Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-06-12
Many Extensive Advances
Were Features Today.
MOVEMENT NOT GENERAL
Market as a Whole Was Decidedly
Irregular.
Dividend Reports and Traffic Returns
Real News of Individual Stocks
Transactions Fairly Large.


Special Dispatch to The Star.
NEW YORK, June 12.-There were many
really extensive advances in prices in to-
days stock market. but the upward move
ment was by no means generally shared In,
and In number of stocks reactionary
tendencies were apparent The market as
a whole was. in fact. decidedly irregular,
and even in those issues in which the max
imum gains were most extensive frequent
setbacks were observed.
General discussion centered mainly around
the agricultural situation. and when, upon
the appearance Of the discouraging weekly
weather bulletin OF the government, the
grain market rose sharply, particularly for
corn. quite decided check was admins
tered to the animation of the stock market.
As has been the case the first of the
month, the weather reports suggested I'M
due precipitation of moisture in the spring
wheat belt. and deficient rains in other d.
rections
Money market and sterling exchange con-
ditions showed small alterations, and there
were few developments of Importance re-
lating to either market. The London stock
market was steady in consequence of the
satisfactory progress of the settlement and
on the easing monetary situation. An Idea
seemed TO prevail there that an early re-
duction in the Bank of England's rate of
discount was probable.
A large number of dividend announce
ments and the returns of traffic submitted
comprised the only actual news relating to
individual stocks
St. Paul the Leading Feature.
St. Paul was again the leading feature of
the market. at least In point of influence
upon the remainder Of the list. While that
stock advanced to a new high record on
the current movement the fluctuations even
IN that tnsance were wide and quite erratic.
st. Paul preferred scored sharp advance
on light transactions. but the movement in
that stock served TO strengthen the views
to the effect that some early announcement
of the issue of valuable subscription privi-
leges by the company might be expected.
Other substantial movements in the rail-
way list were in Baltimore and Ohio. New
York Central, Chicago and Northwestern,
the so-called Hin stocks Delaware and
Hudson. Louisville and Nashville and Read
ing, but in all these instances sharp coun-
ter movements occurred and the dealings
were unaccompanied by either any actual
news or novel gossip. During the greater
part of the day Union Pacific was relative
ly heavy, circumstance which was not
wanting in its usual effect upon speculative
sentiment.
A Sporadic Animation.
The days transactions attained a fairly
large total. and the rather sporadic anima-
ton which the market displayed was ap-
parently utilized for the purpose of direct
ing attention toward a number of the So
called specialties. particularly in the rail-
way list. Such stocks as Chicago Termi-
nal preferred. the Duluth issues. Colorado
Southern and Mexican Central were bid up
quite smartly. The local traction issues
and the miscellaneous shares followed in
general the same lines traversed by the
railway list, with the trading there show
ing like characteristics.