The times. [volume] (Washington [D.C.]) 1897-1901, 1900-08-25

Yesterdays stock market was like all
that have preceded it for many days, with
business verging on a stanGstill and
price fluctuations hardly worth recording.
TIE exchange was exceedingly dull all
day and even the most popular brokers'
Offices were deserted. There was triile
less strong tone throughout, the small
movements of the day being for the most
part declines. II seems entirely probable
that this beginning Of a reaction may
extend somewhat further possibly
point OF Two II there IS no good news OF
importance or if there is anything sig
nificantly unpleasant. Prices had gradu-
ally advanced from two to five or six
points in the past month or more when
this week began. and it was pointed out in
this column several days ago that re-
action was due. The downward movement
has begun. and. although there is no rea-
son to expect anything like a sharp
break. a gradual sliding downward Of the
level seems likely. simply in the way OF
q professional readiustment. Careful peo-
pie advise the purchase of good securities
on this decline !. it occurs today or next
week.
The bank statement today will probably
be a good one. The banks have gained
it is estimated. They have lost little or
nothing to the interior. AS yet the great
abundance Of money throughout the
country has prevented any pereeptible
hardening of money rates, but it is not
likely that the bottom rates will continue
much longer. However financial men do
not look for anything like a money panic.
News yesterday was not Of much i'm
portanee or interest The Brooklyn
Rapid Transit quarterly statement was
given to the public. and it was not con-
sidered a very good one. What purDorted
to be the provisions Of Mr.. Huntington's
will regarding his Southern Pacific stock
was given out by one OF the news bureaus.
He does not wish to have the stock sold,
and it Will not be. il this statement is
correct. There was no change in the
price Of refined sugar. though there had
been some talk OF a email cut on some
grades. The ways Of saying that the
market is peralyzed with summer dull
ness have almost been exhausted. Each
day is a reiterRtioH Of the day before, but
the market writer's have endeavored to
describe the dulIress in new ways in order
10 keep up the interest. There are signs
that II the market does not hange shortly
the market writer's will get into trouble.
Mr. Huntlngton's provisions for the dis
posal OF his Southern Pacific stock should
have very good effect on the market
value of the stock. They show that he
has the utmost faith in the system, and
they definitely and certainly remove a
large block Of the stock from the market
for long time 10 come. Mr. Huntington
leaves two-thirds OF his Southern Pacific
to his wife and one-third 10 his son, H.
z. Huntington, stipulating that none of
the stock Of either shall be disposed OF
while either shall live, except by formal
written agreement between them. II
would seem. too that this disposal Of the
stock probably ensures the appointment of
T. e. Huntington as the President OF the
Company. /: seems probable that there
may be good advance In Southern Pacific
In the near future II the general market Is