The times. [volume] (Washington [D.C.]) 1897-1901, 1900-06-20
an ACTIVE GENERAL LIST
A Spontaneous Rally After the
Early Morning Dealings.
Recovery I'm the Prices of Stocks APP
parsntly without Cause - Condf-
tfOns Practically the Same ms Mon
day-Operations Outstrip the Liqui-
dation Rise in Changers.

NEW YORK, June 1s.-What was TO
all appearances an automatic rally took
place in the stock market today. 1t be-
came evident yesterday that for the time
being operations for fell had outstrpped
the actual liquidation in progress, and in
dications OF this kind are seldom over
looked by the professional floor traders. i.
Hence It was more or less in the air
this morning that rally in prices was
to be counted upon, and such O movement
took place soon after the opening Geal-
ings. That the movement was al
most wholly technical in its character
was shown by the utter absence of any
important Developments which, of Them
selves, would account for the reversal in
the markets tendency.
The situation in China certainly ap-
peared as serious as at any time yet, AID
1t was reflected in heavy European stock
markets. While American stocks We're
generally shown at advances in COMPARE
son with yesterdays local final figures,
consols were materially lower. and little
significance attached to the purchase here
for foreign account OF few thousand
shares Of various stocks. Neither Inc
Convention at Philadelphia nor the large
engagements OF gold for export appeared
to cut any figure as speculative influences.
A number of excellent statements oil
railway traffic for the second week OF
the month were submitted today. includ-
ing the returns of the St Paul Company.
As regarded the dealings in the market,
they were notably active at the opening,
with a subsequent dwtndling tendency.
The granger shares again furnished the
bulk of activity as regarded the railway
list, with, however. fairly large dealings
appearing in the Atchison shares, the Pa
rific stocks and Baltimore and Ohio.
Aside from the agricultural conditions
there was nothing specific bearing on any
Of these securities. The industrial quar-
ter generally moved IN line with the rail-
way list, as did the local traction group.
Sugar Refining was particularly steady. as,
indeed. 1t las been, comparatively speak
ing, throughout the decline in the railway
list The transactions in the remainder
of the industrial quarter developed few
features of interest, and both the dealings
and the resultant price changes were very
limited.
The heavy export movement of gold TAX
ing place Just in advance of a period at
which some demand for currency is devel-
oping led to a somewhat increased enquiry
for time loans. But there was no appre-
siable reflection in the rates exacted by
lenders. AS was to be expected after the
large gold engagements, the foreign ex-
change market was easier.
The local traction stocks developed pro-
nounced weakness In the last hours, al
though there was nothing particularly
novel which would account for their
course. Indeed. the only news bearing
upon any Of them was the decision favor
able to the Brooklyn Rapid Transit Com
pany In the suit brought to enjoin the i'm
position Of 10-cent fare for the Coney
Island service. The decline in these
stocks. however, was very rapid and their
tendency extended to the remainder of the
market, which lost good part Of the ad-
vance of the forenoon.