Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-06-01
FINANCE AND TRADE
London Buying Causes Prices to Ad-
vance FractiOnally.
VOLUME OF BUSINESS DWINDLED
Silver Agitation Likely to Be a
Factor.
GENERAL MARKET REPORTS
)ecial Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, June 1-Opening prices
this morning We're fract!onally higher
than those recorded at the close OF last
weeks business, London buying and the
covering of short contracts inspiring the
advance. Foreign buying of Louisville and
Nashville was conspicuous during the early
trading, l per cent advance in price be
ing almost wholly due to the demand from
abroad.
An increase of $13. 531 in net earnings for
the month of April contributed TO the sue
cess OF the early movement.
The general list was advanced from u to
u per cent, but was only indifferently sup
ported at the advance. The volume of bust
ness dwindled to the stagnation point, and
values subsequently yielded to realizing
sales by the room. the general character
of the market is unchanged the marked
waiting tendency, so conspicuous durif.a,
the last fortnight, dominating all other
features. The adjournment of Congress IS
relied upon TO overcome the present inertia
but the proportions of such movement
must necessarily be dwarfed while radical
political changes are pending. From A
speculative standpoint, the dissolution of
Congress Is condition precelent to
proper Application of ordinary forces and
no significant undertakings are proba bic
uhul the actual date of adjournment is an
nounced
A brief period cf activity and a higher
range of values should follow this an
hoGncement, bat politics will undoubtedly
come 10 the 'front.' as controlling influence.
In consequence of such condition. prices
are likely TO be subjected to FREQUENT
changes in direction.
Silver agitation. no matter how poor the
prospects OF final victory may be- will be
an important factor, If present indications
are not misleading. The successful presy-
GENITAL candidate must he elected on a sound
money platform. A direct contest between
gold and silver is not unlikely and IL not
altogether undesirable
The result must prove satisfactory. but
during the huctuating fortunes of the two
ca uses during the period preceding a vote
Stock values will be extremely sensitive
The voting population will be given an ex-
celient opportunity this fail for establish
ing intrinsic values.
Present prospects are favorable in this
respect, but such prospects are too remot.
Tor immediate adoption as speculative in
nuences. Washington advices and conyen-
lioh reports are first 10 be considered, and
after lhem crop reports.
The latter should prove satisfactory apd
VIII be employed in the near future to bet
Ter advantage than heretofore
ne lore, g. exchange market continues
STEADY under small offerings of bankers
bills. The engagement of S5po 600 for a,-
PoFt by tomorrows steamer was announced
curing the morning, but attracted no sip
niIcahl comment. In some quarters a re-
auction In the outflow is predicted but
"eil-informed interests are disposed to re-
gard any cessation a this tim. as merely
temporary In view of this prospect the
ANITA sonlsm to the Butler land bill is not
unnatural The national credit has fre>
quently been sustained by the vested pow
ers now sought to be repealed The mass
age OF SUCH a measure at this juncture
MouId De disastrous, circumstance ius-
tlying It's prospective and emphatic de-
1eat in the lower house, at least.