Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-06-27
A Short Session and q Sharp De-
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cline
FEARS OF CURRENCY REVOLUTION
The Market Does Not Question the
Result at Chicago.
VENEZUELAN QUESTION
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, June 27.-Stock values at
the close Of the week reflect declines vary
Ing from ~ to Sla per cent by comparison
with the closing level OF the preceding
week. Today's short session alone may be
credited with a liberal proportion of the
total loss. the selling this morning result
ing in a general depreciation of values in
all departments. Financial concern is SUI
perior to all other forces and a wholesale
reduction Of liabilities is in progress in an
ticipation of a strong declaration for sill
yer. Liquidation and a general abandon
ment Of the long account have been
prompted by fears Of a currency resolution.
Speculative nervousness was especially
marked right at the close of todays busie
ness. with values at the lowest point OF
recent date
1t will be remembered that the gold plank
in the st. Louis platform had exhausted
its speculative influence prior to its actual
adoption. 1t is reasonably probable that
the discounting of the silver clause will
terminate with its official confirmation in
Chicago That silver will be enthusiastic
cally Endorsed has not been seriously Ques-
TONED for several weeks past. Tie delay
in taking fright at the prospect is the nat
ural result Of speculative nearsightedness.
The Venezuelan episode was leisureiy COM
mented upon for four days before its real
significance was detected. The difference
in time required for a true recognition of
the possibilities Of these two events
fleets in fairly accurate degree the rela-
tive significance OF the events themselves
Routine influences are in a majority OF
fstances favorable to value. but for the
present extraordinary factors are to be
given first consideration. The market re-
tar S its professional characteristics. and is
consequently susceptible to very slight
changes. The coming week will be given
over largely to political gossip. and present
Indications do not justify optimistic
forecaSting of the result. The midsum-
mer decline will in all probability be looked
back upon next fall a period of excep-
ttoral speculative chances.
The enormous transactions in American
Sugar, eliminating in decline of nearly y
per cent for the week. have had a de-
pressing influence on the entire list. There
Is little evidence OF any permanent change
in the direction Of this stock prior to the
solution Of the political doubts elsewhere
operative. The coal shares have been a
trife stronger than the general market for
purely legitimate reasons. This latter
group Of securities are relied upon to take
conspicuous position in the next general
rally in prices. The Improvement In Read
ing affairs has been clearly demonstrated
by recent events.
The bank statement reflects a gain of
81 10000 in lawful NOR ey, mostly in legal
tenders. Large receipts from interior points
and decrease in the export movement
combine in producing this result A liberal
Increase in cash holdings is entirely re-
sponsible for the moderate increases In the
remaining items of the statement