Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-07-13
FINANCE AND TRADE
Moderate Buying Continues on Lon
don's Part.
INTERNATIONAL SECURITIES STRONG
Politics Continues to Absorb Atten-
ton in Wall Street.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, July 13.-A revival of misgiv-
ings as to the future resulted in a sharp
recession in stock values this morning
The improvement at the close of last
weeks business had all the ear marks Of
artificiality, and failed to inspire purchases
outside of the short interest. From an
opening level about on a parity with Sat-
urday's final figures, prices receded stead
lily until declines varying from 1 TO per
cent prevailed in all departments. AT the
decline the buying was not of the best the
non-professional element holding aloof as
heretofore.
In the present condition of the market
the stability of prices will decrease in di-
rect ratio to the decrease in the short in-
terest.
Politics continue TO absorb attention. the
serious phases of the outlook increasing
rather than decreasing upon more mature
reflection. There may be no fears of a
financial revolution. but there is a more
general recognition of the necessity for
combined effort against a deliberate at
tempt to inciie one. Conditions which in
spire confidence are lacking, and the bulk
of the effort is likely to oppose declines
rather than to favor advances in values.
London has net sold stocks in any sig
nificant volume, on the contrary, moderate
buying continues from time TO time, but
the comments of the English press upon
recent political developments i'm this coun-
try are not wholly reassuring, despite the
strength OF international securities in the
foreign market
The local market gives little evidence OF
support except such comes from traders
and can i'll AFFORD a reversal of foreign sem
timent.
London is rarely hasty in arriving at con-
illusions in commercial or financial opera
he
onstration has not yet been classified
speculative factor. Conservative traders
incline to this view and refrain from in
creasing present liabilities pending some
solution of the doubt.
Sentimental silver experiments should
not shake confidence in the ultimate tri-
umph of gold. but consideration for tenn
porary effects justly warrants caution.
The withdrawal Of upward of half a mill
lion gold for export in addition to mod
crate Withdrawals foe local boarding. had
tendency to emphasize the possibilities
of the present monetary nervousness. The
steady inroads being made upon tho federal
gold reserve cannot be regarded with in
difference, no matter how uniustifable they
may be- and must sooner or later he re-
flected in the course of prices
There almost no news, outside OF
politics and the gold movement, capable OF
influencing values. certainly none having an
adverse influence. Rallies following an I'M
wieidiy short interest, when such an in
brest is fully created, are altogether likely,
but immediate profits in the long account,
for more legitimate reasons, are not profit
able. Dizziness, in the absence of lqUila-
ton, may be relied on. however, as the
season and the times are both in sympathy
with contraction in all departments OF
finance and trade.
The transactions toward the close Of husl-
ness were unchanged in character. prices
ruling, in many instances, around the days
lowest level. Sugar was particularly weak,
and the railroad list. partly in sympathy
s
Elected net declines. Earnings reported dur
ing the day were fairly satisfactory. but
had no effect on the market. owing 20 The
centralizing Of interest on oih her subjects