Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-15
Today's Market Dull But
Generally Firm.
FEW ADVANCES SCORED
SPECULATIVE LIQUIDATION
ABOUT AT STANDSTILL.
United States Rubber Company and
Rubber Goods Manufacturing Com
pany Arrangement.
Special Dispatch to The star.

Special Dispatch to The star.
NEW YORK. May 15.-It might be said
of today's dull but generally firm stock
market that If purchases for outside &C
count had little to do with such advances
as were scored. the buying by the profess
sional traders of the floor met with no op-
position at all from liquidation for outside
account. In fact. the dealings showed quite
conclusively that the observations of ex-
perienced judges of market affairs, that
speculative liquidation had for the time
being fully concluded last week. were well
grounded There was scarcely anything
In the developments over Sunday of any
general significance or Importance.
The arrangement between the United
States Rubber Company and the Rubber
Goods Manufacturing Company was per-
haps the most important news relating TO
particular stocks, and the securities OF
both companies concerned gave 1t a char
acteristic stock market reception. 1t Scent
ed to have been commonly expected during
the morning that the Supreme Court at
Washington would today render a decision
in the litigation brought to test the consti-
tutionality of the New York state franchise
taxing statute. At any event, the securi-
ties concerned were more active than they
have been for some time past, and rather
singulariy, all of the local traction shares
were decidedly firm. Consolidated Gas was
materially depressed In the early dealings,
but that stock also rose extensively with
the course of the morning.
1t became known shortly after midday
that the Supreme Court had taken a recess
for two weeks but this intelligence had no
disturbing effect upon either the Traction
stocks or Consolidated Cas-
The dealings In the other miscellaneous
and Industrial stocks tailed quite closely
with those conducted in the railway share
list. Appearances of irregularity were by
no means wanting, but In general sense
the underlying drift was toward a higher
level. Notably strong features were ANAL
gamated Copper. Republic Iron and Steel
and Tennessee Coal and Iron. The rail-
way equipment stocks covered an unus-
ually wide range of prices, and the United
States Steel shares, fairly large trans
actions. moved within rather narrow lin
its. In the railway list interest again
converged mainly upon the Northern Sc
curitieS group of stocks. together with
Union and Southern Pacific.
n
Other firm features were Baltimore and
Ohio. Erie. st. Paul. Louisville and Nash
Vile. Wisconsin Central and Reading. No
particularly novel considerations were to be
adduced in explanation OF the dealings in
any of the stocks mentioned the concurrent
gossip being along the same general lines
that has been heard for some time past
having for the most part to do with expec-
tations of higher regular dividends, and In
some cases of special distributions of prof
its. The quarterly dividend on Standard Oil
stock was declared today, the dividend be-
ing 50 a share, as against S. a share In the
corresponding period of last year. The SUBJ
treasury was a large creditor at today's
clearing house settlement, in connection
with the return of government moneys by
the national banks, but the money market
was not materially affected in consequence.
Neither was there much reflection of the
strength of the grain and cotton markets.
although the advances In both directions
were in part the reflection of unfavorable
advices respecting weather conditions In
the west and south. The European stock
markets were somewhat heavy. and there
were some further small failures upon the
London stock exchange. from which point
came selling orders in this market to the
extent of about 10000 shares. In the abb
sence of any considerable local liquida-
ton, this selling was readily absorbed
without any substantial effect upon prices.