Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-07-26
Bears Faced Slight Concession in
Stocks During Closing Hours.
COMMISSION HOUSES DOING LITTLE
Granger Shares Were Picked Up
on the Declines.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch 10 The Evening Star.
NEW YORK, July 26.-Today's stock
market was again apathetic and void Of
significant feature. Prices held firmly
around the recent average but no new
business was attracted. The disposition to
buy stocks is in many instances counter
acted by doubt as to the proper time for
making new ventures. Brokers advise eau
tion in the hope that the money market
may be brought back into harmony with
prevailing optimistic arguments
railroad officials report heavy traffic in
the west and the granger properties find a.
willing market on all concessions
The buying Of Rock Island and St Louis
and Southwestern by the same interests IS
the occasion of rumors relative to the pos
sibiity of closer relationship between the
two properties. The earnings of The former
property are showing encouraging gains.
but an accumulation of stock IS evidently
preferred TO an aggressive advance at this
time.
kansas and Texas issues were taken I'm
round accounts during the day on the pros
pect of increasing business and the favor
able showing to be made In its forthcoming
report.
With the exception of a sporadic demand
from commission houses the market was
toward
considerable irregulsrity during the later
tracing. Quotations are suffering rom a
lack of interest and from no other material
drawback
The money market. in view of the in
creased liabilities OF the banks and their
small surplus reserve, is likely to continue
as factor over the August disbursement
period. Should this period be passed with
out mishap It Will bring the season well
up to the time CT a gradual homeward
movement from summer resorts.
An increase in personal interest and the
failure to add new causes Of alarm to the
situation should operate to the good of the
entire market. A waiting market with its
foundation fully equal to its height. about
describes the present situation.
Traders sold few stocks during the af-
teriloon because Of the dulness, and sue
ceeded in forcing off few fractions. There
was nothing new to work on, and believers
In ultimately higher prices We're willing to
allow traders to sell without restraint in
the interest Of adding short account to
the list of arguments for the rise
The desire to lend money by corporations
having surplus fund beyond immediate
needs has had tendency TO prevent any
advance in money rates. The American
Linseed Oil Company has offered 81 900 900
so far this week
certain instances fer the placing of private
funds. bringing the actual rate to the
Tended down under the quoted rate in the
lean crowd. Money loaned at 3js during
tie day, but the per cent rate is the most
accurate reflection of the money market.
Brokers who anticipate an active commits
sion business are making time loans at the
latter rate because of a belief that high
money rates. due 10 increased commercial
activity, will not prevent higher prices and
greater activity in the stock market The
market acts well for the season. and would
seem to warrant confidence in the inaugu-
Ialon and elimination of advance some
where between the end of the vacation
season ana the converting of Congress.