Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-06-05
FINANCE AND TRADE
Stocks Rallied Somewhat From Low
Prices of Yesterday.
DUE LARGELY TO DIVIDENDS
Santa Fe and American SUGAR
Were the Leaders.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, June 5-Today's stock mar
ket rallied from yesterdays low nricas
under the influence of short covering and
some buying for q turn. The fall of Pre-
torla resulted in an abandonment of bust
ness in London. and little help was given
from that center
Inc declaration of 2ls per cent divt-
dend on Atchison preferred had a bene-
helai influence on the price of those shares
and attracted a fair demand to the conn
mon stock. The statement submitted to
the directors for eleven months and the
estimated earnings for the remaining
month shows net earnings of 50. 900 900
such a showing leaves no doubt of the
company ability to pay the full per
cent on Its preferred stock. The short In
terest In these shares hesitated to cover
FOR a time, but the appearance. of a mod
crate demand from a prominent banking
~ forced covering movement later
IN IN 1 tne day The railroad list responded only
lndlnerently to this buying and no new de-
rnahu was encountered. The trading ele-
ment sold stocks for both accounts on
every rally. but was not inclined to wait
LOT more than small profits.
The declaration of the IL per cent div,
idend on American Sugar was too general
~ expected to make much of an impression
on the price. Some selling was In evidence,
later IN the day, but this was due to gem
erai rather than to special conditions At
the decline the selling was less aggressive
ara some covering was noted.
Inc dividends on the shares named to-
gether with the usual array of July divi-
uendS declared at this time, were about the
only factors in today's trading If interest
couid be aroused at all the present market
Is quite strong enough to force up a point
or two. The failure to attract the demand
IS causing disappointment. and the street
Is beginning to believe that the stock mar
ket will have to shade prices to get BUSH
done.
Politics are daily growing in significance
ana are being used as argument against
activity. The state convention has empha-
sized this subject and from now on politics
VIII take their place among the daily mar
ket influences. inc customary scare period
Is approaching in the matter of campaign
contributions. and influential down town in
terests are being impressed with the need
IcI energetic efforts in this particular
The industrial shares would seem to be
especially vulnerable at this time owing to
the certainty of stringent pledges against
them In the platforms of both parties but
the group has the present advantage OF
being IN the hands of experienced market
managers. Advances will be taken advan-
tage of to sell on. however. and support
to be effective will need to be constant
during the summer.
Earnings are running ahead of last year
to a surprising degree. but such a course
must end shortly. it Is argued. in order to
conform to the falling off in commercial
business. Good crops would inspire new
confidence In this particular, but any good
news is liable to fall upon a market too
narrow to fully utilize 1t. If the market
holds relatively steady. the street Will be
reasonably satisfied with its long stock
holdings.