Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-07-19
Public Interest in Stocks is Conceded
to Be Lacking.
PERIOD OF INITIATION PREDICTED
Prevailing Conditions Must in the
End Lead to Appreciation.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

| Special Dispatch to The Evening Star.
NEW York. July I9.-Professionausr,
| equal In degree to that OF previous DAYS
| and frequent periods of absolute dulIness
| were the dominant characteristics Of to-
Gays stock market. Public interest is uni
Fersatiy conceded to be lacking and its
necessity, as condition precedent to i'm
provement. is generally admitted.
| conditions are in the main encouraging
so much SO, in fact. that many conserva-
tive houses predict a period OF imitation
once the impetus OF public demand is
| fully under way.
Ills view in the present situation has
little weight hey ond discouraging extensive
| short selling Fractional declines attract
covering and the selling interest frankly
admits that declines arise only from con-
| dltlons within the limits Of the board room
| and are not suggested by outside develop
ments. These internal conditions are such
however, as to discourage any intention
toward hasty accumulation of securities
| surplus capital is piling up in amounts
~hich reach meaningless proportions
All that can be deducted from the enor-
nous resources of the situation is that
hgher prices can be afforded and this fact
coupled with steadily increasing scarcity
VI investments, must lead to aDpreciation
PENDING the development of all The er-
uaorulnary features of the financial situa-
ton capital is forced into an inactive ana
rnous htLnl mood. Peace with Spain opens
up wider Held of diplomacy than any
heretofore covered by this government
accomplished and diplomatic Eurona IS 10
os invaded with ultimate success N il
ttnought. but with every likelihood of the
dertakings. --'e i'ai ui-
Ihere is small precedent TO reason fro-,
ana conservative capital prefers 10 remain
6nfcon5. unuI II can satisfy itself as to the
The strength of the bond market ts evil
uence OF a general belief in the fi,ture "a
pIlces: All hrst-class issues are selling -
nusIal premiums and the purchasers of the
purely speculative issues not fnfreouap,iv
represent strong interests
IN general way it may be said that crn-
TAI IS confident Of final results and is nniy
portunity. e'e~0' w
Some professional buying forced the mar
ke' up Tor time during the forenoon fba
covering OF Sugar helping the advance ma
.et iaIly. 1ne several specialties were bid
up under cover of the strength Metropolj-
tar Traction recovering TO 100
tolowing this movement was one of an
opposite character, inspired by advices
nom tampa, announcing that yellow fever
had broken out among the troops in that
vicinity. Metropolitan Traction during this
period declined to LAG 81 and had tho
customary influence on the trading else
where.
III the udS were small
II most instances. and void of special sis.'
nincance. Indications of rate demoraliza-
tlon IN certain quarters may become a dis
turelng factor unless speedily removed. The
coal fate-cutting was limited to the roads
transporting that commodity, but rate-cut-
ting oy representative trunk lines, IL fully
estapnshed. cannot fail TO exert a far
reaching influence
Sales Of war loan bonds at 103 were made
curing the day. National banks offer 20
oe!lrer fifty and one hundred thousan6
Dor as hfteen days after allotment at the
prevailing rate and interest has a tendencv
10 upset the theory that the loan was
popular one in the ordinary sense.