The age-herald., 1901-06-12
\ VERY SMALL
 STOCK MARKET The Movement Shows ProfeS- SionaI Character Plain THE DEALINGS FALL OFF The Strength of Few Favorltes Helped Along for a While, But
 Later These, Too, Re
 lapsed.

New York, June 1.-The desultory movement of prices in today's stock mar ket demonstrated the professional char acter into which it has again relapsed. The volume of dealings fall back near to the level which was reached previous to last weeks spurt of activity. Diminished interest showed a tendency to- become congested in few stocks. The strength of these had some influence in sustaining the general market, but this waned in the latter part of the day. The opening made good show of strength under the combined influence of favorable interpre- tation of the government crop report, published after the close yesterday. and the rumors which came thick from Lon don that peace was imminent in South Africa. The crop report had the greater effect on account of the short selling which mad been done by the bears during the past week in expectation of a showing of great deterioration in the crops. Not withstanding the decline in condition of the winter wheat crop during the month, and the decrease in acreage of the spring wheat crop experts are able to figure
 
 The rains which have fallen since the first of the month, which is the date of the governments computation, were also taken as an offsetting factor to the un- favorable features of the report The short covering which developed yesterday afternoon therefore continued with ener- gy this morning. There was an attempt nevertheless to distinguish in detail the effects of the reports as bearing on differ ent states. The spring wheat grangers were consequently strong while the Texas, Missouri and Kansas lines were held back A sharp raid carried Texas and Pacific down to 2h from the high point and Missouri Pacific itself fell un- der last night. The whole market suf- fered from realizing until the aggressive movement in Missouri Pacific checked the decline. This stock touched 1229s on well defined expectations of coming dlvl- dend.
 There was a rurnor that the company s bonds will have the option exercised III their behalf. The pressure on Texas and Pacific was attributed to change in the ratio of it's proposed exchange with Missouri Pacific stock, which has been supposed hitherto to have been two shares for one of Missouri Pacific. The Mexican Central issues were largely dealt in con nection with 8 report of a refunding
  to dividend claims The appearance of controlling Standard Oil interests in the directorate of the American Linseed Oil Company was responsible for the strength of those stocks and of National Lead. which, 1t Is said, will benefit from the change A number of the high priced specialties. such as Sugar, Amalgamated Copper and American Tobacco, fluctuated feverishly under the influence of what seemed purely speculative operations. There were some sharp advances in less prominent specialtes, which were unex- plained, including American Express, North American General Electric, Vir- ginia-Carolina Chemical and others. in which the gains ran from to points. The money market was free from dis turbance, but reports of a transfer of several million dollars in currency to Philadelphia yesterday, in connection with steel combinations, was an influence upon sentiment. The selling pressure gained force at the last and the closing was heavy at about the lowest and gem erally below last nights declines from the top, ranging from 1 to points in the principal active stocks The sales of 100- GOO shares of Northwestern preferred was made 13 point lower than the preceding sale.
 The demand for bonds was well dis tributed and prices advanced Total sales, par value, $3.975,00O. United States bonds all unchanged on last call.