Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-06-01
General Tone of Trading To-
day Was Significant.
AN INCREASE IN BUSINESS
Many Violent Advances Marked the
Upward Trend.
THE BULLISH MANIPULATION
Americans Strong in London-Amal.
Copper Report-Statements OF
Railway Earnings.
AN INCREASE IN BUSINESS

Special Dispatch to The Star.

Special Dispatch to The star.
NEW YORK June There was a
great increase in the volume of business
In the stock market today. and the gen
er.ll tone Of the trading demonstrated the
fact that Fridays we'll sustained rally
possessed more significance than was ac-
corded to II at the time. Apart. how
ever from the enactment of the emer
gency currency bill. together with the ad-
journment of Congress there was not
much In the way OF actual news to be
cited in connection with the course of
prices,
The rapdity and extent of many of
the advances scored suggested. how
ever. that in no small degree last
weeks occasional fits of extreme weak
ness were caused by operations for the
short account: The precipitated retire.
ment of commitments of this descrip-
ton was reported today in nearly all
quarters of the market. and just as
last week. numerous slumps resulted
in the execution OF stop loss orders. for
the account of individuals long on
stocks. so todays violent advances also
reached and caused the execution of
stop loss orders in the opposite direc-
ton
On the other hand the dealings showed
quite plainly that bullish manipulation on
large scale had been resumed, and fur
fhermore that the buying of this descrip-
ton was accompanied by purchases of d
more solid and permanent nature.
London Market Buoyant.
American stocks were extremely strong
in the London market along with the
other departments there and foreign
houses were quite heavy buyers here upon
the opening of business. No special rea-
sons were advanced for the comparative
huoyancy of the London stock market
aside from the extreme ease in money al
though favorable influence was ex-
erted by the estimated gold output Of the
Rand mines for the month of May, the
amount being placed at $4,000 ounces
sum which has been exceeded on only
one occasion.
Local developments included the publ
cation of large number OF statements
or railway earnings. for the month of
April. which showed quite uniformly large
decreases in gross earnings mitigated in
great measure by heavy curtailments In
operating expenses.
The annual report of the Amagamated
Copper Company was also made public
and showed net earnings of less than one
half OF those of last year. Amalgamated
Copper moved. however. In line with the
remainder of the market The other in
dustrial and miscellaneous issues were
likewise strong with exceedingly heavy
transactions in the United States steel
shares.
Advances for the Railways.
The local traction issues were also Arm
on comparatively light transactions
In the railroad list the active shares
showed advances ranging from l to
points and over. intermediate gains were
scored In many cases, including Baltimore
and Ohio. Atchison. Canadian Pacific,
Missouri Pacific, the Hill stocks and Read
L ar or inc in ho &c
tuai news or novel gossip was passed
beyond routine or technical lines. accom-
panied. however. by such striking ad-
vances as those noted