The Washington times., 1902-06-21
Dealings in Stocks Show
Marked Falling Off
iii Quantity.
CAMPAIGN AGAINST STEEL
st. Paul and Missouri Receive Atten-
ton From Speculative Interests and
Score Slight Gains - Railway List
Exceedingly Firm at the Close.

NEW YORK, June 20-There was no
mistaking the character of today's stock
market. The dealings were consider
ably smaller than yesterday, and at the
same time larger proportion of them
was manifestly professional. The spec
ulatiye interest in St. Paul was more
aggressive than for some time past, and
in consequence that stock led the list
in respect to activity, and at a frac-
tional reaction from the best price
closed 1as higher than yesterday. SINH
lar interests in Missouri Pacific gave
1t attention that resulted in a recovery
of all of yesterdays loss, and added a
email fraction to the price at the close.
Noteworthy Dealings.
The other noteworthy dealings in the
railway list were in Union Pacific, Atch-
ison, Reading common. at slight net ad-
vances, and among the less active
stocks, in Chicago and Eastern Illinois
common, st. Louis, Southwestern issues,
and Wabash issues. Wabash common
and ST. Louis Southwestern preLe-red
were very strong, the last named en-
joying net gain of 2 points.
In the industrial group, United States
Steel common was the leader in respect
TO activity, and with the preferred, re-
covered about half of yesterdays net
loss. The speculation in these stocks
was favorably affected by reports that
the net earnings of the corporation for
the quarter ending June 80 will be near
1y $4,000, 900 larger than for the cor
responding period of last year.
Covering in Steel.
Some of the buying of the steels was
evidently to cover shorts recently put
out for it is well known in the street
that bear party has been organized to
make campaign against these securi-
ties. This accounts to a large extent
for the recent declines.
There was further effective selling of
Colorado Fuel that lowered the price
more than two points. The decline in
this stock appears to be the result of
differences in the management.
The recovery in prices, which was far
from uniform. was most pronounced dur
ing the first half OF the day. AS the en-
tire list did not participate in it, the
professional element sold stocks for both
accounts in the later trading. The an
thracite coal stocks were comparatively
neglected.
1t is possible that labor disturbances
other than those in the anthracite re-
eion. namely, the outbreak in Paterson
and Union Hill. restricted the making of
new ventures on the long side. The
known movements of money at this CEN
ter during the clearing house week in
dicate that the banks have gained about
81 200. 600 in cash.
Bond Market Strong.
While the dealings in stocks were
Smaller than yesterday those in bonds
were about one-third larger, footing up
over $4,000, 600 par value. The market
was strong, with the noteworthy deal
ings in Georgia Central first incomes,
Chicago. Burlington and Quincy Joint
fours. Colorado Fuel convertible fves,
St. Louis Southwestern first fours, Union
Pacific convertible fours, and Wabash
debenture Bs.
In the outside market there was a re-
covery in Northern Securities to los, and
fairly large transactions in United
States Steel new fves at 95iAQ955s and
interest.
The closing was Irregular, with the
railway list exceptionally firm.