The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-06-03
..New York. /.
Stock Market
MODERATE LIQUIDATION
SHOWS POOR SUPPORT
Market Donhardcd ny UnfRvOrnblc
News, Gives Way in Lntc
Trading.
REACTION Is FORCED ny BEARS
incrcRsinS Activity with Declining
Prices Is Unfnvorable Condition, Dis
couraSinE to Optimtsts.
by BROADAS WALL.

", York. juno G.--'ro-day's market bonn
Mrdcd by uniayoraele news save way
disclosed poor support. AND bears taking add
vantage oi the lack OF buying orders iorced
the reaction.
The close showed & poor tone with indt-
cations that ;hc decline may further
before recovery can he expected.
New Haven disclosures have discouraged
stockholders THAT nuuidation ia the stock
was suspended on the hope that read
tustwout might restore the stock to
carly dividend basis Is again IN evidence
Under pressure throughout the day tho
price declined from TT To 63l-2, carrying
quotations we'll below tho previous low
figures established In march last. Sow that
this secondary s-lline So under way. II IS
probable thn, the price viii drop below
With r squirt at the opening. Missouri
fsciay sold al ~ 5-& dropping later L. Is "a
The successful extension Of the notes VIII
give the directors 81. days moro 80 agree
cr;y. As this WA doubt neccssi,atc Il
heavy assessment eventually. a further dc
baltimore ana Onto stockhoiders arc face
10 iRce with an investigation oi the Gin
pleasant prospect \ decision from ;he
higher court on the right OF Union Pacnc
ONO TO stockholders Will bring liquidation
when tho 'nai deere" is rendered. snd
VIII 30 In need OF funds. and ,hcee viii not
lie readily obtained with tho present atti-
tudc of investors.
Steel Was heavy. dropping below &c In spite
Of optimistic news from tho trade. Union
Pacific fell from lo5 l-s to 1885, and lnck-
81 support Coal stocka were weak Lehish
valley losing 2 l-2 and Reading SIS. Cana
dian Pacific dropped points on foreign
selling, and copper stocks declined on re
ports OF utter staEnation IN the market for
The metal.
Foreign markets were heavy. British
consols and French rentes were lower. and
Russian bonds declined sharply. Political
uStutbances in France, and fears Of fur
thor financial cmharrassmcnts at tho Paris
settlement brought moderate selling for
i9rciEn account that totalcd 10000 shores
Foreign exchange was again strong but
j." i"rthor engagements OF gold for export
were announced.
Bonds We're irregular Rock island de
Ventures were weak, ana Missouri con
vert iblc 6s firm.
Weather conditions in The Southwest mr..
tuH highly unfavorabl- to the cotton crop
according To to-day's weekly government
report Conditions in the grain holt con.
t t'm"e 20 bc hiEhIy satisfactory, particularly
Railroad earnings Cor April wor. MIXED
NltSnuil Paclnc decreased sos 600 gross
ana Si3aoho net chicago and Alton DC.
LEASED S1hp" gross. but increased not
Business failures in May established IN.
smallest total Of any month of the wear
'Hat liabilities were s23ooo oo0 against "A
siuhllcr total Of SIS 500 300 I'm Al;v lni2
'ucfeis'nE activity with dcClinin: prices
=; -" az, nnIaNGfnhle market condition high
and tho stock market IL In no position "a
Withstand "a fresh outburst OF liquidation
New York. June Gail money steady.
ii,.ai;,: ruling rate ~. closing ls.%i3.
TinsH loans steady; sixty ana ninctv d,ys
E,:. SlN months. "a. Mercantile pnper. aS.iit
demand. s. $3.50. Cominerciai bills Z, ny
In"I SliNei' "!'s. Mexican dollars. 49,. Gov
,Frnment bonds easy. Railroad bonds irrcgu-