Show STANDARD nL GIL BACKS MARKET Restraint Upon the Pressure to Sel Sell Stocks Early in inthe inthe the Day SUPPORT THEN WITHDRAWN DOWNWARD PLUNGE AT CLOSE OF SESSION New York York June The stock maket market gave evidence tody today for t 3 time ot of some effort efforts at benevolent controL This had bad the effect ot of putting restraint upon te the presure pressure to sel sell which w was so prominent prom nent lat last week week The tone nevertheless wa was one ot of dun dull depression and tere there wa was no attempt to Inaugurate any ac actual actual rIse in prices Te The principal Influence ence in te the maket market in It its effect on son sen wa was the evidence of support for sock stocks which are reputed to b be the fa favorite medium for tor maket market operations by capitalists in the Standard 01 Oil gup group Movement Movements in the general mar ket responded quie quite closely gner to the acton action of te the stocks thu thus regarded by the corn com common cornmon mon speculative opinion of professional trader traders St St Paul Amalgamated Copper ad and Union Pacific and Souther Southern Pacific are conspicuous examples The notable weakness of thee these stock stocks on Saturday aroused fe fears in the ranks ot of the habitual speculative element tat that pronounced weakness in the stock market te sto wa was to be the reflection ot of the administration plan for pros prosecution cuton ot of ie the Standard Oi Oil corn com company pany which wa was formally announced at Washington lat last week week Today Suther Southern Pacific and St St Paul showed evidence ot of aggressive support advancing at one time a poInt ad and Amalgamated Copper wa was lifted again to above pa par where it closed on Satur day This ba had the effect of creating an Impression that the Standard Oi Oil group ot of capitalists intended t to offer support to te the maket market against the depressing In Influence fluence of the hoste hostile intention of the administration Te The pero period of strength In these stok stocks wa was identical wih with that of the greatest resisting power In th the generl general maket market and the whole lt list went ent off to the lowest ot of te the dy day when Aal Copper gave way tate late In the day and showed signs of an an abandon abandonment abandonment ment of support support The comparative fir firm firmness ness of United State States Steel ad and of Penn Pennsylvania sylvania were ot of sympathetic benefit to the rest of the market marker While sentiment wa 55 affected by thee these s con there wa was no change in a ac tua tuai conditions stocks The weekly report reports of te the railroad traffic of admitted some contraction in te the shipment shipments of merchandise which wa was at attributed to the prevailing uncertainty over the crop outlook Saturdays rumors of a proposed steel combination to rival the proposed nied State States Steel corporation had some elaboration but a stiffening ten tendency dency in the foundry Iron market was of more Influence The commodity ma mar markets ket were sti still unette unsettled by varying re rc reports por ports of crop damage The approaching adjournment of con congress gross gress wa was cie cited as promising relief from some of the faor factors of f depression In the tock stock market market MetropOlitan tan made anoter another downward plunge on account of the cl call made upon members I of the syndicate for a payment of 9 90 per percent percent cent of their subscriptions Interest rate rates for time loans continued to advance and the six months bills te were raised from 6 5 to 5 54 per cent and for seven and eight months 5 per cent centa was a the asking rte rate wih with 54 per cent strongly bid Foreign exchange continued to decline in compliance e with the for mon money money ey but the London market adopted pr pro protective measures by advancing the sel sell sellIng Ing price of gold in tt that market market Te The weakness ot of te the copper market In Lon London London don was beleve believed to have some special effect on Amalgamated Copper The hrek break in Amalgamated Copper proved finaly finally ef effective In weakening the whole market and the lat last price prices were ne near the low lowet et eat of the da day and showed generl general de dines for most of the active leaders eader of one to two points ad and in a a few cases more Bond Bonds were heavy Total sates sales par value m United States bonds were al all unchanged |