Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-06-08
Firm Undertone Despite Light
Business Volume.
IRREGULARITY or PRICES
Opening Figures Reflected High Lon
don Quotations.
TRADING SHOWED HESITATION
Anthracite Stocks Very Prominent
Again Today-Reading Advanced
on Large Transactions.
IRREGULARITY or PRICES
TRADING SHOWED HESITATION

Special Dispstch TO The Star.
NEW YORK, June Son a very light
volume OF business today's stock market
again exhibited a very firm undertone. and
this observation does not need to be quail
fed by the continued irregularity of price
movements. The market, in fact, changed
its superficial tone repeatedly with the
course of the business session, and for no
other apparently than merely the technical
reasons. At the opening of business high
er range of prices was commonly quoted.
that being reflection of the quotations for
American stocks furnished from London.
Consolidated Gas opened at an initial ad-
vance of about . points. its course being
sufficiently accounted for by this mornings
decision in the injunction suit and the at
tending comments Of the federal judge who
entered the order. Even in the instance of
Consolidated Gas. however, the subsequent
fluctuations were wide and cratic There
was little other definite news relating to in
dividual securities aside from this mornings
more detailed and definite announcements
respecting the financial arrangements of the
Wabash railroad. including the retirement
or the debenture bonds.
The trading showed a hesitating tendency
up to the time of the opening of the grain
markets and continued uncertain until the
quotations from the Chicago grain pitt
Shontu q tenuenCy DOtn Tor wheat
and corn. Thereupon the stock market be-
came generally hrmer, and in some in
stances advanced quite rapidly
Anthracite Prominent Again.
The anthracite coal shares were again
very prominent in today's dealings with
fairly sensational rise in Delaware and
Hudson. The movement in that stock was
accompanied by rather vague reports of
the discovery Of rev and valuable coal de-
posits on the company's property but these
rumors apparently had their origin upon
the floor of the stock exchange Reading
advanced on very large transactions, and a
further rise took place in LehIgh Valley in
the Philadelphia market hence it would
appear as though more general reason
ought to have been found for the course of
the anthracite issues The higher quota
tons for American stocks furnished from
London were not followed up by the execu-
Sion or any considerable orders in this mar
ket Tor foreign account, and indeed the
limited dealings of this character were
again confined to the selling side
The foreign exchange market continued
exceedingly strong, with the result of az
citing some discussion with regard to the
PROBABILITY OF an export movement of gold
Little change was observed In the money
market; although no little interest was
taken IN the views expressed yesterday
by the vice president of the National City
Bank that higher rates for money were
iikely 10 De experienced throughout the
summer and autumn.
The preliminary indications of the prn-
cipal movements of currency during the
week indicated net loss by the banks of
about 100000. but 1t seemed to be as
stunned that tomOrrow's bank statement
would show a correction of large discrep-
anoy In the cash item which appeared last
Saturday, and in consequence that a fair
increase in surplus reserves would be re-
ported There was large falling of in
activity In comparison with the week s
average daily transactions, and for long
periods trading came to practical stand
still.