The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-06-06

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~ efleh fteV had Eti ~ fssriy ~
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fsfssa hut pflers n a~ruFHtes thsrr ~ IN
f., fafiln afd fafla. although hfH sefe ftc
Hye The fofsien markets. sefr sheufrf
vsfv fagugallv W. the ofttif itai declarations
~ essr w fNifetafy c,htiiiots ~ y ad
tNti frrm Tho agest 80 dtsifa cettres
erntlHHea IN ~ leid d1wu with fspidity W
s=74sl,s,;, ==4stA1. ths ihsyiiahls sfsnt ~ 4 ~
. fafcemruf N hath tcsrfvcs ihere. std
thla uteeasina enlaferneht " the wufld's
m6ery supply IA ots N The most fovufahlr
features ~ The entitr international anattial
situation Th~re were general feara . .hoft
tlurr aeo that owiha IN che asiiatlon N thg.
land asains, Tho ~etnphpymrnt ~ smile
iahof IN aSuth Africa tho Dutftt ~ the
Rand mines th~fr might 10 s%ettrisly dluih-
nN"i, tVi she A." " yripw metal from ths
tranavaai proceedA uncheched Orcfa-
| tlnna n our market IN -day for foreign no.
r,unt wrrr. however, ~ NJ great cSten'
and Appeared ~ 10 mierpllaneoualy dis-
tfibuhed on either side ~ Tho account IN
the first hail ~ the day not only Nd the
standard shares advance but there WA y
rather lively Kidding w ~ iaa,rrs Ike the
tinted States Reduction and Rsnf Ing. Grass
TWine and similar usually Inactive indua-
trial stocks. There was n larger and more
persistent buying NJ Roth the Ufited States
steel common and preferred stocksthan has
been aeen for apme time past, and nearly
all the railway equipment and fertilizer
| company stocks were strong. Colorado
Fuel aud Iron and Reading stocks werc,
no wever, the features Of the market, with
out, Of course. any special reason therefor
being made public. In Philadelphia the
! advance IN the Iehigh Valley shares con
tinued, accompanied by rumors hat the
stock was 20 obtain a listing OF the New
York Stock Exchange.
Dulness came over the stock market
after midday, and after prices had drifted
back and forth aimlessly for a time they
succimbed in the last hour TO a sharp SELL
ing movement, which seemed TO affect
Colorado Fuel and Iron more PARTICULAR
than any other stock. There was no not
able recovery from this, and the decline
was sufficient TO wipe out nearly, " not all,
the gains that had previously been made
and to cause small net losses TO be shown
49, L., - L. ,.a i~-;N,, 81 thn ,.~~ainArt
stocks. The market no doubt suffered
somewhat from the general understanding
Of the fact that it had risen through five
successive days without reaction. and was
open to the general suspicion, therefore,
that it might be a little topheavy. These
fears we're realized when the decline oc-
Cured, the market selling of very easily;
and the impression was common at the
close OF business that the greater part of
the activity in the market during the day
had represented speculative manipulation
for the purpose Of profit ia king. Absolutely
the only news announcements Of any i'm
| ~portance to-day were those contained in
several exceedingly gratifying reports of
| railway earnings for the fourth week Of
May. The Missouri Pacific reported for
this period an increase in gross Of 1924 900,
the Canadian Pacific OF .355,OO0, Southern
Railway, $1s7. 2lo, and the Louisville and
Nashville, $ls8, 900. There were hardly any
changes worthy of the name to-day in the
domestic money situation, in sterling eX-
change rates or in the commodity markets.
While call money here still remains very
easy, time money for the really desirable
periods is firmly maintained at relatively
high figures. One million three hundred
thousand dollars was received by the local
banks from San Francisco to-day, making
| nearly s. 600, 900 thus received in the last
| two days and $12, 600, 900 received since the
shipments of funds to the Pacific Coast
from this centre ended. Cotton and wheat
we're both a little lower in price, the deter
mining influence in these markets at present
being the brilliant prospect for the seasons
harvests.