The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1910-06-30
WALL STREET REVIEW.
Ry Associated Press

NC" VI n. June Ga SUSTAINING eHGCt
on opening. prices of stocks was exercised
by the higher quotations sent from Lon
don Reading. Atchison. Chesapeake and
ONO, American Car and Utah Copper
rose "a, Canadian Pacific and Rock
Island point. The dealings were in
small volume.
Prices took a sharp dip with the grain
carriers the weak features. After some
severe losses had been .esta blished the
market received support and the losses
York Central were depressed /, Great
Northern pfd 1 IA, Northern Pacific /
Denver and Rio Grande pfd was lifted
3-8 and st. Louis Southwestern pfd and
International Harvester 1.
The features of the stock market was
the languid demand on any recovery of
prices, which yielded easily on light Of
ferings: Spring wheat crop damage re-
ports kept sentiment disturbed, Atchi-
/, Union Pacific IA, Southern Pacific l
3-s, Virginia Carolina Chemical pfd 1 IL,
and Mackay Companies 2. Atlantic Coast
Line and Colorado Fuel rose 1. Bonds
were easier
Shortly after midday the, street re-
affecting western railroad rates. and the
market broke badly on heavy selling.
The lowest prices Of the year were made
Pacific slumped 3 Ia, Southern Pacific
3, st. Paul, Atchison and Great Northern
Ore certificates 2 IL, Reading, 2 s.S. c.
were some signs of support around the
| lower levels and the market rallied
slightly and became dull.
The market broke violently again in
the middle of the afternoon and prices of
the important stocks averaged point or
more lower than in the previous break.
Union Pacific dropped IA, Reading and
United States Pipe pfd 8, ST. Paul and
L. & N, Northern Pacific Steel ga, and
New York Central, Central c. & o. Kan
sas 3.
NEW YORK FUTURES.
New York, June 29.-The cotton mar
to an advance Of 6 points, and during
the early trading sold up to net ad-
vance of about Is to p points on the
old, and to IL points on the new crop
positions. Business was fairly active.
bulls We're more aggressive and shorts
the late rally in Liverpool, private cables
reporting the market there oversold. a
bullish private condition report on Texas
and rains in the eastern belt. Realizing
became little less active, but the un-
dertone of the market was steady.
A private condition report indicating a
deterioration in the average promise of
the crop of a 1 per cent for the mon tn
caused a further modification of sentf-
ment as to the probable showing of the
government figures on Friday and near
months shorts ran the market up to
net advance of about II to IS points. Re
actions Of or points followed and the
gain of from 10 to "a points.
The market was much less active dur
Ing the afternoon and prices eased off
from the best under scattered realizing
with active positions showing q DISPOSE
ton to steady at net advances Of about
looking for a renewal Of wall street COW
erfng on any dip Of consequence.
NEW oRLEAN FUTURES.
New Orleans, June 29.-Cotton futures
opened steady enough, but in rather. an
IRREGULAR way; the old crop being points
were to points up. Cables were not
favorable, either on spots or futures, but
their influence was offset by extremely
market looked oversold. Prices were also
stimulated by the a az iSa 6,, G, that
offered to bet S. 600 that the next crop
would not total 10000 bales, Hester's
figures. This same trader also wired
to to Buy buy 10000 bales Of July at 1910. The
weather map showed too much rain In
the eastern half of the cotton belt and
bullish features created demand that
more than absorbed the rather free offer
ngs from bear shot traders ess who TeTe put
of a fresh government report on next
Friday At the end of the first hour Of
trading the market was steady at an ad-
vance of to 9 points.
Determined bull support was offered
the market and decided firmness was ex-
hibited around the middle Of the npOrntr
when July was put % points up from the
lowest, touching 1495. August was put
II points up from the price made in ~
early trading and the new crop months
increased their advance until they stood
II to Is points over yesterdays close.
The rise was all the more surprising and
disconcerting TO the bears because of the
almost general expectation. freely ex-
pressed by bulls and bears alike, that the
government report on condition Friday
ipo in
Of at least points. Toward noon bull
support was withdrawn, but the demand
from shorts was still sufficient to main
tain a steady tone. At noon the market
was steady, 4 to 8 points down from the
highest.