Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-06-25
Stocks Opened Strong, But
Reacted Later On.
READING STRONG AGAIN
SHARP FLUCTUATIONS IN COLO
RADIO FUEL AND IRON.
Rumors of the Kings Death Kept the
Market Unsettled at
Times.
pecial Dispatch to The Evening star.

Special Dispatch 10 The Evening star.
NEW YORK. June 25.-After early frac-
tional declines in the London stock market
American railway shares rallied from 4
to :I-S per cent above our closing prices or
yesterday. Canadian Pacific in that mar
ket was exceptionally strong advancing 1
per cent. There was very little business
there owing to the continued discouraging
news in regard to the condition OF the
king
In the local stock market. while prices
opened al a fractionally higher level spec
ulation was very inactive. and there was a
good deal of hesitancy on the part of
traders to do anything.
There were only few issues in which the
offerings were large-the greatest activity
being in Reading, which. after opening up
x per cent, enjoyed further advance OF y
per cent The advances I'm the granger
shares were only fractional. and there was
no tendency to bid up prices In this group.
In the industrial list Colorado Fuel and
Iron was somewhat stronger on covering Of
the shorts. the bears wishing To await ac-
ton on the dividend question at Denver to-
day before charging their commitments
AmaIgamated Copper. after fractionally
higher opt ching, rallied a fun point TO 81 ON
the same kind of buying that characterized
the advance in Colorado Fuel and Iron. At
thai levd, however. some pressure was
again felt from the bears. and the price
yielded p per cent.
Sugar was rather inactive and litlIe
heavy. The same was also true Of the steel
issues. Washington was said To be seller
of sugar stock.
The local transactions while not active
were inclined to Improvement. Influenced.
no doubt to some extent. by the news that
the Metropolitan railway new bond issue
had been largely oversubscribed.
After the first hour Of trading i'm spite OF
some inside efforts in the Gould stocks to
stimulate public following. the market be-
came somewhat heavy, speculation being
discouraged by the possibility of trouble
should the king finally Succumb to the
malady from which he is now suffering.
About midday another sharp rally oc-
CURED i'm Colorado Fuel and Iron tfr
price of the stock advancing to 90 AZ
against ST@s. he lowest it touched yester-
day.
Notwithstanding expectations that the
usual dividend would be declared on Amerl-
can Ice, preferred. stock, there was good
selling in the afternoon trading. and the
price of that specially lost over = per cent.
Colorado Fuel and Iron. too, was sold down
for loss Of nearly : per cent. but there
was nothing known in regard To what
action would be taken the dividend
question at Denver as the meeting will
not take place there until 5:sp this after
noon.
The market weak ned fractlnnaIlv I'm the
late trading on rumors in the board that
the king was dead. but there was very little
pressure to sell and the market wore A very
professional aspect. th. business today com
pairing very poorly with that Of Yesterday
and the day before in point Of activity
The strength in Reading was attributed tn
the persistent rumors during the day that
the strikers were weakening at various i'm
portart Centers.
st. Paul held better than any of the other
grangers, and the buying was said TO be for
one of the larger western interests
Brooklyn Rapid Transit showed some
strength during he IN Inn, ipas J,r
said to come from insiders on eNnectation
of better showing i'm regard to earnings