Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-06-04
Wall Street Values Profted Little
by the Days Transactions.
An UNDERCURRENT OF PESOIMISK
Effect of Decreased Missouri Pa
cific Earnings.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, June 4.-London cables re-
fiected moderate Improvement in the mar
ket for international securities but brought
no significant commissions to this side The
volume of local business is unimproved and
values in consequence profited little by the
days transactions. An undercurrent Of
pessimism is noticeable among the profess
sional traders now in control OF prices.
Good news is regarded as of temporary
Importance only, while adverse intelligence
is acted upon to the fullest extent
A decrease of $4,000 in Missouri Pacifics
earnings for the fourth week in May due
to traffic distractions incident to the st.
Louis cyclone. resulted in decline Of 3 3
per cent In the price of the stock. The to-
tai reported decrease Of this system for the
month of May is S2l5OD0.
The declaration of the regular dividends
on both the common and preferred stock OF
the Northwestern, accompanied by a state
ment of earnings showing A surplus after
charges of $3.50 707, against S2s5l .355 pre-
Niously reported. had no effect on the price
OF the stock. From this statement IL is ap-
parent that the present dividend rate rep
resents only a trifie more than one-half Of
the actual earnings
The vote of the ways and means commit
tee on the Butler bond bill was another en-
couragtng development which passed un-
noticed as a speculative factor. The mar
rowness of the market alone explains In
difference of this character The publica-
ton OF old political letter, written by
the leading republican candidate several
years ago. had an adverse influence on
both the volume Of business and the ten
cency Of prices. Reference to a freer use
OF silver in the national currency and a
marked hostility to trusts were particu-
larly disturbing influences.
In view OF the present agitation Of the
silver question and its probable effect on
sentiment and effort to advance the price
of silver bullion certificates is again no.
tlceable. Since the closing of the Indian
minis this commodity has been practically
neglected. but the varying fortunes Of this
years presidential campaign are relied
upon to bring II well to the front as an
active speculative speciality.
The price today was advanced to 50 3-s a
gain OF 3-s per cent over yesterdays reg
ular transactions
The certainty of foreclosure PROCEEDINGS
by Readings bondholders attracted some
selling of the stock Of that company Dur
Ing the afternoon a moderate buying de-
nand from commission houses was en-
&C untered In the coal shares. and some IA
Norable developments are anticipated from
inside sources
The market for foreign exchange was ex-
uemely dull, with an increasing tendency
toward further recession from the specie
point. An increased supply Of sixty-1ay
drawings is reported as the result of Mr.
Morgan's successful placing of American
securities in London.
At the present time gold exports are not
profitable to the exporter unless consigned
to Germany under contract providing for
conlnission. As no direct German steam
er Sails from this port until Tuesday OF
next week, no significant outflow is like
ly during the present week.