Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-06-25
VIEWED AS PROFESSIONAL
Sharp Decline in PETERBOROUGH Metro
politan Common.
AMALGAMATED COPPER ACTIVE
No Material Alteration in the Money
Market Conditions, but Some
Apprehension Shown.

Special Dispatch TO The Star.
NEW YORK, June 25-The volume Of
business in today's stock market was main
tanned upon fairly large scale, but the
dealings were generally described by close
observers as being mainly Of professional
and manipulative character. Apart from a
few special Instances, price changes were
limited and irregular and apparently with
out much lasting significance. The most ex-
tensive movement in any OF the active
stocks was the sharp decline in INTERIOR
ough-Metropolitan common. a reflection I'M
doubtedly of the developments in the affairs
of the syndicate In that stock which became
known toward the close OF the week. At
any rate, the declines In the other Inter
borough Metropolitan issues were by no
means so extensive as that In the common
stock
So far as the general market was con-
cerned. the chief controlling influences
seemed to be identical with those which
monopoiized discussion toward the close of
last week. These included the active prose-
cutfon by the federal authorities of various
railway and other corporations. the most
noteworthy examples being the Pennsyl-
vania railroad and the Standard OIL Com
pany. Leaving aside altogether any ques-
ton as to the merits of the governments
case against these corporations the pro-
ceedings OF the federal authorities were
bound to exercise a depressing influence
upon speculative sentiment, and such Is
Enthusiastically the case
The London stock market was generally
easy, and American stocks were actually
weak there, largely for the same reasons
that were locally similarly effective.
Operations here for foreign account on
balance were on the selling side to the ex
tent OF about 10000 shares
1t Is almost superf1uous to say that with
the current active speculation in the grain
market. Wall street received from Chicago
widely divergent reports respecting the con-
6ttion OF the growing crops.
The governments regular weather bulle-
tin covtring the past week will be pub
lished tomorrow. and within about two
weeks the complete figures Of the Depart
ment of Agriculture upon the state of the
crops will be available
Money market conditions showed no ma
terial alteration, although no little uneasi-
meas was expressed as to the course of af-
fairs In that direction later In the week
when arrangements will be In progress for
the heavy July disbursements.
Various rumors were current respecting
conditions in the steel trade. the most I'M
portant being those setting up large or
ganiza ton of independent companies for
the purpose Of competing actively with the
United States Steel Corporation. but these
were emphatically denied. The United
States Steel securities, while sharing In the
irregular movements Of the general mar
ket, showed indeed a f1rmer undertone than
for some time past.
Amalgamated Copper was also largely
dealt In and iuctuated widely for such an
active stock, presumably in advance OF
the widely advertised pronouncement of
Boston speculator Some comment upon
the reaction in Copper metal prices also
attended the dealings In the Copper
stocks.