The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-05-04

Wrssps MAY

Although thsrs va ~ visofut~ fss,uup.
ts,a IN thr stoeh MARKS, to-day ~ yss'er.
lays saflns Rpv~msn, snd M TRIAL pfiao.
NY n soeka boueht and spid go only
shout hair ~ thai ~ Yesterday, 'hr 70
rovsfv In prie~r sbich ea- fsaiiv m" stl"r'
fssttrs NJ busine-- Yesterday a%fietuoun
failed ~ IBID AMI tho mafhet thfoairo'
yes w . nsf vots and umsr'ilsd s'rt" ita'
Indicated that ih~fr 49, stiH ho ~rrs"rsus
In ~st-rulttlye s~ntlmsni fsgafli1s NJ" in.
msila,e fBurc ~ values, Tho iiarb ~
Ehelard fsssd w. minimum rae" " lie
STUNT to-day ~ . nsf ron NJ event ihs'
had isen pretty thoroughly Participated
wing ~ tha lnrse wifhdfa wal- ~ Rnld
from Fnglahd fersntlv frt the Hr,rurt ~
this n untfv fhs matter esnfcis"d No
u~nfavurnhl. Influence Nv ~" iIntl"n mnfk"t
although N wns observed that discounts
" Nv. ot@n mtfhet In i1ndrn irisredisisly
fosr dulckly Ia Nearly ~ even level sith
the tanks rn,s. ard correspondents here
~ foreign backing houara vrntprrb u ~
their opinion that II the pressure ~ thtH
cpuntry ittpn tho Rank ~ England for gold
continued and Paris bankers did not m
bcsa their own storns ~ gold more rapidly
than they had lone heretofore the EnglIali
banks rate wns likely spon to he again adj
vanced There was. however, M little
huytnk ~ stocks here during the day 10y
fr gliah Investors our own market. fol-
owing tho higher prices Acnt from Iond0n.
orrned a. an advance which In -pme IN
stances ran =, y point or more above clos
ing uuptatilnA ~ the day before After
this prices declined again rather sharply.
and roae and fell feveri-hly during the day,
betraying, " anything, n tendency toward
n lower rather than n higher plane. Read
ing nminon stock was comparatively
strong, by reason. "a seemed, OF ruinors
that the anthracite miners might declare
agnirst a strike. There II n doubt, also,
that speculation for the decline In Reading
has recently been daringly carried on, and
II may be that the retirement Of contracts
Of this nature had az much M anything
else 10 do with the buying Of the stock
On the other hand. special pressure was
brought 70 Dear against Amalgamated
Copper, and In the late afternoon this stock
was forced to a new low record price on
the present movement. The whole list Of
securities sympathized with this selling.
and prices Of the principal stocks closed
for the most part at a decline.
A favorable factor in the market to-day
was the recession in the rates for the use
OF call funds, these declining so that an
abundant supply Of money was offered to
borrowers on Stock Exchange collateral
below 5 per cent. The Treasury released
Yesterday TO the banks 80 8 % 900 as adj
vances against gold imports, changing "a
large net loss by the banks to the Sub
Treasury previously in the week to a gain
Of .74I 900. Bonds deposited by the banks
at the Sub-Treasury to-day for additional
advances against gold taken for import
reached the large sum OF IS, 500 ,OCo, and
there we're decided signs Of a slackening in
the movement of money to the Pacific
Coast. On the other hand. an unfavorable
influence was exerted by recognition OF the
great amount Of harm likely to be done to
a variety of business interests by the well
nigh complete tieup, IL it continues, OF
on the Great Lakes, owing to
the strike of the longshoremen's unions,
and secondly and chiefly, by pessimistio
discussion concerning the report Of the
Governments recent investigation OF the
Standard Oil Company, which, it was said,
was to be sent to Congress tomorrow,
accompanied by a drastic message on
the subject by the President. Just how a
report of this nature was to be considered
as lessening the value of the properties of
the great railway and industrial companies
of the country whose stocks are dealt in in
Wall Street did not logically appear. The
Standard Oil Company mus be by this
time pretty well accustomed to investiga-
tons and drastic reports" Of one kind and
another. Nevertheless, spectators for the
fall sought very earnestly to-day to convey
the impression In the financial district that
the break in the stock market had been
due largely to the efforts of Standard Oil
capitalists to give the country an "object
lesson regarding the results likely to follow
an undue interference by the Government
with their business. and the particularly
heavy selling Of Ahalgamated Copper to-
day was, it may be, part Of the pro ramme