Evening star., 1900-08-07
ALI the Influences Tended Toward
DullneSs in Stocks.
SOME TRANSACTIONS IN AFCHISON
Disposition to Buy Pacific Shares
on the Breaks.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK, August 1-Fears OF gold
shipments on large SCALE the Chinese war
and the decreased attendance due to the
superior attractions OF the yacht races re-
suited In an unusually dull and stupid mar
ket this morning. The foreign markets were
irregular and in no mood to undertake new
risks.
The Chinese matter is engrossing atten-
ton abroad and no outcome entirely reas-
suring either to politics or finance IS imme-
diately probable
The gold outflow is estimated as being
likely TO exceed SIS. 0O0p In all. The en-
been increased to S2.5O0.O0o. The total To-
cal subscriptions TO the Bank OF England
loan are said to be equal to the entire
amount offered, SJ0.oo00oo.
The payments on account OF the transac-
ton will take gold out OF the country for
weeks to come Bankers view the iransac-
ton In the light OF a testimonial to Amer-
can prosperity and the recently assumed
dignity Of credit nation. Borrowers are
beginning to see the advantage Of time
loans. now that the uncertainties of the
fall months have to be added to the gold
movement.
Politics. the preliminary arrangements for
moving the crops. a loss OF gold TO Europe.
the timidity OF the public and the unknown
disposition OF the Chinese elephant are vital
forces operating against prices. Profess
sional traders are moderately hopeful OF
higher prices. relying mainly upon under
writing syndicates and pools to sustain the
market. The dullness is thought to have
served the purpose OF a reaction. inasmuch
as conservative interests have adjusted
their affairs OF the point OF safety
An advance in money will not mean a
scare in the security markets IL is urged
and political debates will scare only the
fractions from prices. This view is encour-
aging, but old operators say II the public
insists upon waiting they will wait with
them.
Conditions being admittedly unfavorable
to big market. the ability to hold the
present level Will depend entirely upon in
dividual conditions.
The property showing a steady growth in
business and paying dividends will be pre-
ferred to the less progressive property
Stocks selling upon safe-inyestment basis
and having the longest record for merit
will find ready market. while the newer
Issues are left to the proving of their
worth. The industrial list at all times will
be of secondary interest during this period
Of neglect or discrimination
Union Pacific and Atchison were again
features of the trading. but the business
In them was mixed in character. Really
ing sales prevented any gains. but on the
way down the willingness To buy was
again noticeable. II is thought that inside
interests have unloaded round amounts Of
Union Pacific on the advance and that q
reaction will be awaited before new buy
ing on a large scale appears
The Atchison pool is believed to be In posi-
ton TO make the most Of any favorable
market movement, but no effort is being
made to force an advance In defiance of gem
eral conditions.
Some covering in Sugar kept the price
relatively steady. Further cuts in the soft
grades are announced, but the American
company insists that old rate-war losses
are not TO be duplicated. Standard OIL di-
rectors declared quarterly dividend of s.
per share.
Earnings from all sources were consId-
cred good in view Of the comparisons with
large earnings one year ago.
The total sales show that the record for
dullness was made for the season thus far