Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-06-30
Activity Marked the Operations Of
the Day.
LOWER PRICES RULED. GENERALLY
Waiting for the Tariff Bill to
Pass.
* A NQCILLITY REIGNS
Special Dispctch to Tie Evening Star.

Special Dispctch to Tie Evening Star
NEW YORK. June 10.
The reactionary tendency noticed In YES
terday's market was even more nrono,nc..,
this morning, as the result OF the increas-
Ing holiness of professional onera,ors
During the morning one trader is estimated
10 nave sold 5000 shares of the various
actfe railroad stocks. This selling nj
tracted an initiative following. and lower
prices prevailed for a time In all the de-
p'rtments. 1t Is important to note that no
sisnihcant selling came from non-profes-
sic nal sources
Inc undertone OF the market clearly
demonstrated lack of weakness I'm the
customary application of that term
frlces were fractionally lower but IN.
buying was decidedly better than the sell
ing. The almost continuous rise In the gem
erai market has increased the proha btlities
OF reaction from day to day. and IL is rot
"hoiiy unfortunate that the recession
came at this juncture.
Inc semi-annual disbursements of in
terest and dividends will create a new in
Vestment fund. and those properties which
nave withstood realizing should attract n
Iair proportion of this new money. Organ.
ized EFFORTS TO force more than q traders
reaction seem unlikely. Arguments war
ranting further Improvement will be more
character o'P0Si'e
A safe purchasing level is more i'm de-
mand than reasonably safe selling level
Under such conditions ordinary speculative
devices Will not revolutionize Sentiment
The passage of the tariff bill in the senate
and the final adjournment OF Congress are
both sufficiently near to warrant some
enthusiasm over the removal of the great
"a tn tlasf
The temporary elimination of washing
ton as faction should be beneficial TO the
entire market.
London ignored the local realizing and
bought back some of the securities sold
yesterday. Foreign confidence in future
prosperity is. at intervals, more marked
IMAM our own. 1t Is quite possible that the
influence of London has been greatly un-
actual demonstration of this fact may not
De possible at the moment but MANY
shrewd observers admit its likelihood
1oio shipments during the balance of the
proportions. Foreign houses report an ab-
sence OF intention to ship at all
Inc reminding plan of Northwestern is 10
De submitted to the full board at a very
eerly date. probably within a fortnight IL
Is said TO include about thirty separate
MORTGAGES and will materially benefit the
stocks prospects.
The contract of the Western Union Conn
paiiy WIN the STOCK Exchange has practi-
caily been renewed. The terms and condi-
lions have been changed slightly, but the
main features are Unaltered. The stock of
the western Union Company reflected this
assurance throughout the day. The coal
shares were advanced under a further de-
mahd from the short interest inspired by
the proposed advance in rates
The granger shares were active and err
ratic: St Pau was sold in round amounts.
ana forced sympathetic weakness through
out the entlre list. 1t is thought that con-
siderable covering was in progress mn Ter
cover of the weakness
sugar and Chicago Gas We're strong and
weak by turns. There is apparently no in
.ehtioA Oh Allowing any material setback
in either at this juncture =.
The market is disposed TO become dun at
the decline, and this fact Commands adj
miration in conservative circles. The hou-
Gay on Monday is the only obstacle to
sharp recovery al the end of the week