Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-06-03
Stocks Were Stronger Today Under
Commission House Buying.
DISAPPOINTING BANK STATEMENT
impression That improvement vii
Be Realized Soon.
GENERAL MARKET REPORTS
Special Dispatch to The Evening star

Special Dispatch 10 The Evening star
NEW YORK. June 3.-Some increas, I'm
the volume OF commission business was
noticed during the opening hour this NOM
ing. the rally of yesterday afternoon run
ming up to new levels i'm Consequence. Trad
ers were disposed to realize on TN. rUr-
chases made earlier in the week. and no
selling soon stayed the upward movement
London's holiday helped 10 reduce ,hr vol
ume of trading I'm the leading international
issues. The early reports as % the prob
able showing To be made 10y the weekly
bank statement were all favorable 90 l.-
crease in cash holdings. and This fact helped
sentiment for time
The statement itself however was a dis
appointment in this particular. a loss II
sl,l34.o0 being reported in lawful money
holdings, all in specie.
The loans have been increased very
slightly, indicating. II is thought, a cessa-
ton of stock liquidation.
The weeks trading has been confined To
three and one-half days, ana the changes
due to stock market operations are natural
ly small. A small increase in deposits Is
followed by a decrease Of l.210.O00 In ths
reserve. the discrepancy between The two
items being inconsistent.
Inc net result reduces the surplus
serve holdings TO So. I56.GIo an amount en-.
tirely ample for all legitimate needs. This
only result of the statement was to encour-
age some selling on the part OF the room
and to discourage immediate purchases by
&C mmissiCn houses.
The developments Of the last two DAYS
have tended to prove that the iron and st...l
stocks are TO be forced into positions II
prominence.
The dividends to be declared upon them IN
the near future. together with the usual
argument as to the influence OF liberal July
disbursements. may help to carry out tine
proposed market movement. There is less
disposition to be skeptiCal Of the earning
capacity OF the two larger steel concerns
and the payment of dividends on both the
common and preferred shares should at
least remove the ban from the latter What
ever may develop In the immediate mar
ket Is likely to demonstrate the presence. of
two opposing factions
The party organized to depress prices is
disposed TO consider the present recovery
merely as rally. which will run It's course
and make new selling attractive. This view
sounds rational enough and would have
been attended with substantial evidences of
Elndlcatfon under the conditions which have
put recently dominated the surface of the
situation. At this time there is evidently
an effort to be made to again attract the
public's interest to the market and force a
midsummer advance
Easy money and the half-yearly disburse-
larger volume than formerly owing to
larger volume than formerly owing to
European liquidation of high-class issues
VIII help to thwart the efforts of the de-
pressing party even though no important
gains accrue. Some time In advance of
next winters political demonstrations
against trusts and the currency important
syndlcates must make a high level to sell
on The arguments Of the next few weeks
may be as sound as any likely to appear
during this free season.