Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-06-04
Pennsylvania Makes Record
of the Present Movement.
PRESSURE ON STOCKS
LEADING TRUNK LINES AND Pa
CIFIc ISSUES GO DOWN.
Minneapolis and st. Louis Drops Six
Points and Northwestern Four and
a Half-Sugar Says.

NEW YORK. June 4-The tone Of the
opening market was feverish. and there
were heavy dealings in some of the lead
ing stocks. Fifteen hundred shares OF
Pennsylvania sold at an advance of u over
last night. but the price ran OFF II on of
ferings of thousand share blocks and up
ward. thousand shares OF st. Paul sold
at an advance of Y, but the gain was i'm
mediately lost. There were sales of 1850
shares of United States Steel at 315s COM
pared with 81 last night. The active stocks
showed fractional declines, except for the
Canadian group, which was inclined to
advance. Twin City Rapid Transit rose
over point.
Pressure against the market ceased when
support appeared for st. Paul and Penn
sylvania, and prices rallied to yesterdays
level. The market then became feverish
and reacted following large sales OF Anal
gamated. That stock went below Is. losing
rs and other leaders sagged to the low
point. Trading was heavy in Pennsylvania
and few of the transcontinental stocks.
but the general volume of business WAS
small. Pennsylvania was freely sold on
advances which kept the market unsettled.
United States Steel preferred was notably
firm, were also the second mortgage Is.
The pressure against Pennsylvania. which
touched 125h. a new low record on the
movement, undermined the market, and tho
leading trunk lines and Pacific stocks fell
a point or more below last night. Minne.p-
oils and St Louis dropped and North
western Az. Amalgamated Copper was
forced down 2 by large selling. Sugar de-
clned IA. and some minor specialtfes
point or more. The market steadied and
became dull at noon. Bonds were irreG-
ular at noon.
Occasional pauses were made in the SELL
ing campaign. but any effort to force a re-
covery speedily brought out fresh offerings
and prices fell to lower level than before.
Iaro nlx- ,trat
against Amalgamated but Pennsylvania.
St Paul. Atchison and the Pacfics were
also pressed at intervals. Late in the day
losses had been made of 31A in Amalga-
mated, 2 in Union Pacific, Smelling, South
ern Pacific and Delaware and Hudson, IA,
In St. Paul and Atchison and 1 to IA quite
generally elsewhere Northwestern was
down 5& in all. Twin City Rapid Transit
relapsed- to IN under last night
Excitement in Cotton.
NEW YORK, June Upon the appear
ance of the government crop report showing
the present average condition of cotton to
be "a, compared with 95 last year. the cot
ton market here was thrown into a great
state of excitement.
The immediate effect was an advance or
After the excitement the market quieted
down. with prices points higher than yes
terdays closing
NEW ORLEANS June AT the opening
of the cotton market the ring went wild
over the reading of the bureaus report on
acreage and condition 1t became immedi-
ately known that it was the worst on rec
ord. Prices, however. did not make any
sensational advances, prime. pally because
the effect of the reports had been dis
counted during the past week. Heavy
liquidation followed the reading of the
report, but everything quickly absorbed
and the profit-taking had no lasting effect
on prices. In the trading of the morning
September advanced II points above the
81. 90 x n,.D
yanced points to $50 and December ad-
vanced points to 93S.