Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-06-12
Stronger Tone to the Entire Stock
List Today.
CONSIDERABLE SHORT COVERING
There Was No Great Volume of
Business, However.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star
NEW YORK. June l2-Opening prices
TINS morning We're moderately steady and
held Well during the day under mixed trad
ing by the room London sent over a range
OF prices slightly higher than the local
closing parity and some buying was report
ed from that center South African adj
vices We're generally construed to be en-
couraging IN spite of the losses reported
yesterday, and continental buying was con-
strued 10 mean a more hopeful forecast of
the Chinese situation. Local interests bid
up prices from time to time and every on
portunty to force covering was seized upnn
by the room
Ihere was no increase In the volume of
commission business and outside of the ar
gument that the market was oyersold there
was no news to influence buying even
among the profe ssiona's. The rumors of
gold shipments. which helped depress the
ma rhet at the close of yesterdays business,
tailed to cause any alarm this morning.
Inc market shows very clearly the neces-
sity OF liquidation If the short account is
10 become profitable. An advance for auy
cause would encourage such selling per-
haps. but there is quite as much difficulty
in getting pubic interest in the long ar
count as there is in forcing a reduction of
present holdings
There is a following who cling to the view
that the convention next week will Law such
stress on the prosperity of the last four
years as TO obscure the prospect of the re-
ceding movement. On this account some
buying is inspired from time to time hut
the movement lacks force
Northern Pacitic's dividend will mako
some impression on prices toward the end
ol the week. 1t is thought, the extent to
ha
Importance. 49,
Baltimore and Ohio earnings for Nav
sho CIV an increase Of $685.. 49,. Of. a gain CT
s'.-l4."',- Tor eleven months. This show
lng revived dividend rumors and come CON-
fdcnt buying was reported from time to
iiMe. Earnings are not uniform in all
parts OF the country. however St Paul
sno"ihs d faH;2g off from its magnificent
record of last year. The gain over 1S,,S
Is considerable. and there is little prospect
Rod p'
A spirited demand from the abort In
Ietesl forced sharp advance in American
Sugar during the afternoon and the entire
Iisl was forced into a sympathetic move
ment The Pacific stocks gained some
thng from the covering movement and all
the recently weak issues rallied on the
covering OF previous sales
mere was no improvement in the char
acter OF the demand, however and the
street was inclined to regard the recovery
as the natural result of an oversoId mar.
k"t Money was offered freely at and
under per cent, and there was almost no
attention paid to the gold movement ~, the
prospects for reduced reserve ,'he mar
ket is so narrow that it is an easy matter
10 convert what there is of it TO almost any
view for a brief period
Dullness followed the selling movement
OF yesterday and today an opposite moves
ment was tried with better results. Once
the advance halts. however. the decline
will be inspired by a similar desire 10 in
crease business among traders