Evening star., 1898-06-13
Both Long and Short Accounts Sold
Stocks Today.
PRICES SUFFERED In CONSEQUENCE
Leading Interests Were Interested
in the Decline.
GENERAL MARKET REPORTS
Special Dispatch rc The Evening Star


NEW YORK, June l3-The realizing
tendency which marked the close Of last
week became pronounced Immediately after
the opening this morning London sent
over a slightly higher range of prices and
would have assisted any advance on this
slds. Foreign houses executed a small VOL
ume of buying orders around the operinp
but discontinued the movement owing to
the manifest want of sy mpathy in the local
market
In Sugar, Brooklyn Rapid Transit and
the specialties generally. stop orders were
reached, and material concessions recorded
Long and short stock were both used 10
oepress the market, the popular impression
being that the real leaders OF the market
preferred lower prices a condition prece-
dent to another upward movement.
The yellow fever situation is being kent
in the background with considerable aift1-
Guaty, ,ea.y, ana IS certain to become dominant
influence should the disease spread 10 the
larger cities. The shares in the section di-
rectly exposed to scourge are heavier than
the market, and rally with considerable dir
short interest.
Rumors Of a somewhat compreh.nslve
business complication in Chicago were cir
culated In explanation Of liberal selling
by chicago commission houses These re-
ports lacked confirmation, but served their
purpose marketwise, the professional eIa-
ment extending the short account consid-
erably.
Chicago Gas showed isfakable a,s-
dences OF liquidation, and this selling was
IN turn renected In the entire grouD rea-
resented by the brokers for these shares
Inc big spring wheat deal was said TO
De concerned in the Chicago difficulty h,tt
a partial and thoroughly reliable denial of
the worst phases of the situation was mazda
during the early afternoon.
A rally from the low prices OF the day
set IN around delivery hour in consequence
OF such denial
A combination bid for all or any part of
the new government loan was made by
several OF the leading local financial insti-
tCtions this morning. This action insures
the government against any embarrass-
ment from lack of funds for war purposes.
III is confidently believed that the demand
for the smaller bonds will be so large thar
this lanket bid will not be reached in the
process of distribution. Should the ex-
pected success of the loan ma lerialize next
month the old fours of 1907 and the bonds
OF well-managed corporations are almost
Certain to attract the disappointed funds of
the investment classes
In the natural evolution of Investment
the general stock market will reflect the
success or the government transaction in a
Bank clearings. the excess of exports
over corresponding periods last year, a
decrease In imports. liberal increases In
railroad earnings and attendant imDrove-
ment IN dividend prospects are all fac
tors favoring record-making financial
epoch.
The present week is relied upon to de-
Velop positive war successes and at least
one branch of Congress is expected 10 favor
Hawaiian annexation. This is a strong ar
ray of facts for the optimistic party To de-
velop, and the yellow fever scare is the one
possible retarding factor.