The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1906-06-27
STOCKS MOVE
..AF;'TE ] J. {
Rush to Cover Shorts Forced
Prices to Higher Level Lev y Where Where
81; They Stayed
IA INVESTMENT !: DEMAND |1E:: !! W
Professional Bear Operators Got OF
4 III II, Heavy Licks Early If s#
IL .3 Ss IA Day. SCI
IfHy I.A,.ssociate ed ! press. J 4

All NfaW YORK, juno 90 T The fall IN
\ pri ces If, stocks which was In progre q
/ yest !etrday was extended considerably
during the early trading TO-" day. 'r l'le
4 EDS yielding OF prices encouraged a l g
gressvc operations on the short ss.e by
sprofessiona bear operators In ST ~ ta g "
I no. stock was disposed Of on the i hrst
break between 1927 the latter after pee q
\ following the former on g sale o. only
+ 600 shares. This incident served az !! q
warning 70 the bears that they were
4 aver. extending themselves, and g demand
10 sslf cover So shorts, which gained IN IN
volume during the progress OF tie cay y
was the conscq uence 5s. # u, 81
f!iISsA substantial recovery III prices fol \
Slowed. IT. aid not appear that the de 4
4 mani & witch caused this recovery OK
tended beyond the uncovered short IN
Etcrest, Az prices got UP to the higher
levels there was q decrease IN ac cta ~!
ana a diminishing inclination 70 Il 5b '1l;
stocks. AZ ~. Ia .5 10
M There was no Important " change -
ct,nd Hons affecting tho market. Some
calling OF loans was reported amongst
Bsthe banks. This had no percept bic el-
&fect In the cnll loan ma rket, but .ratne
I for a time continued strong at the higher
level established yesterday Such heavy
as are to occur with the
turn OF the month are expected usually
to cause some preliminary Investment ZOE 9T
securities. One OF the discourage ng fea y
sures OF tho present market is the entire
q absence OF any such demand. inc pond
4 nrket continues rather to reflect the
\ pressure OF occasional liquidation. some
times due to the expiration Of syndicat es
ana the distribution to members of un--,
sold holdings. "A further decline in the
N London price OF copper made Analga-
4 ma ted Copper Vulnerable TO further at
tack this morning. T ne increase In he
dividend rate II OF Anaconda Copper dur
ing the afternoon left o large short N !
$sterest In the two stool uncovered, ana
Stheir5strong. rail y furnished effective lead
market 8 Tho continued lrmness OF
Southern Pacific kept alive minors of an
\ extended Increase In the dividend rate.
\ After some sirregularity IN Tie late deal
ings, the market closed firm, at the best
prices, on final rally. " 4 t65
Si$ Bonds were easy total sales, par value.
Z 81, go 1000. W. United s tates bonds az Yanced
one quarter per cent. on call for the rs.
The total sales OF stocks 9 mounted to
q 1,12s00 sha res. ,5s. ms
All MONEY AND ExcHAEGE-cLos E:
Il Money on call easy. 2 1-tdasill = per
I cent. ruling rate. q s-4 per. cent clos
! Ing bid. 1-2 per cent?, offered at g.
Time loans, I. firm ssi1 ~ day .1r25s PET
cent; ninety days, Sl-2 to u S-4; - sig
months s TO s a. Prime mercantile pa
d pei, Ell as S1-2 per q cent. Sterling ex :
cha nge, g easy. at s4.s4s5 q 4.s5 for demand
ma at 34.s22o@4 1925 for eo-day bills.
Z Posted rates, s4.s3 and 1886. CONNER
&cial bills, }4.s1 rs. Bar silver, 85. Next
can dollars, 80 sl-2. 81