Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-06-16
Prices Ruled Firm During
Greater Part of Session.
DOMINATED BY POLITICS
The Railway List Led in the Active
Stocks.
POINT AND OVER ADVANCES
Reading and Union Pacific Furnish
ed Very Large Proportion Of
Total Transactions.
DOMINATED BY POLITICS
POINT AND OVER ADVANCES
Special Dispatch to The Star.

Special Dispatch TO The Star.
NEW YORK, June 16-Such advances
rs were scored at one time or another
In the stock market today were caused by
purchases based exclusively. it might be
said. upon the reports which were in per-
sistent circulation with regard to the
proceedings of the republican convention
at Chicago Most of these rumors were
altogether conflicting. but so intense was
the interest in political affairs that as the
majority Of the reports in question were
!: OF a favorable character the market
ruled very firm during the greater part
! OF the session. with advances Of one point
and over showing in many Of the active
railway stocks.
, Tho industrial and miscellaneous issues
were also firm, notably for the United
! States Steel shares. Amalgamated Cop
per and American Smelling. but the deal
: ings in that department were upon a
small scale in comparison with those In
the railway list. Even in the latter,
however. Reading and Union Pacific
again furnished a very large proportion
of the total transactions.
Little was done in the traction shares
and the bond market continued sluggish.
with q certain degree Of pressure evident
in the new Union Pacific fours.
Interest in Republican Platform.
An alleged forecast of the republican
platform was printed in some Of the
morning papers, and while its text was
subsequently declared to be nothing more
than tentative and stale, 1t nevertheless
found quite genuine acceptance in the
early dealings and was a factor in the
strength of the market at that time.
Interest in financial circles with regard
to the republican platform now converges
almost entirely upon the plank relating
to the issuance Of injunctions by the fed
eral courts, and by far the greater part
of todays dispatches from Chicago and
this direction.
= 1t was Inevitable also that some appre-
hension should exist that after all the
convention might be stampeded for the
chair. although naturally there was little
in the immediate developments Of the day
In support Of that idea
In view Of the controlling influences in
today's dealings In securities 1t Is obvious
that the latter did not lend themselves to
extended and detailed comment.
The London Market.
American stocks were favorably affect
ed In London although only to q mild
extent by the same general set of cir
cumstances which were effective in the
local trading. and foreign houses were
buyers In the local market. although
upon q very small scale.
Sterling exchange continued strong.
The statement Of the countrys foreign
trade Issued this morning by the Depart
ment OF Commerce and Labor showed g
falling on in imports of merchandise for
the month Of May of $4,000. OOO and q
decrease In exports of merchandise of
. &2loOO.O6O. For the eleven months of the
ended fiscal year an excess Of exports
amounting to over $642OOO.OOO was re-
ported as against an excess of S421 600
600 Tor the corresponding period of las,
year. but. of course, by far the greater
part OF this advantage was scored during
the panicky months of last autumn and
was reflected in the heavy gold impor-
tations Of that period.
Money market circumstances were I'M
altered. Price movements in the stock
market showed fairly uniform tendencies
and the transactions in particular stocks
vera unaccounted for by any actual news
or gossip except of a purely technical
character.