Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-07-13
Lowest Prices of the Week
Reached Today.
A RECOVERY CAME LATER
But Market Showed Highly Irregular
Conditions.
DECLINES FROM l TO 3 POINTS
Industrial and Miscellaneous Stocks
Under Special Pressure-London
Was Heavy.
knecinl nlsnatch to The Star.


NEW YORK. July 13.-The lowest prices
of the week were made in the early deal
ings of todays stock market but on the
further decline a better degree Of support
was apparent than had been observed pre-
viously, and this seemed to suggest the
wisdom TO the short interests of retiring
q portion Of their commitments.
The stock market accordingly enjoyed
fairly general and vigorous recovery from
its early depression, but 1t nevertheless
presented a highly irregular appearance
throughout the business session.
In the early period of weakness many de-
oines running from one to more than
three points, were scored, and, as was the
case yesterday, the Industrial and misceila-
neous stocks appeared TO be under special
pressure Amalgamated Copper. American
Locomotive and United States Rubber
broke with particular rapidity, but round
y declines were scored in other instances.
In the railway list the Erie preferred
shares showed renewed weakness. ana
losses of one point and over were scored by
ST Paul. Missouri Pacific. Great Northern
preferred and Northern Pacific Iransac-
lions during the first hour of business were
upon a fairly large scale Of activity but
there was a material decrease In ANIMATION
on the subsequent recovery.
There was the same striking absence Oh
actual news of either general or partlcu ar
Importance that characterized the deal'lss
throughout the week. Scarcely any gossip
or discussion except OF purely techlhcai
chara Cter. accompanied even the more VIZ
lent swings IN prices.
Foreign Account Transactions.
The London stock market was generally
heavy and while failures were an
nounced upon the stock exchange. per
sistent rumors were current there that sew
eral insolvencies had been averted only
through the extension of assistance pri-
vately Operations here for foreign account
hadtrifing net results
Money market and foreign exchange con-
ditions showed no material alteration. but
according to London dispatches. 1t was eX-
pected that some portion OF the gold which
will he available in the London market
Monday Will be secured for Shipment 10
New York
The preliminary estimates of the principal
movements of currency during the week
varied rather widely
Crop Prospects Satisfactory.
The days advices relating to the progress
of the crops We're altogether satisfactory
and were accompanied by rather marked
weakness in the grain market
So far as the dealings in securities were
concerned, it could hardly be said that
they were Influenced to any considerable
extent by any OF the days circumstances
referred to- Discussion was occupied al
most exclusively with the technical cir
cumstances Of the dealings and with con-
lectures as to the sources OF the weeks
persistent liquidation. The business of
commission houses was almost entirely on
the selling side representing the liquida
ton of speculative accounts which had
been exhausted or impaired through the
protracted shrinkage in prices.