Show STOCK MARKET PROFESSIONAl Line of Least Resistance Was Downward and Brokers Act Acted Acted Acted ed Accordingly UNION PACIFIC QUIESCENT NEW YORK CENTRAL UNDER PRESSURE New York May Ia 7 The professional pr op operators In Jn stocks had bad the market to them themselves selves today tod y They The found the line of least resistance to be downwards and accord accordingly accordIngly accordIngly sold and offered prices down to seek n i 1 profit upon the thc short side of t the mar market market ket keto The sentiment of or the day was one of or depression fostered by b several consid considerations considerations Probably the most effective of these was the abandonment of or the recent re nt operations for the rise In a handful of stocks which have hac made up the th largest proportion of ot the tho dealings for tor a consid considerable considerable considerable erable time past The perception of ot the fact that were being taKen in these stocks and the running out of the de demand denand nand mand for tor them aroused tHu suspicion of B I manipulative origin for the extensive advances adwan which have occurred and af affected affected the tone of the whole market In Inconsequence consequence Union Pacific and Reading have made up the bulk of ot the tl recent mar ket and their relapse today toda did not leave room for tor the escape of the tho general list I The check to the rise in Reading was re reinforced reInforced by b the marked weakness in Delaware Hudson which developed yesterday and continued today The pressure on this stock had the ap appearance appearance appearance of liquidation Reports of new financing Involving issues of new securities securities ties were amongst the attempted explanations explanations Union Pacific also was the subject of recurrent rumors of an issue of ot new securities to finance its requirements New NewYork NewYork ew York Central was under some Iome degree debree of positive pressure which was wa attributed to the disappointment felt by over the large deficit below the require requirement requirement ment shown by b the earnings for the March quarter This showing In fact has ha proved a factor of discussion in the whole market and arni its influence has not subsided with the elapsed since its publication cation The prospects continued to be a disturbing Influence in the stock mar marKt marl markt Kt l t in of ot the published views of a n number rumber df of competent authorities In a tone tonet t f warning against exaggerated fears for forthe forthe I the crops at th present stage tat The week v bulletin of the tiu weather bureau gave ve f jn md c Information however of ot decidedly unfavorable conditions over a large part of pf th Ui winter wheat region Traders Tracers In Intoe toots toe were Inclined to discount an un unfavorable Unfavorable favorable report from the tha agricultural on Friday There was vas some discussion of possible unfavorable developments In the money mone situation prompted by the suggestion of oft t lin n early farly outgo of gold ld from here to Paris and by b rumors that the secretary ry of the trE was about to withdraw part Ot of the tho government deposit with the banks Tre Thre re was a decline In sterling exchange h Jfe ra and a rise at Paris during the day both of these movements widening the I margin which exists before gold ship shipments shipments ments to Paris would become becom profitable The Th alleged Intention to withdraw govern Jovern government ment meat deposits was denied Transfers of n to San Francisco yesterday and andt t da W 11 sUd spid to be b Induced by bV open ic I of nt reconstruction work In n that city elt rie he hf market m Is a factor in the diminishing bk l k ie Is in New York Tork The long strike was regarded as an m tin nfl tint t ant int Incident in Its possible effect on 1 all road traffic enterIng Coverings t tort orts caused C recover of Dart of the thet t v s Atchison tison tc lson some Iome irr tb to in mor mol favorable v w of f the controvertible bond honel Issues Ko p i i vr wr r Irregular total saies par 1 I l wr ne re n co |