Evening star., 1909-06-04
SUDDEN SHIFTS TODAY
Reactions and Rallies Stir the
Market.
PROFIT-TAKING IS HEAVY
Volume of Business Maintained on
Large Scale.
PRICE FLUCTUATIONS WIDE
U. S. Steel and Republic I. & S. Pref.
Furnish the Striking Movements.
Americans Strong in London.
PRICE FLUCTUATIONS WIDE
Special Dispatch to The Star.

Special Dispatch to The Star
NEW YORK. June 4.-Stock market
tendencies today were of a somewhat
turbulent character and the volume OF
business was maintained upon very
large scale. Further extensive advances
were recorded in the several departments
Of the market. but in many cases snch
large gains were scored were oblit-
Grated at one time or another. the reac-
tions being followed by further rallies.
For the sudden shifts in the tone OF the
general market and in the course OF par
ticular stocks there were no definite eX-
planations unless recourse should be had
10 technical causes.
Profit taking sales We're conducted In
tremendous volume, but these encoun-
tered a greatly increased demand for
stocks on the part of the public and ap-
parently price changes were determined
by the occasional preponderance of one
or tie other of the factors Profit TAX
ing sales were particularly heavy In the
case of United States Steel shares. but
even in those securities the fluctuations
were extremely wide.
Transactions in both the common and
preferred We're exceedingly large in vol
ume and the price changes in the two
issues We're fairly uniform. The most
striking movement in the lnduStrlal ana
miscellaneous shares an advance of
over four points in Republic Iron and
Steel preferred, the movement there being
accompanied by reports that dividend
payments would soon he resumed upon
the stock and that some portion of the
accrued dividends might be distributed at
the same time
Some strong features in this group
were American Cotton Oil and the affil-
iated stocks and Colorado Fuel and
Iron. Amalgamated Copper and Ameri-
can Smelling fluctuated irregularly.
In the railway share list both Southern
Pacific and Union Tactic might be de-
scribed as having been exceptionally
strong. although in those instances also
heavy profit taking sales were apparent
from time to time Southern Pacific was
one of the leading features of the whole
market in respect to activity. Many of
the days most active movements were
noted in the railway list.
Exceptionally strong stocks in that de-
partment We're st. Paul. Northern Pa
cific, Great Northern. New York Cen
trail. E. and O. and Atchison. The
last named scored a rather remarkable
rise and in fact, together with Southern
Pacific, advanced to a new high price
of record.
Foreign Houses Buyers.
There was little news or gossip accom-
panying even the more extensive move
ments in prices.
American shares We're very strong in
the London market and with the course
of the morning foreign houses were buy
ers here of upward of $4,000 shares. chief
~ of st. Paul and the Pacific stocks
Generally speaking. however. the London
stock market was irregular for the most
part.
Little no interest appeared to be
taken in the outlook for tomorrow's bank
statement, discussions of that matter be-
ing obscured by the more exciting de-
relopments in affairs during the present
week. Money market and foreign ex-
change conditions showed no significant
alterations
The days returns of railway earnings
were for the most part encouraging ex-
hbits, and III line with those coming of
late