Daily press. [volume] (Newport News, Va.) 1896-current, 1907-05-29
STOCK MARKET HAD
some LITTLE SUPPORT
There Was q Change for The Bet
Ter In The Completion Of
The Speculation.
Short INTERESTS UNCOVERED
u Caused Some of the stocks to
Reach Even a Lower Price Than
They Sold at During the Gloomy
March Days-Total Sales and Clos.
/. Ing Quotations. n
(By Associated Press.l

NEW YORK, May 2S.-The sup
port which was at no time apparent
In yesterdays stock market was of
lered today, with the change in the
coIiiElexion of the speculation as a
Consequence. 1t was matter OF
Course that, after so precipitate a
fall In prices as has occurred, there
should be an extensive uncovered
short interest In the market as the
professional operations In the board
room Invariably continue their sales
up to the limits of a decline. They
conunued their sales in the early
part of the days session and helped
10 force the level of prices in many
stocks to below the lowest prices
touched yesterday and to bring addi-
lions to the lists of stocks selling
Lower than during the panic in March
Inc demand which developed after
support became effective was largely
from the uncovered short interest.
One of the plainest indications of this
was Tho close proportion of gains to-
day to the losses OF yesterday. Stocks
which had been most acutely depress-
cd yesterday rebounded with most APP
parent Vtgor today. Another signifi-
cant Sign of the character of the buy
ing was the manner In which It sub
SIDED at the recovered levels, where
the profit to the bears was cores
pondingly diminished.
It died out entirely at the last,
when the final relapse in prices came.
So far ms there was news to account
for the improvement in tone. the de-
Cline In the wheat market and the
doubt raised over the continuance
OF the gold report movement were
responsible. Tho feature in the in.
ternational exchange situation today
was n recovery of one centime In the
rate of sterling exchange at Paris.
This leaves 1t doubtful whether more
gold will be engaged here tomorrow
Tor export to France markets. for II
1s certain many engagements wifi
De. smaller titan was estimated yes
terday.
The local money market was unaf-
fected for short time loans were
slightly easier. For time loans for
the long periods, however, the offer
ings are exceedingly small The buy
Ing was not energetic at any time
and 1t steadily subsidized, SO that the
bears had no difficulty in forcing
prices back In the last few hours of
tne trading. some stock then falling
20 the lowest of the day. The closing
was distinctly weak Bonds were
Total sales par value $3.50 900.
y s. rs registered declined u on
call Total sales today 6SS, 700 shares,
Including Copper 10000; Smelting
$1,000; Sugar 100: Tobacco 60: a.
q, L. 500; c. & o. 2.1OO; N. G. w.
70Gi, Pennsylvania $4,000; Reading
1920; Southern 2.7OO: Southern
pfd..s 1000; Union Pacific I133O,.
y. S, Steel 1890; Virginia Carolina
Chemical 700; Virginia Carolina
Chemical pfd., 500.
Adams Express 2Yn
Amalgamated Copper S3X
American Car &c Foundry KS
american Car & Foundry pfd.. %
american Cotton OIL 2S1s
American Cotton Oil pfd IS
h rie,ic IMPRESS .......... 200
american Hide & Leather pfd.. 10
anerican ice OBSERVATION-DISCLOSURES. 60
American Linseed OIL OK
american Linseed OIL pfd ~. 23ls
american Locomotive 56
american Locomotive pfd ~. .192
american Smelling & Refng. .l13M
American Smelling e Ref pfd .1O5
American Sugar Refining .12S1s
Anaconda Mining Co. 65M
A.cnison -. ................. 87M
atchison pfd ....... gnih
Atlantic Coast Line az
Baltimore & Ohio g2n
baltimore & Ohio pfd Ks
Brooklyn Rapid Transit 4y1h
Canadian Pacific 1G7
central Of New Jersey ...170
chesapeake g. Ohio .. AZ
chicago Great Western az
Chicago & Northwestern 14GM
Chicago, Mil. & st. Paul ia %
chicago Terminal G. Trans
Ghioago. Terminal & Trans pfd. rs
q" O.. G. e ST Louis e2u
Colorado Fuel G Iron ~
Colorado q Southern 21n
Colorado & Southern LIST MID. ~
Colorado & Southern 2nd pfl. an
Consolidated Gas liz :
Corn Products 1sH
Corn Products pfd .... ~
Delaware & Hudson 161
Delaware. Lackawana * West. a6O
Denver & Rio Grande On
Denver &, Rio Grande pfd 6S
Distillers Securities 81
Erie 1n1k
Eric Let pfd 54H
Ir9le End pfd ... 33h
General Electric 1851
Illinois Central 12Ya:
i International Paper liz
International Paper pfd ~ >
International Pump .,,..... ~
International Pump pfd ....... 70 I,
' Iowa Central IN
iowa Central pfd 3sx