Evening star., 1898-07-08
Large Operators Continue to Show
Lack of Interest.
AWAITING DECISIVE WAR NEWS
Adjournment of Congress and Peace
Prospects Influence Prices.
GENERAL MARKET REPORTS
Special Dispatch to The Evening star.

Special Dispatch to The Evening Star
NEW YORK, July s.-London prices for
American railway shares were fractionally
higher this morning as the result of the
peace prospects presented by the foreign
press. The local market responded will
lngiy 10 this outlook and ruled steady at
fractional advances from the closing level.
Inc volume of business was limited 20
the familiar proportions OF a traders mar
ket, and except in a few instances reflect
ed lack of interest on the part of the
larger operators
The Vanderbilt issues. New York Central
in particular, were advanced under good
buying for substantial gains The Influence
OF this buying served &c steady the entire
list some speculative buying by the room
being noted in the Grangers and a few OF
the low-priced specialties Manhattan and
Brooklyn Rapid Transit are quoted as being
Probable parties to a contract looking to
an enlarged excursion business
Ihe latter property has made satisfac-
tory strides toward the dividend list and its
frlends are confident Of an early achieve
ment of this result.
While some indications of reviving inter-
est In speculation are apparent the public
rs disposed to await further war advices
before proceeding with any extension OF
stock risks. The adjournment of Congress
and the peace arguments now prevailing
here had some influence already but have
not been received as evidences of a certain
cessation Of hostilities
In addition to the caution suggested by
the probability of early and important news
from the front. there is the new government
war loan tending toward the same end
Semi-ofhciai figures have since the first
rev days OF the subscription given assur-
ahces OF a large over inquiry, and there can
De no doubt as to the governments position
in the matter.
Financial institutions which must bear
the brunt of this demand are holding large
sums OF cash in readiness to meet the
needs of depositcrs If the loan has been
subscribed four times over its total amount
then four times as much money as the gov
erIiment desires must be available
raining TO Ind employ ment for the bal
ance IN a government transaction, unsuc.
ceSsful bidders sic expected to turn to The
securities OF private corporations Iri con-
sequence of this prospect there is d fair
market for all securities at any concession
ircm recent top prices. Declines are fol-
loved by dullness. because there Is littIa
aggressive buying and an almost conplete
absence of material or which TO sell.
Buying is contemplated in many in
stances, should present optimistic forecasts
be realized, but there is no belief IN hasty
action.
a decisive victory by the army is awaited
and the receipt of such news should find
the market in a peculiarly responsive con-
dlton. At the moment profits are taken
as they accrue and delivery hours is usual
ly a period for curtailing risks over night.
Professional traders are in control of
prices, aid while following good buying oc-
casionally, are not disposed TO wait for
large returns. The entire market closed
under Its best level because of this general
evening up at the end of the week