The times., 1901-06-20
PRICES RANGING LOWER
The Stock Market Weak Under
Disquietiny Influences.
Big Drops in Colorado Fuel and Iron
and Tennessee Coal and Iron-Ad-
Nances in AmaIgnrnated Copper
Iost-ReceSsions in the Railways.

Lost-RecessiOns in the Railways.
NEW YORK. June l9.-The stock mar
ket continued weak today under the same
general influences which were effective in
yesterdays dealings These were appar-
emily the disquietude growing out of the
monetary situation and the disappoint-
ment on the part of the spectators at
the absence of any sensational develop
ment I'm the affairs of the St Paul COM
pany. London again furnished a mate
rally lower range of prices for American
stocks and sold freely in this market. Ac-
tuaI rates and conditions in the money
market furnished no ground for the con-
Germ so freely expressed in regard to
them The bulk of the borrowing on call
was effected between 4 and AZ per cent.
Additional engagements of gold for eX-
port were made and the large shipments
of the week naturally set on foot con1ec-
lures as TO the probable showing IN sat
urday's bank statement.
1t may be. as is very often the case, that
Wall Street viii find its forecastings in
this regard quite wide of the mark. A
number of large syndicate transactions
of the month have now been concluded
and the bank statement should show a re-
adjustment of the conditions which led to
the heavy increase in loans reported in
the statements Of the last two weeks No
attention whatever was paid to the large
number of railway traffic returns for the
second week of the month, which made
almost uniformly good showings. There
was no other news bearing on particular
stocks and the general market
Business contracted materially in vol
ume and the trading was largely for pro-
trad
stocks freely in practically every quarter
of the market, basing their ventures ap-
parently upon the moderate commission
house liquidation evident and the absence
of anything like concerted support.
number of the declines scored attained
very material proportions, and some of
the losses among the specialties, notably
in Colorado Fuel and Iron and Tennes-
see Coal and Iron, might be designated
as sensational
In the same quarter of the market
Amalgamated Copper, after opening at an
advance of nearly points on the decision
favorable to the company, announced yes
terday afternoon, lost the whole of the
Improvement. In the earlier part of the
day, the industrial group had a firm tone
particularly for American Tobacco, Sugar
Refining, and the Steel stocks. but rapid
and general reaction subsequently took
place there also. The same was true of
the local traction stocks, which prior TO
midday were decidedly strong
In the railway list the trading was most
active in Union Pacific and st. Paul, and
those two stocks suffered the most severe
declines. A few OF the specialties in the
railway list, notably Minneapolis and St
Louis and st. Louis and San Francisco.
were comparatively firm. The advance in
the first named was on rumors that the
road would be leased to the Illinois Cen
tral on a guaranteed dividend basis.
While occasional sharp rallies appeared
in certain stocks with the course of the
business session, they were generally
short lived and apparently represented
little more than the closing out of short
contracts The market was commonly
described by experienced observers as be-
ing exceptionally narrow, inasmuch as il
was impossible to execute orders for con-
siderable amounts on either side of the
account without bringing about undue
changes in prices.