Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-06-02
Selling Of Canadian Group
Forces Slight Declines.
CHANGERS STRONGER
A BREAK IN AMALGAMATED COP
PER AND INDUsTRIALs GO OFF.
Reaction Follows a Rally and the
Whole List Settles to
Low Figure.


few individual stocks weighed on the Open
ing market today and caused generally
fractional recess.ons. Rock Island, South
ern Pacific and Manhattan were the only
important stocks to show resistance. Ca
madam Pacific was sold down 2ss and Twin
City Rapid Transit lost u. slump in tho
London copper market induced a fall OF
IL in Amalgamated Copper. Leather pre-
ferred lost point and Sugar was down y.
Continued selling of what are generally
known as the Canadian group induced fur
Their recessions in the active list, but sup
porting orders developed in the Standard
group and they rallied strongly. Southern
Pacific rose to 50A and Atchson, Rock
Island and the other Pacifcs sold large
fraction above yesterdays close. st. Paul
advanced a point, Metropolitan Street Rail-
way IL and Tennessee Coal Amalgamated
and Leather preferred wiped out losses of
and IL.
Among the declines registered we're G.s in
Twin City Rapid Transit. 2es in Canadian
Pacific and 1a2as in the Minneapolis, St
Paul and Sault Ste. Marie stocks Sloss-
Sheffield Steel. Detroit United Railway and
Toledo Railway and Light The market all
around was rising sharply at IL o'clock.
Twin City Rapid Transit rallied 2as. and
Minneapolis. St Paul and Sault Ste. Marie.
Detroit United Railway and Canadian Pa
cific 1a1h.
he advance maze gains or point CT.
more in Missouri Pacific, Wabash Rock Is-
land preferred. Kansas and Texas pre-
ferred. Erie. Manhattan. Brooklyn Transit
and few other stocks Chicago Great
Western preferred A rose Ia and Consoli-
dated Gas 2. A break In Amalgamated to
below last night interrupted the advance.
Canadian Pacific dropped to 3h under last
night and Twin City Rapid Transit 9A.
Westinghouse Electric lost and recovered
l. Northwestern lost l% and Locomotive
and Allis-Chalmers lost /. The reaction gen.
orally was fractional and did not carry the
list back to the low point. Bonds were ir-
regular at noon.
Liquidation was resumed on heavy
scale in the Canadian group. Twin City
Rapid Transit broke violently to STA. a
loss over night of 1915 and the preferred
stock declined 4. Minneapolis, st. Paul and
Sault Ste. Marie common lost AZ and the
preferred 3. Canadian Pacific sold at lISk,
loss of Sss. A feature of the dealing was
the wide slump and the rally in Minneapolis
and st. Louis. The stock was offered at
IS without takers and then sold at II and
20 compared with 81. the previous sale. The
next purchase was at 10. Virginia Chemi-
cal preferred declined 3. Leading stocks
were not notably affected by this liquida-
ton and held well. Peoples Gas fell OF
and North American 21s. Buying orders for
Twin City Rapid Transit rallied 1t 3h and
Canadian Pacific also recovered over a
point. The check to this selling helped the
active list and some stocks touched their
best prices of the morning. Reading gain
ed 1.
The ability to sustain the usual leaders
despite the heavy liquidation elsewhere
stimulated further buying and St. Paul.
Atchison. Baltimore and Ohio. Rock Island,
Wabash preferred, the Pacifics and Brook
Ign Transit advanced from 1 to 1% above
yesterdays close. Recoveries went on
meanwhile in stocks which had suffered
most. Twin City Rapid Transit sold Az
points above the lowest, Canadian Pacific,
2k: Minneapolis, st. Paul and Sault Ste.
Marie. IN; the preferred, 212 Peoples Gas.
rs, and Amalgamated 1. Business became
very light at o'clock, and there We're frac-
tional recessions. Pacific Coast dropped
points on one transaction and rallied 3.
Cotton Opened Firm.
NEW YORK. June 1.-The cotton market
opened firm at an advance of to points
on bullish cables. the Liverpool market
having advanced on fears of damage
through floods in the cotton belt.
The local response was slow and partial,
as 1t is maintained here that as yet the
floods are too far distant from the cotton
region to justify serious alarm.
The undertone Of the New York market
remained firm, however on covering and
toward noon net rise of points on the
near months and to points on the new
crop months was apparent, with trading
only moderately active and chiefly on local
account.
At noon the market was very steady, with
PiASSo net " " o pOlHtS N1BNeT. Spot, Qule1t
middling upland. $115O; middiing gulf,
$1175 Estimated receipts at the ports to-
day. $500 bales. against 4.771 last week
and 1861 last year. For the week, AZ 600
bales. against 1922 last week and 2I .OS3
last year. Today's receipts at New Or
leans were Lila bales. against 2 45O last
year, and at Houston 4S4 bales, against
]. 1876 last year.
Flood Causes Excitement in Corn.
CHICAGO. June I'm spite of bearish
statistics wheat opened decidedly strong ON
excessive rains in the west and southwest.
Later the market steaded with July at 745s.
There was considerable excitement in
corn and difference of over a cent oc.
CURED in the bids shortly after the opening,
The flood news was the principal influence,
Later July steadied at Az.
July oats were strong at BAN.
September. provisions were strong pork
opening at 16.S71A. lard at 9OOa9 02l1. ribs
at go.