Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-06-05
No Developments Of Special
Note Since Saturday.
WEAKNESS FEATURED
RALLY FOLLOWED IN COURSE OF
DAY FROM FOREIGN REPORTS.
Statement of Amalgamated Copper Is
sued Today Caused It's Stock to
Feature Days Dealing.

NEW YORK, June 5.-There were no de-
velopments of any special or general inn
portance over Sunday, unless they might
have been found In the constant shifting.
superlciaIly speaking. at least In the al
fairs of the Equitable Life Assurance So
ciety London furnished very little innu-
ence in the local dealings in one direction
or another.
The stock market there was weak in the
early part of the business session, but raj
lied with the course of the day. chiefly be-
cause of the acceptance by spectators at
that point of certain symptoms In the dlpio-
matte situation as making for the early
opening of negotiations for peace between
Russia and Japan.
Repurchases of securities in the London
market for French account gave some color
to these views In the local situation the
sole developments OF any Importance were
the dividend declarations announced and
the earnings statements submitted.
The annual meeting of the Amaigamated
Copper Company was held today, ana that
concern made the first approximately salts
factory statement of it's affairs that has
been published since It's organization. II
has been recently pointed out III TINS coiuni
that at the prices which have been preValI-
ing for copper metal the Amalgamated COM
pany has been in the receipt of handsome
profits upon its capital, and the balance
sheet published today, together with the
official statements made at the meeting
measured up very well to the expectations
which have been entertained In Well-ln-
formed quarters.
Amalgamated Copper Active.
AmaIgamated Copper was one of the most
active features of the whole market, and III
the early dealings the stock advanced to the
whit "a sold for
time AS was TO be expected, the publica-
ton of the balance sheet was followed by
exceedingly heavy profit-taking sales, under
which the stock dropped about points, al'-
eIward rallying again.
A factor of unquestioned influence In the
strength which was displayed In all quar-
tiers of the market was a decided upward
turn in the United States Steel stocks, the
prolonged depression in which has acted as
a severe handicap upon the remainder of the
market.
The Industrial quarter was generally nrln.
but apart from Amagamated Copper ana
the United states Steel shares the deal
ings there were wanting In particular IN
terest.
The local traction stocks were decidedly
strong also, but were inactive, with the
exception of Brooklyn Rapid Transit.
The Railroad List.
The railroad list showed a number of ad-
vances which were well in excess of 1 point.
York Central the Erie issues. st. Paul.
Atchson. Southern and Union Pacific,
Reading. Norfolk and Western and New
York. Ontario and Western. No considera-
lions at all holding any elements of novelty
attended the movements in any of the
stocks mentioned.
Close observers of the trading described
II highly professional but qualified their
remarks with the statement that there was
pronounced scarcity of stocks offering
for sale
The market. in fact. showed more clearly
than any OF its Immediate predecessors
that genuine liquidation has. for the time
being, at least, been entirely concluded.
That circumstance naturally facilitated the
endeavorers OF the bullishly disposed floor
traders, and rendered more uncomfortable
the position of the short interest in the
market
Money on call was fairly active with
loans averaging about 21a per cent. Rather
more stringent conditions had been looked
for in view of Saturdays bank statement
which 1t was believed reflected in part the
Withdrawals of cash by the trust com
panies Incidental to the preparation of
their statements to the state banking de-
partment at Albany. The commodity mar
kets We're mildly reactionary