Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-06-21
FINANCE AND TRADE
Steadiness Seemed to Rule the New
York Market.
COALERS Led THE SPECIALTIES
Union and Northern Pacific Offered
Literally.
GENERAL MARKET REPORTS

Special Dispatch to The Evcnin. star
NEW YORK. June 2l-SeitImsnr WIS ,
tribe more cheerful in stock market circles
this morning. and The aggressive saIIi,,.,
OF the last few days was discontinued IN
consequence. This relief from pressure was
reflected In steady market for thu, general
list and some relatively substantial addi-
Tons TO the specialtes The coal shares
We're the leaders Of the latter group tb..
buying being good and having all the out
WARD indications of an important under
taxing. Inc buying was all by brokers not
lhlrequentiy IN the employ of Vanderbilt
interests. and for this reason the move
ment attracted special attention
The purchase of 10000 shares of Reading
nrst preferred was especially significant be
cause OF previous large purchases NV the
same interest. In this property the buylua.
IS in the interest of control and is relied
upon to continue tor time. in spite of tn,
dulness New Jersey Central was ad-
Vanced rather sharply under a similar de-
nand small boating supply and "A short
interest helping the movement
ne one-slded view of the market hither-
10 taken by traders, namely. the wheat
SITUATION IN the northwest. Is now reactin:,
upon itself to some extent and Is looslnr
It's scarce features. The damage has been
discounted rather literally In some respects
already. and the new money to b., released
to investors around July may bring In a
demand for some of the better stocks in
spite of the discouraging prospect as pre-
scented by the bear clique There is not
any public interest in the market at this
time. however. and the Indifference of the
large interests may help to extend the pro-
fesSional control.
There has been liquidation in many in
stances and some of it has been Important.
but there are still many issues unusually
well held The size of the short interest
may at any moment force a rally but the
chances for so doing have been repeatedly
ignored of late The nominations today
might have been used to good advantage in
this way, but commission houses and their
influential clients failed to respond This
lack of interest was disappointment to
many friends of the market. Union and
Northern Pacific We're sold down under
liberal offerings and invited little support.
These shares Were the especially weak
features of the day and contributed 10 the
weakness of the general market during the
finai hour. The result of the convention
had been relied upon to repair the ravages
OF the recent dry-rot. but stocks had been
held pending the announcement and wer.
then sold.
The industrial shares were about as FIST
less as the railroads, Sugar and Tobacco
recovering slightly during the day and
subsequently reactng in sympathy with the
general market.
The Steel stocks continued to reflect th..
evening up Of loans. and the fractions were
indifferent to a nomination which was pre-
viously proclaimed special deiiyerance
for all local corporations
Chicago was heavy seller during NE
flnal hour on crop reports, and the hopeful
feeling Of the morning gave way 10 renewed
depression. The market closes the day with
belief firmly rooted in the advantages of
sales on all rallies.