Evening star., 1896-07-16
FINANCE AND TRADE
Depressing Eject on Prices of
Cowboy Politics."
DECLINES IN ALL DEPARTMENTS
Mr.. Vanderbilt's Illness as a Specu-
lative Factor.
GENERAL MARKET REPORTS
Special Dispitch 10 The Evening Star.

Special Dispitch 10 The Evening Star
NEW YORK, July I8-"Cowboy politics"
overshadowed speculation again this morn
ing, and resulted in the recording of a new
low level for all active securities Declines
varying from = to per cent were at one
time visible in all departments Liquida-
ton by commission houses, as the result of
exhausted margins materially assisted the
professional selling for the short account.
rive per cent fluctuations, between sales,
In a property like Lake Shore serve to en-
phasize the nervousness now prevailing in
speculative circles.
Mr.. Nanderbilt's illness was magnified be.
yond all reason, a market influence the
bulletins from his physicians being utilized
in explanation of declines which would
nave IN all probability been ascribed TO the
silver agitation had the health of the gen
tleman IN question been good.
Prices declined simply from A lameniable
lack OF confidence or the part of large
financial interests and the general recogni-
ton of this fact by adventurous hears The
threatened overthrow of both govern
ment and creoit has been n.agni-
lied and 3eliberation is no longer reflected
N stock operations
A return to reason would insure a higher
range OF values. II is almost universally
conceded, in conservative circles. that there
has been a wide divergence established be-
.~eeh prices d1iu VdlueS during the last few
days.
Were the people unanimous in urging the
inauguration of free silver epoch II
"ohln require many months to get the
wrecklng machinery I'm operation and
ihere should consequently be no Immediate
hurry to liquidate present holdings The
sciilnS has all the surface indications Of
hafinS been overdone and a proper regard
iot risks IN the short account should force
a liquidation of short contracts
The determination of the foreign banking
institutions TO confine gold shipments TO
the smallest possible limit was one OF the
most encouraging of the DAYS develop-
ments: While some gold will go out by
Saturdays steamers. IL is now evident
that the outflow will be limited TO actual
| necessity. Rumors OF 4 bond issue were
again circulated. as the result of the re-
cent detection below the conventional hum
dred million mark. but this arbitrary dan-
ger limit no longer exists except among
sentimental traders
III should, and does, warrant pru5enca
however. but many millions remain 10 hs
WITHDRAWN before active bond issue pr.n-
aratlons begin. Ii is unusually comforting
10 Know that in the event of an emergency
there is still an administration strong in
its CONVICTIONS as to the methods of hon
oraDly protecting the national credit
Inc market rallied moderately during the
tater uadlns on the covering of early sales
ana a mo oderate increase in the volume OF
iegltimate business. Many weak holders
We're forced out during the morning and
the danger OF sharp declines on stop-Ioss
qrders has been considerably reduced IL
I.ohoon refuses to Join In the local fear
.ie present movement should expire with
the week. VIVA