Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-06-05
FINANCE AND TRADE
Lower Quotations on Standard
Railroad Shares.
THE WHOLE LIST OFF
SEVERE DECLINES IN HIGH
PRICED INACTIVE ISSUES.
Market Depressed-Lackawann Sells
Down Five Points-AdamsE Express
Four Points-Tractional Rallies.
THE WHOLE LIST OFF

NEW YORK, June 5.-Opening dealings
in stocks showed no relief from yesterdays
depression, and there were heavy offerings
of some of the principal issues. A thou
sand shares of Pennsylvania followed by a
3.OO0-share block carried 1t down q, and
there were sales successfully of 5000, 1900
and 2.0OO-share blocks Of Union Pacific.
which depressed 1t H. Amalgamated Cop
per fell nearly point, and there were large
fractional declines in United States Steel
stocks. Missouri Pacific. Baltimore and
Ohio and American Smelling. Losses of
point or over were scored by Canadian Pa
cine, Illinois Central. Consolidated Gas and
Union Bag. Hooking Coal dropped 2.
Some selling orders for minor stocks were
worked off at substantial declines during
the early downward rush, but their de-
preston did not extend to the active lead
ers. which met immediate support. Rallies
were sharp and were led by Pennsylvania
and Amalgamated. which sold point above
thelr lowest prices. A deluge of selling
ders met the recovery above 81 in Amalga-
mated and it plunged downward to 81.
Sugar also fell to lit ex-dividend, and the
railroad stocks came back, but not quite to
the opening low point. AT II o. clock Anal
gamated was ruling above yesterdays clos
ing levef again. The general list was fever
ish and irregular. United States Express
declined f. Linseed z, and st. Louis South
western preferred. ~. Minneapolis. st.
Paul and Sault Ste Marie preferred ad-
vanced 2.
There was evidence of support In some of
the standard stocks. and Pennsylvania st.
Paul. Southern Pacific. Atchison and Anal
gamated got a fraction over last night
New weak points developed and kept sentt-
ment disturbed Brooklyn Transit was
forced down 2h. Atchison to 7OA and Ten
nessee Coal lost B. There was decline of
40 in st. Louis Southwestern preferred
21 each in Evansville and Terre Haute.
Twin City Rapid Transit and Kanawha and
Michigan. and in Wells Fargo. Prices
generally reacted In sympathy. Bonds were
easy at noon.
NEW YORK. June 5.-Numerous selling
orders appeared simultaneously in various
active stocks and they fell below the morn
ing prices; severe declines were made by
some high-priced inactive stocks, which
contributed to the markets depression
Lackawanna lost 5. ST. Louis Southwest
ern, Az; Adams Express. 4; North Arneri-
can "a; Texas Pacific. 2as. and Canadian
Pacific, rs. Buying orders came in at the
low level and the market hardened but
became very dull on the recovery Anal
gamated rose to 52M and the railroad stocks
rallied a good fraction.
The heaviest selling movement of the day
broke out after 1 o'clock. The movement
had its inception in Atchison and Union
Pac1f1c. thousands Of shares of these stocks
oeing thrown over at rapidly declining
prices. Atchison tumbled to $685. a loss of
"a, and Union Pacific sold at 1915 or ~
under yesterdays close. Other standard
stocks broke to the lowest of the day, and
In some cases well below last Mondays
low record level Sales were made of many
less important properties at figures from
to points below previous prices. These in
Guided New Jersey Central, st. Louis and
San Francisco certificates. Consolidated
Gas and General Electric. Hooking Valley
declined @. Amalgamated Copper was
taken in large amounts after it got down
around 51h. and then made a quick rally
to 52&. which helped the general market to
recover a fraction before 2 o'clock
Cotton Market.
NEW YORK, June 5.-The cotton mar
ket opened barely steady at an advance OF
three points to a decline of two points,
ruled generally weak Qn the face of some
evidence of support from the New Orleans
increase in acreage reported by the Chron-
icle as compared with the late govern
ment report
Covering arrested the decline and caused
a partial rally, but in the main the under
tone of the market was easy in the absence
Of public interest with better general run
of crop news popularity interpreted.
At noon the market was dull and easy
with prices seven to nine points lower.
Spot quiet: middling upland, 11.5O; mid
ding gulf, Ills.
Estimated receipts at the ports today,
5000 bales. compared with 3O58 last week
and 3,431 last year. For the week, %, 900
bales against 32,912 last week and 2I,OS5
last year.
Todays receipts at New Orleans were
LIZA bales. against LOCI last year, and at
Houston 146 bales against 131 last year.