Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-05-08
MARKED TODAY'S DEALINGS
Further Rise in Reading and An
thracite Stocks.
THE LOAN MARKET CONDITIONS
Advances Ranged From One to Four
Points In the Railway List
Some Sensational Gains.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, May S.-The further gen.
eral and extensive recovery in prices In to-
days stock market was unaccompanied by
any specific developments of novelty, but
IN view OF the internal conditions prevailing
within the stock market. none perhaps was
necessary. The days only real news con-
sisted of the ratification by the miners con-
ventIon of the agreement reached at the
conference between the operators and the
miners held In this city yesterday afternoon
Such an outcome had been commonly reck-
oned upon. but today's definite announce
ment was accompanied by further large
rise in Reading dthe other anthracite
coal stocks.
In a general way the forthcoming return
to this city of the leading spirit In the
affairs of the Union Pacific and Southern
Ps cifc properties referred to in con-
nectlon with the course of those stocks,
bur for the most part there was little par
tiCular discussion attending the movements
in any Individual stocks.
Conditions in the loan market for stocks
furnished one of the chief themes OF dis
Cussion throughout the day. Strange as 1t
may appear, the very extensive rally In
prices since the middle of last week has
not apparently had the effect of reducing
materially the proportions of the out
standing short interest in the market. At
all events, even yesterdays upward move
ment was not succeeded by the return or
large amounts of borrowed stock. and an
the loan market this morning.
On the other hand, the recovery in the
market has naturally strengthened the
position Of many firms and operators who
were more or less distressed at the low
levels reached last week, and this circum-
stance closes one further source of fresh
liquidation. At all events. there appears
TO be still outstanding a very large and
well distributed short account in the mar
ket. and that speculative faction appears
10 have become emboldened in view of
their recent successes that they continue
to daily contest the improving tendencies
of the market
Advances ranging from one point to four
points and over were fairly general
throughout the railway list the industrial
and miscellaneous shares and the local
traction issues.
B. R. T. Advanced Again.
Brooklyn Rapid Transit retained the con-
spicuous position in the market which 1t
assumed yesterday. the stock rising farther
on large transactions, which were accom-
panied by favorable forecasts OF the show
tng which the company is expected to make
as a result of It's operations in the current
fiscal year. Leading features of the indus
Trial group were the United States Steel
shares, Republic Iron and Steel. American
r locomotive, Amalgamated Copper and
american Smelling. The dealings In the
last named were again accompanied by pre-
dictions that the share holders WILL before
the end OF the year. be in the receipt Of
much higher distributions of profits
Some of the higher priced railway shares
made quite sensational gains, cases in point
being LaCkawanna and Great Northern pre-
ferred London exercised little influence in
the local dealings. the lower quotations fur
nished from that quarter being followed
subsequently by small operations on both
sides OF the account.