The San Francisco call., 1906-06-26
New YORK STOCK ,tark~t.

NEW YORK, June 25.-The stock market gave
oon rms rms 81 bad me eSrs efs o{
putting restraint upon the pressure TO sell.
which was 50 prominent last week The tone,
nevertheless, was one OF dull depression. and
there was no attempt 70 inaugurate any ae-
rual rise In prices. The principal influence IN
the market in effect sentiment was IN its
support Tor stocks which are reputed 10 be
rBe favored medium for market operations
BY capitalists in the so-called Standard Oil
Group.
Movements ln the general market responded
quite closely 10 the action Of tie stocks thus
regarded by the common speculative opinion of
professional traders St Paul. Amalgamated
Copper and Union Pacific and Southern Pa
cihc are conspicuous examples. The notable
weakness OF these stocks on saturday aroused
fears In the ranks OF the habitusl speculative
element that pronounced weakness in the stock
market was 10 be the reelection Of the ad-
ministration plan for prosecution OF the Stand
ara Oh Company, which was formally an
sSe1n Pace ah9 81 Pan ssf showed evasbes
or aggressive support. advancing time
a point or more. aad Amalgamsted Copper
vas luled again and again q above par, where
4 closed on Saturday. This had the effect
u creating an impression that the STANDARD
OH group Of capitalists intended 10 offer SUD
cuence OF the hostile intention Of the admins
rratfoa. The period OF strength IN these stoeis
WAS identical with that OF the great test resisting
power IA the general market. and the whole
list went OF 70 the lowest OF the day when
and showed signs OF an abandonment OF sup
port The comparative hrmnesS Of United
SUITES rtcel ana OF pennsylvania were OF
sympathetic benefit TO the rest Of the market.
While sentiment was affected by these specn-
latiTe considerations there was no change IN
actual conditions affecting stocks. The weekly
reports of tie railroad traffic officials admitted
some con traction ia the shipments Of merchan-
disc which attributed 70 the prevailing
uncertainty over the crop outlook. Satur-
days -rumors Of a proposed steel combina ti0u
o rival the United States Steel Corporation
had some elaboration, bat = stiaening tendency
In the foundry iron market was of more infu-
ence. The commodity markets were still ua-
settled by various reports Of crop damage.
The approaching adjournment Of Congress wac
cited rs promising relief from some Of the
factors OF depression in the stock market In
terbor0ugh Metropolitan made another down
q ward plunge On account OF the call made upon
Z members Of the syndicate for q payment of 90
per cent OF their subscriptions. Interest rates
for time loans continued 70 advance and the
siz months bills raised from : 20 5ls per
cent. and for seven and eight months 54 per
cent was tie asking rate. with 5is per cent
strongly bid Foreign exchange continued 70 de-
cline in compliance with the demand for money.
out the London market adopted protective meas
ures by advancing the selling price Of gold il
that market The weakness of the copper mar.
Eet in London was believed 10 have some spe-
cia4 eject on ANA lga mated Copper The break IN
Analgamated Copper proved finally effective IN
weakening the whole market and the last
prices were near the lowest OF the day. and
showed general declines for most OF the active
Leaders OF I 10 points. and in few cases
more.
Bonds were heavy. Total sales psr valuel
81 .iG5.o00.
United States bonds were all unchanged on
II gall.