Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-06-09
Dealings Almost Wholly Pro-
fessionaI in Character.
TRADING IN SMALL VOLUME
Gould Railway Stocks Were Com
paratively Inactive.
W. q. T. VERY DULL, BUT FIRM
Union Pacific and Reading Led
ransactions-Lower Price Range
on London Resumption.
TRADING IN SMALL VOLUME
W. o. 7. VERY DULL, BUT FIRM
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, June 9.-The trading in
today's stock market fell to very small
proportions and the dealings we're al
most wholly of a professional character
It would not be easy to assign any def
mite tone to such a market. although dur
ing the greater part of the business ses-
sion prices ruled below yesterdays clos
ing quotations Politics and the condi-
lions prevailing in the steel trade were
again the chief topics Of interest.
1t seemed to be commonly believed that
after the close of business announce
ment would be made of a general cut
IN finished steel products with the ex-
ception Of steel rails. but even that
prospect did not lead to particularly
heavy sales of the United States Steel
shares The Republic Iron and Stee
stocks were. on the other hand weak
but their course was mainly Influenced by
reckorings- with regard to dividends
rather than by more general causes
Western Union was extremely dull but
firm. il spite of the general expectation
that the rate of dividend on the stock
would be materially reduced at tomor-
rows meeting of the directors. No state
msnt was given out after the meeting OF
the executive committee of the company
but one of the leading interests in the
company asserted previous to his depar-
ture for Europe that a dividend in some
form would be paid.
A Sharp Break.
The Gould railway stocks were also
comparatively inactive and the Wheeling
and Lake Erie shares naturally broke
sharply on the announcement that the
company had yesterday been placed in
the hands of receivers. 1t is believed
that this completes the list of the insol
vent Gould lines.
The transactions in the railway list
were again composed in large measure OF
the trading in Union Pacific and Reading
Baltimore and Ohio was rather notably
heavy on account of the expectation that
the dividend on that stock would be re.
duced at the forthcoming declarat ton
period. Little news or gossip accom-
panied the transactions elsewhere in this
department..
Markets Irregular Tendencies.
The industrial and miscellaneous shares
for the most part shared in the irregular
tendencies of the general market. Ameri-
cen smelling was exceptionally weak.
white Anaalsamated Copper was compare
lively arm. Smart advances were noted
n the Central Leather and Allis- Chalmers
shares.
The resumption Of business upon the
London Stock Exchange brought with II
q lower range of prices for American
stocks. and the quotations were followed
up by selling in the local market upon Z
fairly large scale. The general London
market was. however steady
In the open London money market three
months loans were quoted at barely one
half Of the Bank Of Ensland's ofilcial dis
count rate. which suggests q further re-
duction in the latter probably at Thurs
days meeting Of the management
Local money market conditions showed
no alteration.