Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-06-04
EUROPEAN MARTS CLOSED
Crop Reports Encouraging Feature of
the Day.
AN ADVANCE IN COTTON OPTIONS
Interest Conferred in Report to Con-
gress on Packing Industry and
President Cassatt's Return.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, June 4.-There was a fairly
general. and in number of cases, sub
stantial rise In prices. in today's stock mar
ket. which could hardly be said to be d.
rectly accounted for through any of the
days developments or in the news over
Sunday.
The European markets and that at Chi
cago were closed today. and virtually moth
ing was done here for foreign account. The
days advices respecting the progress Of
the crops were for the most part encourag-
ing, but were scarcely referred to In con-
nectlon with stock market movements.
In the governments report upon the
condition of the cotton crop, which set
forth a material Improvement in the state
of that important staple was succeeded by
rapid advance in the quotations for future
options.
Previous to its publication no little inter-
est was manifested in the much discussed
report upon the packing industry and the
accompanying message to Congress from
the President. but In a general way it
might be said that both documents fell
somewhat short of the expectations which
had been entertained with regard to them.
The return to this country of the presi-
dent of the Pennsylvania railroad and his
subsequent utterances furnished further
themes for discussion during the day, al
though Pennsylvania stock was not espe-
cially conspicuous in the dealings.
The annual report Of the Amalgamated
Copper Company was made public In the
early part OF the business session, and was
at first accepted disappointing show
Ing. but Amalgamated Copper stock quick
ly recovered from its opening depression.
1t being recognized that in the latter por-
ton of the period covered by the annual
report there had taken place substantial
Improvement In more than one aspect of
the company's affairs. There were fur
Their large transfers of currency from San
Francisco to the local banks. and money
on call opened and was in free supply un-
der per cent.
Banks Reported Discrepancy.
The banks reported loss to the sub
treasury IN their transactions with that in
stltutlon up to this morning of SS62,OoO but
IL was commonly recognized that this
weeks bank statement will probably cor
rect the glaring discrepancy in the Gasp
item which appeared in Saturdays returns.
There was a large increase In the volume
OF business in comparison with last weeks
averages. and also a very fair distribution
OF interest.
The Anthracite Coal shares were con-
spicuous in the days transactions, and
sharp advance took place in Lehigh Valley
IN the Philadelphia stock market. There
was no news or gossip, however, attending
the animation in this direction, and, for
that matter, very little attached to the
movement in other stocks which were more
or less prominent in the trading.
Other leading features OF the railway list
were the Missouri, Kansas and Texas
shares. st. Paul, Atchison and Union Pa
cinc The industrial and miscellaneous is
sues advanced in common with the general
market. with the transactions largest In
Colorado Fuel and Iron the United States
Steel shares. American Smelling. National
Lead and the Copper stocks. While the
trading continued largely OF professional
character, moderate increase in the bust
ness Of commission houses was reported,
and taken altogether, the general temper
OF Wall street seemed to be rather more
cheerful than has been the case for some
days past.