Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-06-12
The Days Dealings Were NJ
tably Irregular.
HIGH RANGE AT OPENING
London Was Dull at Best-Foreign
Houses Sellers.
TRADE DIFFICULTIES RUMORED
Reading Stock Sold Off Rather
Sharply, But Showed Good Quality
of Rallying Power.
HIGH RANGE AT OPENING
TRADE DIFFICULTIES RUMORED


NEW YORK, June 12.-Frequent and ap-
parcn,ly insignificant changes in prices inn
parted a very irregular appearance to the
days dealings in securities. The term in
significant is employed because such fluctu-
atiOus upward and downward as occurred
from time to time reflected little beyond the
shifting of position by the professional trad
ers of the board room. At the opening Of
business IA generally higher range of prices
prevailed. and speculative sentiment seemed
to be favoTably impressed by the failure of
the London stock market to share in the
uneasiness with regard to the several mat
tiers which led to yesterday afternoons de-
cline in the local stock market.
According to this mornings advices very
little or at any rate diminished anxiety
was felt abroad with regard to the outcome
of the diplomatic controversies between the
United States and Japan. and in local DIS
CuSSion that general subject likewise re-
ceived less attention. The London stock
market was. however. duh and irregular at
the best. and foreign houses were sellers
here To the extent of about 1000 shares.
Russia took the place of Japan today in
point of financial discussion.
According to reports published this morn
ing the Russian government was arrang-
ing for the purchase of SJO.ouO.OO0 of gold.
and it said that this country would be
called upon to supply about % per cent of
the sum. These reports were published with
much circumstance and detail, but if they
comprised any elements of truth, local bank
ing houses with executive following con-
nectionS were singuarly uniformed as to
the facts in the case.
Later in the day London cables reported
equal ignorance at that point as to the
transaction in question. Local speculative
sentiment did not have to contend today,
was the case yesterday morning. with
the announcements of any further serious
troubles in the business world.
Persistent Rumors.
On the other hand there were persistent
rumors throughout the day of additional
difficulties in the mercantile district. and
names were mentioned with considerable
freedom.
repetition of those which were current in
the early part Of the year. and doubtless
gained new life by reason of the bank
ruDtcy announced yesterday.
this mornings intelligence from Washing
ton with respect of the intention of the fed
era. authorities to bring legal action against
tn alleged combination of the anthracite
coal roads attracted rather less attention
than is usually accorded in such matters.
Reading to be sure. sold off at time
rather sharply. but the stock showed a good
aualt.- of rallying pownr. based apparently
on the extension OF the belief that the div
idend to be acted on next week would be
decisfed at an advanced rate. .--
The regular dividends were declared to-
day on all OIL the SO-Calied NdnderDlit
stocks. and the regular quarterly dividend
was fixed upon Western Union. although
that company reported for the current quar-
ter surplus of only 500, Ts9 after the pay
ment OF the dividend for the period.
Money Market Conditions.
Sterling exchange rates continued to hover
closely around the gold exporting point.
but indications as to the outcome in that
respect were scarcely more definite than
they were yesterday.
Money market conditions showed in
creased irmness the rates for loans on
call rising in fact TO the highest figures
touched in some time. This circumstance
led 10 increased discussion with regard to
the outlook for Saturdays bank statement,
and ii was common expectation that an
other large reduction in surplus reserves
would be shown in that document.
There was, otherwise, little news of gen.
eral or particular Importance. Broadly
speaking, the days advices respecting the
progress of the crops were satisfactory and
the commodity markets moved irregularly.