Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-06-06
Marked Contraction in Today's
Stock Figures.
FIRM TONE AND PRICES
Trading for Most Part Highly Pro-
fessional.
ST. PAUL A LEADING FEATURE
Some Dividend Announcements and
Statements of Earnings-Crop
News Not Satisfactory.
T. PAUL A LEADING FEATURE
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, June g.
There was a marked contraction in ac-
tivity In today's stock market, but the
dealings exhibited generally firm tone
and prices recovered a large part of the
decline made in yesterday afternoons re-
action. Trading for the most part was
again of highly professional character.
although the movements in some stocks
seemed to be possessed of rather more
significance than was the case with others
Saint Paul was one of the leading fea-
lures of the market and observers of the
dealings In that instance were considera-
bly, impressed with the character of the
purchases under which the stock enjoyed
a substantial rise
The movement in that instance was again
accompanied by discussion with regard to
the financial plans of the company in con-
nection with the extension of its lines TO
the Pacific coast, and with the privileges
likely TO accrue TO this stock in coRse-
quenee. While no official announcement as
to the St Pauls financing has as yet been
made. certain estimates have been current
that the rights to the shareholders Will be
worth, roughly speaking, IA per cent
With the exception of ST. Paul the deal
ings and the price movements In one stock
or another were unattended by much gossip
or actual news, except of a routine char
acter.
A number of dividend announcements and
statements of earnings furnished the only
QeNelOpultLlS lueIe NtTe TtldltuS 10 par
ticular stocks. Considerable interest at
tached to the increase In the dividend on
marlborough Rapid Transit, such action
not having been generally expected. and
also to the doubling OF the dividend on the
common stock of the Mackay companies,
which was declared late yesterday after
noon.
The days advices relating to the crops
were not wholly satisfactory, the chief fea-
ture there being the disappointing Ken
lucky report, and the grain market was
decidedly strong.
Money Rates Lower.
Rates for money. both for loans on call
and for time periods averaged somewhat
lower than yesterdays figures. There were
additional transfers OF currency from San
Francisco. ana expectations. possibly over
sanguine, were expressed as TO the extent
OF the return flow of money from that
point during the current month.
American stocks were again rather ex-
ceptlonally heavy in the London stock
market, and operations here for foreign
sales. as has been the case for several days
past. Aside from st. Paul, the more prom
inent features of the railway list were
New York Central, Missouri Pacific, South
eru Pacific, Union Pacific, Reading and
Denver and Rio Grande.
Pennsylvania was relatively heavy, as
were the Wabash stocks, while the Wabash
b. bonds continued decidedly firm. The
divergent course of the Wabash issues was
commonly accepted as verifying the re-
ports current with regard to the retire
ment of the Wabash debentures. but official
confirmation OF these rumors was still
wanting.