Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-05-27
Extremely Wide Fluctuations
Marked Today's Dealings.
FAIRLY LARGE BUSINESS
Short Account Pressure and Lquida-
ton Caused Declines.
NOTABLE RAILWAY LOSSES
Rally After Midday Materially Re-
duced Maximum Declines.
Gould Stocks Heavy.

Special Dispatch to The Star.
NEW YORK. May 21-The stock mar
ket remained In very unsettled conoi-
ton and the days fairly large trans
actions were again accompanied oy eS-
tremely wide fluctuations. During the
forenoon the market showed great oea'
of pressure apparently of the same de-
scription that has been noted from TIME
to time for more than week past
Actual liquidation accompanied by ag.
xressive operations for the short account
and BY the execution of stop loss orders.
resulted in declines which extenoeo from
fractional limits to more than SIX points.
the most extreme loss being scored Dy
Missouri Pacific. All Of the other Gould
stocks were likewise exceptionally heavy
but even their particular course was I'M
attended by any actual news or creoloie
rurllors.
Atchison and number Of other railway
shares showed during that time losses
ranging from one to two points.
In the local traction group Brooklyn
Rapid Transit was the feature In break
Of nearly three points. the weakness In
that instance being attributed to the
proposition made by the lnteroorougn
Rapid Transit Company for the extension
Of It's lines in Brooklyn borough through
the construction OF new subway. The
4nteIDOEOUEH MStEopohloa ceON"S "NA>
comparatively firm.
Early Losses Were General
Generally speaking. the transactions in
the industrial and miscellaneous shares
varied very little from those noted else
where in the market. Early losses cor
responding to those shown in the railway
list were scored In that department dur
ing the forenoon. but after midday the
maximum declines were materially re
dueed through the fairly general rally
which then set In American Smelling
ceptionally firm. The recovery in qIes-
tion was not. however. particularly i'm
pressive nor we'll sustained.
Theoretically the change in the super
based upon Washington dispatches. which
quoted the Attorney General as saying
that there was no foundation for the ru-
mors that the government was con1em-
railways, and notably against Union and
Southern Pacific, that were current yes
terday.
Little attention was accorded to the
additional engagements OF gold Tor ex-
port and little more to the progress OF
the emergency currency bill in Congress.
Grain Market Excited.
The grain market was again excited
but moved in a more orderly fashion than
on yesterday.
The most encouraging feature OF the
DAYS situation was the additional evil
dencc o. the improvement in the invest
ment market. as evidenced by the quick
success Of number of securities oHerlng,
Including the Tidewater Company note
and the Chicago and Eastern Illinois is
sue. ,
The London stock market was generally
steady, although the American depart
ment was naturally unfavorably affected
by the unsettled conditions upon the New
York Stock Exchange.
Operations here for foreign account
were upon a small scale General money
market circumstances were again not
materially Influenced either by the ex-
ports OF gold or the return OF government
balances These latter transactions have.
however, now resulted in a loss in cash
by the banks to the subtreasury since last
Friday Of more than Sl3.00OOhO. which
would suggest that the bank statements
Of the. next few weeks will be rather more
closely scrutinized than have those OF the
past few months.