplied stocks
which have been leading the rally The
monday In London emphasized the local
duilness which at times resulted In pro-
tracted idleness
commission houses changed front very
suddenly and gave no assurances of A
broader market. The railroad list sold on
tractonally at all points. and in one In
stance a surprising lack OF support was
SiscIosed' A few competing orders in
Southern railroad preferred forced a con-
cession of nearly per cent in price he
lore attention was directed to the absence
OF support. The subsequent rally was we'll
renamed. but developed no new business
ne racine shares were opened at general
oechnes and sold off fractionally under
mixed sales. The grangers were depressed
from time to time. Burlington showing the
eHectS OF realizing sales and forcing neigh
porlhg shares into a sympathetic decline
Atchlson preferred. with dividend rumors
running strongly in its favor, failed TO gain
new strength.
Altogether the market reflected the sus-
piclon that manipulation had done moro
IMAM anything else to advance stocks and
would suddenly give way to more natural
lnTuences This view had marked eff
feet upon sentiment. but failed to create
any pressure to sell. The professional ele-
nient traded both ways. but was more rest
commitment.
The meeting OF sugar directors tomorrow
Will discuss the dividend for the current
quarter, and the impression in well-in-
IJr ,hsd circles Is that the per cent rate
continued rin -
To-Day showed this expectation, short in
terest forcing up the price in order to close
It's contracts until the question Is settled
This movement In sugar was the one nosi
tive evidence of strength reflected in tba
days market AS was the case last week a
good volume of stock came out above 10
Inc steel stocks were opened at substan-
tial declines as the result of the closing of
the Illinois Steel Companys' plant There
was good buying at the decline, however
ana the low prices were not allowed to pre-
van. Recent heavy liquidation in this group
mas about exhausted speculative interest
and the future developments in the iron
ana steel trade are more likely to find re-
nection In the general market than in the
securities directly concerned.
The companies of merit have had their
shares cut down to prices which fully re-
Meet the trade Generalization, and future
difhcuities will be taken a reflection Of
lines will feel the effect
The adjournment of Congress and tho
frst political convention are relied upon to
give some encouragement to holders Of
long STOCK: but 1t Is very doubtful If such
holders will be moved to add to present
holdings until later in the summer
There may be no monetary disturbance
curing the campaign, and disastrous set
backs may not occur. but bargains are ex-
pected. and whether they materialize or
not. they will be waited for This deter
mination to wait is the chief cause of the
present embarrassing market.
The final hOIr W dull
spite OF the effort to bid prices I'D In order
to impress London tomorrow.