The age-herald., 1901-06-06
THE STOCK MARKET
 STRONG 1T TIMES Weak at Close With Some Breaches Effected in Prices PROFIT TAKING EVIDENT Stocks Most Evident Recently Were Most Affected By the Realizing.
 The Bears Forced to Cover
 at Large Loss.

New York, June 5.--The strength of the stock market was quite marked at one time during the day, but diminished decid- edly after a while. When the check was first decisively established, there was a notable falling away in the volume of dealings, but there was a resumption of activity before the closing, this time on the selling side ,and the closing was de- cidedly weak, with some wide breaches eff fected in prices. The progressive decline in the strength of the market is probably due to the completio nof realizing profits on various heavy lines of stocks. The profit taking was clearly In evidence all day, every other demonstration of special strength in individual stocks being taken advantage of to prosecute the selling else where. Stocks which have shown the greatest strength recently were naturally most affected by the realizing. It was current report that much of the buying today and for some time past represented covering of very heavy line of short contracts by an interest which took the bear side of the market last week in it's inclpient stage of the market, arguing that technical considerations caused a reaction at that time. The sustained advance since is said to have driven this interest to cover at large loss. The closing out of this bear account removed an importanr sustaining influence from the market and contributed to the vulnerable condition, which invited renewed attack by newcom- erssto the bear ranks.
 The sharp advances scored in num- Der of insignificant low-priced stocks during the earlier part of the day pointed clearly to manipulation in the interest of the realizing process, but there were also many notable points of strength de- veloped in the market in high-grade stocks. The most sensational upward movement was in Rock Island. The late squirt ir that stock to 175A had a momen- tary influence in stiffening the list after it had touched the low points of the day to that time but as soon as it was per ccived that the Rock Island movement was without effect the selling was re- newed with redoubled force. The adms- sion or new interests to the directory of the Rock Island was pretty clearly fore shadowed, but extra stock issue was an entire surprise to the street. The move ment in Atchson was more gradual and on larger dealings. Rumors of a lease to Union Pacific persisted, and the admission to ths directory of a member of a bank ing firm which represents the northern lines of Pacific railroads was regarded as significant of progress being made to- ward community of interest in that ter ritory as a result of the adjustment Of the Northern Pacific quarrel. Atchison's extreme rise was A. The story of Mis- souri Paoifc's | ntrol of the Southern Pacific and a rumor of exchange of Nils, souri Pacific stock for the Denver and Rio Grarde stock, was an influence in that group of railroads. Pennsylvania was affected by the published opinion of an executive officer lately returned from Europe of good prospects for the coal ex- port trade. Executive changes in the Erie were taken as foreshadowing improve ments in operation.
 The strength of Illinois Central was based on comparison of It's low price with other railroad stocks in the same cate gory. Amalgamated Copper suffered from the granting of a new injunction against its proposed absorptions. Advances of from 1 to points in a number of low priced railroads and industrials were un- explained by any news The advance in Canadian Pacific and affiliated lines was designed to lift the stock In proportion to the advances of the other stocks of North western Pacific lines.
 The bond market was irregular in sym pathy with stocks. Total sales, par value, 8, ,510000. U. s. Bonds were all unchanged on the last call.
 New York Stock Market.