Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-05-01
Nothing to Account for Ioday's
Reaction.
MOVEMENT WAS GENERAL
Some Buying Orders Reported by For
eign Houses.
LONDON MARKET CLOSED TODAY
Heavy engagements of Gold for I'M
port-Transfers OF Currency to
San Francisco Reduced.
Special Dispatch to The Star.

Special Dispatch to The star.
NEW YORK, May lit IS apparently the
case that for some time to come. as was
true of the dealings of the past fortnight,
daily market tendencies must be considered
along more or less purely technical lines
There was at all events little or nothing
in this mornings news of the days devei-
opments which would account specifically
for the general and extensive reaction IN
prices during the forenoon dealings upon
the stock exchange Superficial causes for
hesltancy might perhaps have been found
in the outbreak of lawlessness IN the an
thracite coal regions and in the slight dis
turbances at Paris In connection with the
May day holidays, but, as q matter or fact,
neither was referred to in connection with
the markets course, and apparently played
small part therein.
The London stock market was closed TO-
day over the usual holiday at that point
but some foreign houses were In the re-
ceipt of selling orders IN this market erna-
mating from the London curb. Other for
eign houses, on the other hand. reported
the execution Of buying orders for orders
for continental account None OF these
operations was upon sufficiently large
g. scale as to influence prices materially one
way or another.
1t will probably be the case that Boston's
advertising operator will assume the credit
for the mornings reaction In which case
he will be quite solitary in his opinion.
Interesting cross currents. There were
very heavy engagements of gold announced
Tor import, one concern alone arranging Tor
the shipment hither of S.. 900, 900. Trans
fers of currency to San Francisco were con-
tinued, but in much reduced volume.
All Money F;rmer.
Money on call was decidedly more active
and frmer than it was yesterday. circum-
stance accounted for by the usual shiftings
in accommodation incidental to the first
of the month, but on the other hand, while
there was no quotable alteration in the
rates on loans for time periods. there was
evident a much greater disposition on the
part OF lenders TO put out their funds and
c corresponding indispostion on the part
of borrowers to pay the rates exacted. Or
ferings for the nine months period at the
o per cent rate We're free, but the inquiry
at that figure was decidedly small
A number of interesting traffic state
ments for the month OF March were re-
ported, rather mixed exhibits being made,
with q particularly strong showing by the
fDrie railway. The days dividend an
nouncements, which included the regular
rates on Pennsylvania and Peoples Gas,
comprised the remainder of the routine
news
The stock market opened firm and fairly
ective, most of the active issues being
fson with yesterdays closing prices. Rather
smart gains subsequently took place in
number OF instances, including New York
Central, Reading, Amalgamated Copper
and International Pump, but with the
course of the first half hour of business
reactionary tendencies appeared, and were
continued throughout the business session.