Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-06-06
Character and Extent of Rise in
Prices the Feature.
1T WAS WELL SUSTAINED
q. P. and s. P. Enjoyed Customary
Share of Activity.
THE HARTMAN INQUIRY
Southern Pacifc's Earnings Statement
Attracted Attention-commodity
Markets Again Irregular.
IT WAS WELL SUSTAINED
THE HARTMAN INQUIRY


Special Dispatch to The Star.
NEW YORK, June 6.-By far the most
striking feature OF todays stock market
was the extent and the we'll sustained char
acter of the general rise in prices of itself.
This was particularly true inasmuch as
there was nothing in the news Of the morn
ing or in the occurrences with the course of
the business session which could be de-
scribed as sufficiently stimulating as to lead
to such a radical change In sentiment as
was observed IN comparison with that pre-
vailing yesterday.
1t goes without saying that the attitude Of
the federal authorities in the matter of the
Hartman prosecutions again occupied a
large place in the days general discussion.
There was however a clearer recognition
today OF the probable outcome of the dual
aspects OF the case, more or less, and It
might be said fairly trustworthy informa-
ton coming from Washington Is to the eff
feet that the legal proceedings to compel
MIR. Hartman to answer the questions
which ne declined at his examination before
the Interstate commerce commission will be
vigorously prosecuted.
+ There Is every prospect however. that
this case will not be definitely decided until
81 has been passed upon by the Supreme
Court at Washington, and Wall street
seems more or less indifferent to what the
Issue of six months eighteen months
hence may be. On the other hand. there
be heard OF the criminal proceedings
against Mr.. Hartman and his associates
directed against their general managerial
policies and actions In the Union Pacific
system and in Chicago and Alton affairs.
Both Union and Southern Pacific enjoyed
their customary share of activity In to-
days market, but In other respects were
not unduly conspicuous, although it is prob
able that. usual, the course of these
stocks counted for good deal in shaping
speculative sentiment as a whole.
Remarkable Earnings Statement.
good deal of attention was attracted
to the somewhat remarkable statement of
earnings of the Southern Pacific company
for the month of April. which showed that
out of a gross increase of 81 ,671 600 only
1913 was left to represent gain In net
earnings.
: At the opening OF business the dealings
showed an uncertain tone. which was, In a
Large measure. divided from the course of
prices upon the London stock exchange
tonsols fell there to a new low point on the
listed stocks were weak on heavy selling for
Paris account. with rather noticeable liqui-
dalton in Russian bonds.
Scant credence attached, however, to the
pessimistc rumors which have been in cir
culation of late as to the possibility OF
default on the interests upon Russian Sc
curtties falling due next Friday. Opera
tiOns here for foreign account resulted in
the sale of no more than 1900 shares of
stock. and as general rally took place in
London with the course of the business
session, little further attention paid
to the progress of affairs at that point.
Bank of England Statement.
The Bank of Englands weekly statement
was only a negatively good showing. but a
slight relaxation in discount rates was re-
ported there. Sterling exchange continued
exceedingly firm and additional exports of
gold seemed to be fairly certain either by
Saturdays or Tuesdays outgoing steamer.
Local money market circumstances con-
tinued to give little reflection to the out
flow of gold. Up to this morning the banks
have suffered loss of over $1,000, 900 to the
subtreasury since last Friday. these figures
including. of course, the gold shipments of
the meantime.
Movements in the commodity markets
were again too limited and irregular as to
the amount TO be factor in the dealings
in securities although in the improvement
In speculative sentiment rather more at
tention was accorded to the days encour-
Il