Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-06-15
FINANCE AND TRADE
st. Paul Shares Advanced 6 Per
Cent Today.
UNION PACIFIC DEAL MATURING
Bank Statement Caused Some
Life to the Trading.
GENERAL MARKET REPORTS
Special Dispatch 10 The Evening Star.

Special Dispatch 10 The Evening Star.
NEW YORK, n. Y, June l5.-Today's
stock market opened around last night $
closing parity and became duh under a
small volume Of professional business. Lon
don sent over a higher range of prices. but
foreign houses bought only moderately in
the local market. Uncertainty as to the
bank statement held the market in check
during the first half of the session.
Shortly after IL o'clock rumors Of a more
favorable bank statement than had been
expected started some buying around the
room. and prices rallied sharply. The only
favorable change in the statement was a
slightly better showing in the loan account
than previous estimates had indicated. An
Increase of $13.344, 800 was shown, how
ever, and the amount would have created
an unfavorable Impression had IL not been
accompanied with the assurance that il
was probably the last increase due to the
special financial transactions Of last week
The Tobacco deal. the PENNSYLVANIA
stock increase and the refunding of St
Louis and San Francisco will require no
more assistance from the banks Interior
repositories should begin to ship money to
TINS center in the near future in prepara-
ton for the July disbursements and call
rates should be easier during the coming
week A decrease of 81 10000 in specie is
reported, and the deposits have Increased
Sl2.OI5.Jo0. The net result of all changes
is reflected by a decrease OF S4.5J9 375 In
the surplus reserve, bringing that item
down to s.. 7S2. 125.
The most spirited buying of the day fol-
lowed the publication OF these figures and
final prices were around the best level for
the day.
The most important event now pending
In the market is the Union Pacific-St. Paul
deal, and next weeks market is likely TO
be built around this transaction The @
per cent rise in st. Paul today gives color
to the rumor that Union Pacific, and per-
haps Northwestern, win dominate the pol
icy Of ST. Paul along lines similar to those
adopted by Northern Pacific In the Bur
lington transaction. There may be many
differences between these two plans in de-
tail, but st. Paul shareholders seem as
sured of pecuniary advantages at least
equal to those offered to Burlington hold
ers. Union Pacific shares closed around
best prices under a good demand from in
side sources.
Pennsylvania railroad and Atchison have
been steadily bought all week by the same
interests. and indications point to a con-
siderable movement In these shares at an
early day. Officials Of both roads deny
that there Is any plan involving a change
of control in Atchson. but the sensitive
and sympathetic response of both to pro-
nounced activity in either does much to
detract from unqualified acceptance of
such denials.
, The buying of Metropolitan was liberal I'm
volume and confidence in higher prices for
the Traction group increases. The season
or large earnings is at hand, and il money
does not become scarce an advance in these
shares would not be difficult
The induStrials close the week strong nd
In better favor than at any time since the
May panic. The low-priced railroads should
come to the front again, but the comman
of ownership revival has broken out only
among the investment shares.