Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-19
Further Declines of Prices in
Today's Market.
AMERICAN WEAKNESS
FOUND TO EXIST ON THE LONDON
EXCHANGE.
Factor Of Decided Weight in the Early
Dealings - Principal
Tradings.


Specisi Dispatch TO The Star.
NEW YORK, May ALPHABETICALLY the
same considerations which were commonly
accepted as accounting for the weakness
liz the stock market yesterday were genef-
ally named in connection with the further
decline In prices today. AS was to be
expected. In view of the tone which pre-
vailed in yesterdays closing dealings. to-
days stock market showed at the opening
OF business losses in many of the active
stocks in excess of 1 point. The extreme
weakness shown by American stocks in the
London market was a factor of decided
weight in the early dealings, particularly
as the quotations from that point were
followed up by selling orders here for for
. eign account to an amount estimated in
excess of $4,000 shares. The American de-
partment was the weakest division of the
London stock market. and heavy selling
orders for American local and continental
account were executed there.
Rumors in Circulation.
Rumors of financial distress at Frankfort
Were in circulation. while 1t was reported
from Paris that Baron Rothschild was seri-
ously i'll. In view of the large extent of
the selling for foreign account in the New
York market, and. furthermore. in view of
ing dealings. 1t might be said that the mar
ket showed unexpected degree of resist
ance to the heavy pressure to which it was
subjected today. The market tone at all
times was very feverish and upon occasions
slightly unsettled. but there were never
theless from time to time extensive re-
coveries. and the market far from
being wanting in effective support. The
volume of business during the first hour
was exceedingly large. Subsequently there
were periods of actual dizziness. which were
succeeded by other periods Of spasmodc
activity.
Scant attention was. however, accorded to
such pros aic circumstances.
Money Calls Shade Firmer.
Transactions in money on call averaged
under 21a per cent, and notwithstanding the
heavy foreign selling of securities, sterling
exchange was only shade firmer. The
west furnished a bountiful supply of calam-
fly advices respecting crop conditions, par
ticularly in the corn belt, but these were
likewise disregarded. because of the reac-
tionary tendency of the grain market.
While this mornings advices from Wash
ington placed the attitude of the admins
tration respecting the purchase of supplies
Tor the Panama canal in a somewhat mOdi-
fed light. that subject remained perhaps
the chief feature of discussion throughout
the day, 1t seeming to be considered that in
any event powerful agitation for tariff
revision had already been launched.
The United States Steel stocks were ma
turally the leading features in respect to
activity, and the remainder of the market
followed closely in the wake of those
stocks The comparative strength of st.
Paul was an interesting feature of the
market. particularly in view of it's recent
ri limo thn at
ropolitan stocks were exceptionally strong
In connection with this mornings news
with regard to the construction of the new
subway lines. For the most part, how
ever. there was little special gossip relating
to any particular stocks. the trading being
sun governed by general considerations.