Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-05-06
Prices Advanced Further in
All Quarters Today.
SOME EXTENSIVE GAINS
Upward Trend Reflected Chiefly
Bullish Manipulation.
PROFESSIONAL INTEREST ONLY
Union and Southern Pacific Leading
Features-London Irregular-An
Increased Volume Of Business.
SOME EXTENSIVE GAINS
PROFESSIONAL INTEREST ONLY

NEW YORK, May 6.-There was little
more TO he said of the transactions in Sc
curties today than that prices advanced
further in all quarters of the market. ana
that in many instances the gains scored
were very extensive. particularly IN vie"
of the rise already recorded. Yet the
upward movement was accomplished win
only minimum OF outside participation
and according to common opinion ref1ect-
ed chiefly bullish manipulation or the
most powerful and adroit character that
has been witnessed in Wall street In
many months
II goes without saying that buliisn
manipulation of this description applied
TO a stock market in which liquidation
has been thorough can have only one
result so long as it is maintained Its
ultimate success will depend entirely
ucon the degree to which outside parsfcf-
patton can be attracted.
The movement has. however. already
progressed far enough to cause the
professional element of Wall street on
and of the floor of the stock exchange to
espouse the bull side of the account. hence
the rapidty of the advance in many
stocks. Per contra. suspension of manipu-
lation accompanied by endeavors to real
ize profits have in turn led to such sudden
ana pronounced TSdCtiOH DIS HAS OOOh
witnessed from time to time
No Explanation Afforded.
Itw was virtually impossible to elicit from
the news overnight or the developments
with the course of the day. any novel
facts which could be cited in direct ex-
PLANTATION of the course Of the market.
In fact the general characteristics OF the
latter were identical with those which
have been presented since the inception or
the upward movement.
The ratification of the Union Pacific
bond issue by the shareholders announced
late yesterday afternoon was accepted as
a matter of course. while the notification
of the allotment of the new Pennsylvania
loan had already been accurately fore
casted. There were very heavy trans
actfong today in ne new Pennsylvania
four per cent bonds, and while In connec-
ton with the receipts of the notifications
large profit-realizing sales were con-
Quoted. the bonds were exceedingly firm.
Pennsylvania stock, on the other hand.
moved irregularly-
Union and Southern Pacific were the
leading features of the market In point
of strength and activity. but great
number of other shares likewise scored
extensfve maximum advances. Cases In
point were Atcbison. st. Paul. Northern
Pacific Great Northern preferred. Den
yer and Rio Grande and Louisville and
Nashville.
Advances for 1ndustrials.
In the industrial and miscellaneous
group there, were round advances in
North American. the United States steel
shares. United States Rubber. American
Smelling, Amalgamated Copper and the
railway equipment shares Apart from
the announcement Of the awarding of a
large order by the Laekawana railroad
to the American Locomotive Company
there was almost nothing of interest to
be adduced in connection with the course
of these stocks.
Movements In the commodity markets
and the days advices with regard to the
progress of the crops likewise played little
part in shaping the course of the market
for securities.
The London stock market was irregu-
lar although small recovery was noted
in consors. Operations here for foreign
showed on balance small excess OF
sales.
Interviews with financiers returning to
this country were in a general way men,
toned as influential in shaping sentiment
although for the most part the express
sions Of opinion were couched in a par
ticularly conservative tone. The volume
of transactions ran far above yesterday s
scale. and activity was more continuous
than was the case then. There was also
specifically, at any rate, very wide
distribution Of interest. Money market
and foreign exchange circumstances again
showed no material alteration.