Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-06-12
The Market Narrow With a
Firm Undertone.
SLIGHT PRICE CHANGES
CoALERS STRONG AND GOULD
GROUP SOMEWHAT ACTIVE.
Speculation Confined to Room Traders
and the Western Element in
Wall Street.
-ial Dfsnatch to The Evening Star.

Special Dfspatch to The Evening Star
NEW YORK. June 12.-The course OF
prices IN today's stock. market reflected no
new conditions. The volume of business
was confined to the room and the few west
ern operators interested in the pooled is.
sues. Here and there fluctuations exceed.
ed fun point. but in a majority OF in,
stances fractional variations only were re
corded.
The undertone was firm. and there was A
further effort to draw the market out from
the influence of the coal strike All efforts
failed to broaden the speculative horizon
but there is no abatement of confidence in
higher prices. The strength of the market.
In spite of the protracted dullness is com
nented upon on all sides. There is no de-
sire to sell. and buying is contemplated bv
NJ per cent of the idle watchers OF the mar
ket once an incentive is disclosed
The news from the coal strike was
thought to show some slight advantage
the operators. The publication Of the cor
respondence at least defines the Issue, from
the mine owners standpoint and the nuhIi,
mas definite basis upon which 10 form con-
customs. Inc strike leaders have been ad-
Hlsed th3t they have gone to issue on i'm
material points and that OBJECTIONS from
I'M IT ranks are imminent
he fear now is that an effort to involve
oaiApHS VIA DE pressed and that
complications may arise. However this
NAV De good judges predict that one-half
ol the strike period has already passed
Ne"s agencies sent out Washington dis
patches predicting the sending Of a special
message to Congress on the Labor trouhl.
put such reports are, at least premature
Inc coal stocks fuctuated with the mar
ket, but We're generally strong in tone.
1tsterday developments In COnnectton
with Cuban reciprocity legislation resultaI
IN some selling Of American Sugar during
the opening hour. which detracted 1 Der
cent from yesterdays prices. At the de-
Slihe the puying was better than the SELL
recovered
Present indications point TO a movement
IN Sugar, no matter what is done at Wash
ington.
The buying Of Missouri Pacific forced
that stock into a position OF leadership
at an advance Of / per cent from yestsr-
days level. Earnings are urged in ex-
PLANTATION of the rise. but the street be-
lieves that the Gould party intends inaugu-
rating a considerable advance in this is
sue All Of the Gould shares were moder-
ately active. but with irregular net re-
suits.
A movement of some consequence is
thought TO be pending in Manhattan, re-
cent buying being better than the average
rms buying is based upon local traction
conditions. however. and is not in the ordj-
nary sense Gould campaign. Western
Union was stronger on good earnings thus
making all of the Gould stocks more or less
prominent in featureless market
Union Pacific was much discussed in cir
Giles close to the western contingent but
there appears to be a Lack of harmony be
tween its speculative friends and the man
agement. Stock is supplied above 105 but
there is no pressure below that price. The
convertible bonds occupy a strong position,
inasmuch they represent an investment
of sound quality and always sure to partici-
pate in any advance which may be recorded
In the stock
Steady and unobtrusive buying of Colo
RADIO Southern issues Is to be noted among
the days developments. Good judges of
the western railroad situation expect TO
see these issues in the forefront of any new
business.
Prices shaded Off during the last hour
under profit taking and a decreased vol,
ume of business.