Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-06-04
Realizing Sales Caused a Weak Open
ing in Stocks.
GOOD BUYING ON DECLINES
During Closing Hour a Strong
Undertone Was Developed.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. June 4-Prices hesitatcd
slightly during the opening hour this MORN
ing, and some rather liberal profit taking
IN progress for local and foreign ac-
count The drouth in Texas was used as a
selling argument In some quarters. but In
the main the sentiment Of the street was
not affected. Good buying came IN on the
decline. and the afternoon market was
buoyant under a splendid demand. The
demand came from the larger commission
houses, and the several syndicates
Ontario and Western was strong under
the influence OF the multiplying evidences
Of it's growing strength as an independent
coal road. The announcement that this
property had acquired the abandoned road
bed of the old Delaware and Hudson canal.
which was supposed to have passed to
Erie in the Pennsylvania Coal Company
purchase, gave new Interest to the de-
mand. Erie was not materially Influenced
by the announcement, however, and sold
up under a big demand
After Mr.. Morgan's return Erie is likely
to become more conspicuous IN the trading
Pennsylvania officials continue to deny
any intention of purchasing either Wabash
or Wheeling, but such denials fan to con-
vince the street of their sincerity. The
buying Of Wheeling issues was Of the best
and Wabash WAS willingly taken at top
prices by strong interests. Pennsylvania
subject of much favorable comment
Rumors OF sharp advance in Rock ISL
and were freely circulated during the day,
the stock responding easily to the demand.
The scarcity OF this stock In the street
gives rise to rumors OF a virtual corner
Missouri Pacific is strong for similar rea-
sons, and higher prices are said to await
only upon the inclination of the inside in
terests.
The high-priced shares generally showed
signs of strength, but the average opera
tor seemed TO favor the low-priced shares
Southern Pacific was a feature Of the
DAY business, selling UP to record prices
under a big inside demand. The buying is
said to be In the interest OF the Gould
party. but nothing official is given out on
this subject
The entire southwestern situation con-
tinues to give evidence of decided ten
dency toward an early official announce
ment. The buying OF the entire group Is
said to be good and prices respond easily,
the selling being mostly speculative.
American Sugar was strong during the
morning uEder rumors OF an extra dIyi-
dend, and 1t soon became evident that the
selling was better than the buying.
Stock was offered freely above $50 and
finally broke the price down to rs. The
announcement OF the regular dividend dec
laration only was therefore no surprise and
some good buying came in I'm spite OF the
failure to increase the rate. Rival concerns
began to cut rates during the day, but
in spite OF this fact. the street believes in
an early settlement OF the trade war
Peoples Gas was strong under a mixed
demand, based on encouraging develop
ments in the negotiations with Chicago Of
ficiais
The trading during the last hour reflected
strong undertone in the general market
and prices held firmly near their best level.