The times. [volume] (Richmond, Va.) 1890-1903, 1900-06-12
STOCK MARKET
CLOSED LOWER.
After a Day of Great lrregularitv in
Price Movements.
OPENING GENERALLY HIGHER.
But by the Closing Hour all the Gains
Had Been Wiped Out-Bonds
Were Dull and Inclined
TO DC Heavy.
OPENING GENERALLY HIGHER.

NEW YORK. June 11.-After a day of
great irreSularity in the movement of
prices and an extremely narrow interest
In the market prices of stocks generally
lower and on the down grade. There
We're one or TWO periods of fiTmness and
a few special features of strength: but
practically all the gains were wiped out.
The market opened generaIly3 higher in
sympathy with better tone abroad:
Estimates by arbitrage houses Of buying
by London place the number of shares
upwards OF 2o,00o. Advantage was
to realize, and the level OF the market
iell below Saturdays close. Missouri Pa
c1fic ran OFF over q point, and The granS-
erS were under pressure on the ground OF
continued drought in the Northwest, to
which was attributed the furiouSly active
and excited wheat market. Buying II
Reading first preferred and of Northern
Pacific turned the tide OF prices upward
again. The trunk line railroad stocks. led
by Baltimore and Ohio, showed some de-
gree OF stf'.agth 1NNe late reaction IN
The market had its INCEPTION in Northern
Pacific. The stock fell away on the an
nouucement that the meeting to con-
siQer the rate OF dividend, vyhicn had been
set for Wednesday, had been postponed
TO Friday to await the arrival OF an intiu-
entail member OF the, voting trustees
Baltimore and Ohio showed the closest
sympathy with Northern Pacific. on ac-
count of Mr.. Hills large influence in that
company The extreme decline in the
Two stocks was rs for Northern Pacific
and Il. for Baltimore and Ohio. The
whole market ran of and closed about
steady, but without any tendency to re-
cover. Some OF the strength of Ameri-
cans in London was due 10 a report that
there had been rains in the spring wheat
belt, but the developments in the wheat
market, of course, counteracted this.
The principal influence in Improvement
of foreign stocks was the more cheerful
tone of the Berlin market ard the belief
that the crisis in money affairs there
was passed The strong return for the
week OF the Imperial bank of Germany
advanced again to-day, and in New York
both the sterling exchange rate ana the
rate on Berlin rose i fraction. notwith-
standing The purchase here of stocks Tor
foreign account The late weakness OF
the market was no doubt partly due to
the report which found currency near
the close. that gold to u considerable
amount will be shipped by next Thurs
days steamer from New York to the
Continent
The bond market was very dull, and
was inclined TO. be heavy, though there
were few exceptions. Total sales, par
value 81 .625. 900. United States new Is
aranced u in the bid price.
The total sales of stocks to-day We're
2j29O0 shares, including Atchlson pre-
ferred, 1860; Baltimore and Ohio. T.
1uO; Burlington, f1.i00; Rock Island,
7lo5; Missouri Pacific, i4,olo; ReadiilS
first preferred, 10,S00; ST. Paul, 10, $50;
Southern Pacific, $3.50: BROOKLYN, $3.50;
Federal Steel, 9,100; Sugar, 9,3oO; Ten
nessee Coal and Iron, o,3tD