Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-06-15
INCREASE IN CALL LOAN RATES

Special Dispatch to The Star.
NEW YORK, June 15.--The stock market
continued very much unsettled today and
the dealings varied in character from those
conducted yesterday only in showing a
slightly better degree OF rallying power
upon occasions, and also in that todays
situation included some occurrences which
might be named in explanation of the
course of prices.
Thus there was a rapid advance in the
grain market, and the mornings advices
with respect to the progress of the crops
were decidedly discouraging, particularly as
regarded the weather conditions In the cen
trail west.
There was also a further advance in the
rates for loans on call, chiefly In conhec-
tion with the shifting incidental to the
days large dividend payments, which IN
cluded those on Standard Oil and ConsoH-
dated Gas stocks. There were further re-
ccpts of currency from San Francisco, ana.
on the other hand, there was the TRANSFER
TO that point of small amount, repre-
senting probably the usual movements
fhither at this season in connection with
the marketing OF the California fruit crop.
Result of Currency Movements.
Notwithstanding the heavy receipts or
currency from the Pacific slope during the
present week the preliminary estimates
showing the net results of the general cash
movement indicated that the local banks
had gained In consequence only about ST.
100000. This Unexpectedly small balance.
together with the days advance in the
rates for money. was generally taken as
fcreshadowing a weak bank statement to-
morrow, and the views In this respect like
wise played some part In shaping Specula-
tive sentiment. A further excuse for specu-
lative pessimism was found In the morn
ing's advices respecting the political situa-
ton In Russia.
These found some verification in the pro-
nounced weakness OF Russian securities
all the European stock exchanges. which
were In consequence sympathetically de-
pressed. There have been named the
rious matters of general Importance which
might be cited in connection with the gem
eral drift Of prices In today's stock market.
Gratifying Railway Statement.
There was, on the other hand, a virtual
absence of any news or even novel gossip
relating to the dealings In particular stocks.
The Baltimore and Ohio Railroad Company
made public an especially gratifying state
ment OF earnings for the month of May and
for the eleven ended months OF the fiscal
year, and Baltimore and Ohio was appar-
emily based upon the belief that an early
advance In the dividend on the stock Is
virtually assured, and that IL such action
is not taken at the ensuing declaration pc
Rod IL Will be ordered at the end Of the
following six months. The comparative
steadiness of Chesapeake and Ohio and
Norfolk and Western was explained along
similar lines.
As distinguished from the bitumlnous coal
shares, the anthracite stocks were again
notably weak. particularly for Reading. and
Lehigh Valley reacted sharply in the Phila-
delphia market.
Other railway stocks which showed mark
ed pressure were Union Pacific Atchison.
Ct Paul Missouri Pacific, Northern Pacific
and Great Northern preferred. The last
named scored a loss characteristic of the
stock In such a market as that which pre-
vailed today.