Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-07-06
Professional Selling Depressas Prices
on WaHStreet Today.
BURLINGTON LEADING SUFFERER
American Sugar Advances Under
Advices Regarding Tariff.
GENERAL MARKET REPORTS


Special Dispatch to The Evening star.
NEW YORK, July 6.-Under the influence
Of lower London market, local prizes
yielded to professional selling during the
opening hour this morning Foreign houses
sold a few stocks, but there was no pres
sure to sell, except to take speculative
profits
The market, as usual, became dull at. the
decline and commission buying of small
proportions came in as a factor.
The bituminous coal strike was dis
turbing element for time. but later ad-
vices from the strike districts had a ten
dency to belittle the significance of the
movement. In consequence of this change
of view the stocks sold during the morn
ing were, in many instances, repurchased
during the afternoon.
The undertone of the market was de-
cidedly encouraging even at the periods of
the greatest depression. Liquidation was
apparently as little contemplated as it was
evident. Dizziness was entirely natural,
but the resistance developed was regard
ed as an indication of future Improvement
Washington adviceS on the tariff bill
We're somewhat more hopeful than hereto
fore, and an early vote is generally ex-
pected.
The caucus abandonment of the beet
sugar bounty was taken as an argument
favorable to the American company. A
fair buying demand followed the receipt of
this news.
The short interest in Sugar is said to be
approaching unwieldy proportions. One
reason for the continued holding out of
this interest committed to lower prices is
that the House confereeS are expected to
insist upon return to the Dingley rates.
Expert opinion differs widely as to the
utility of the House tariff rates for the
purposes of depression.
The present dividend rate is not likely to
be jeopardized by any action now probable
Should a compromise between the two
propositions be agreed upon in conference
the Senate retain it's schedule a distri-
button of the comDahy's surplus is believ-
ed to be in contemplation. 1t may or may
not be significant to note that the bulk of
the short interest in the property is out
side of the city and furthest from the Sc
cretS of the management.
Inc Granger roads were disposed to re-
cede during the morning, the weakness of
burlington being especially pronounced
The weekly crop report and the full report
for the month, to be given out at the end
OF the week. are relied upon to stimulate
activity in these shares.
Earnings received during the day were
generally favorable. and would nave been
more fully reflected in a less narrow mar
ket. az rs
The holiday, interruption was as much of
disadvantage the day after as it was the
day before. Il
Until vote on The tariff bill is taken the
arket is likely to be neglected except py
the room element Should this vote be
taken at an early. date, and the bill be sub
jected to vigorous business treatment in
conference, the industrial shares are relied
upon to become conspicuous as leaders of
the entire market. The low-priced stocks
are second preference upon the happening
of the same contiIigenCy.