Evening star., 1909-06-11
VARYING MOVEMENTS
Market Tone Strong and Weak
by Turns Today,
REACTIONARY TENDENCIES
Fairly Large Volumes of Business
in Foreign Dealings.
FRACTIONS NOTABLY HEAVY
Commodities Moved Irregularly.
General Distribution of Interest
Again Apparent.
FRACTIONS NOTABLY HEAVY
Special Dispatch to The Star.

Special Dispatch to The Star
NEW YORK. June 1.-THE stock mar
ket today was strong and weak by turns:
that is. in the sense that advances and
declines followed one upon another re-
peatedly during the business session.
There were no direct explanations of
these varying movements. unless recourse
should he had to simple technical mar
ket circumstances.
At the opening of business prices gave
some reflection to the fairly spirited rise
which American stocks enjoyed in the
London market this morning, the gains
reported from that point being in several
cases more than one point above parity.
with New York's closing prices of yester-
day. y fairly large volume of business
was transacted i'm the local market for
foreign account, and the transactions of
this description showed an excess of pur-
chases amounting TO about 10000 shares.
After the opening advance the mar
ket developed irregular and generally
reactionary tendencies. but. as pre-
yiouSly mentioned, there were such sud
den shifts in the tone of the dealings
that it would be well-nigh impossible to
assign any definite tendencies to the day S
transactions as whole.
Bank Statement Forecast.
preliminary estimates bI lle' pTlHCl-
pal movements in currency during the
week point 10 gain in cash by the
banks in excess of $4,000 600 but the
consequent prospect for fairly strong
bank statement tomorrow did not ap-
pear to cut any particular figure in the
days speculation.
The commodity markets moved irreg-
ularlv but the price changes in those
-
regard to the crops appeared also to be
virtually ignored in the dealings in Sc
curities. In fact. the latter seemed to
represent in great measure little more
than an evening up of professional con-
tracts such as is ordinarily witnessed
toward the close of the week at this
season of the year. At the same time,
the volume of business was maintained
upon IA fairly large scale. and general
distribution of interest was again ap-
parent.
The local traction shares were excep-
with further material decline in Sd
avenue stocks.
Some Substantial Advances.
In the industrial and miscellaneous
shares some substantial advances were
scored. but the dealings there likewise
exhibited irregular tendencies. Consoli-
both strong. and material gains were re-
corded in American Cotton Oil and Amer
Jean Beet Sugar. The United States Steel
stocks, Amalgamated Copper and the
other usually active issues in this depart
ment of the market moved irregularly.
The railway share list afforded some
quite extensive movements in both di-
rections. Colorado Southern common suf-
fsred a severe decline, presumably be-
cause of the disappointment with regard
To the action on the dividend, but for the
most part the fluctuations in this quarter
ot the market were unaccompanled by
any specific news novel gossip. North-
crn Pacific and Great Pacific preferred
were decidedly strong. Union Pacific and
Southern Pacific fiuctuated in contrary
directions the latter today being firm,
while Union Pacific showed reactionary
tendencies during the greater part of the
day.
Transactions in Reading were maintain
ed upon the usual scale OF activity, but
the fluctuations in that stock followed
the same irregular lines which were noted
elsewhere