Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-07-14
Stocks We're Dull Today and Prices
Almost Stationary.
UNION PACIFIC THE EXCEPTION
Little VIII Be Done Till Vacation
Period Ends.
GENERAL MARKET REPORTS

Special Dispatch 10 The Evening Star.
NEW YORK, July IA lack OF new
business and a Discrimination on the part of
traders to engage in new risks over Sun
day resulted in stupid and inconseauen-
tial price movement this morning The
foreign markets were irregular and in
clined to small dealings as the result of the
uncertainties in China. Local buying was
OF character suggesting previous sales
Inc various pools supported prices but
bought only what was necessary to that
end.
The bank statement was a decided i'm
provement over last weeks statement, and
contributed to slight recovery in prices.
The gain in lawful money is s4,SS1 900.
nearly all in specie. Loans have decreased
N.6Si,90o. and the deposits have Increased
81. 840.3 300. The net result is shown by an
Increase Of s4.31o 925 in the surplus reserve.
The monetary situation has improved in
every respect with the exception of the
sterling market, in which rates are again
at the gold shipping point. Local houses
may be tempted to accept the small mar
gin of profit on shipments during the COM
ing week, but 1t is not likely that the mar
ket will give the matter any special at
tention in the absence of other discourage
ing news.
The feature of the week has been the re-
covery in Union Pacific common on it's
prospects of an enlarged dividend. The
stock closes today over 45a per cent above
last weeks figures, and was decidedly the
most favored stock in the market There
is some difference of opinion as to the pros
poets for establishing the commotn stock
upon dividend basis equal to the pre-
ferred. Those who do believe in II are buy
ing more stock than those of the opposite
belief are willing to sell. Conservative
management Is always desirable, but a
stock earning per cent might pay one
half the amount to shareholders without
fmpairing such a reputation
In Baltimore and Ohio there IL an i'm
portant movement pending as the result of
the dividend on those shares. a contest be-
tween 1 and a per cent rate being as
sured. The meeting next Wednesday may
throw some light on the subject but the
regular period for the dividend is August.
The common stock is already ) per cent
higher than Atchison Preferred, which is
paying , per cent. and the room for i'm
provement, If the best happens is not large,
unless the latter stock is selling under
value.
There is manipulation to depend upon, OF
course, but the present market is not
wholly one-sided affair, and there is no
enthusiasm. There is a good absorbing de-
mand for Northern Pacific common, and
the selling party may be forced into "A spir-
tied covering movement, once the general
character of the news will admit Of such
an undertaking
There is almost no prospect for a sub.
stdntial recovery in prices and instead of a
general movement there is only a chance
for special movement in one or two is
sues at time. This week Union Pacific
was the feature and is likely to share the
distinction with Baltimore and Ohio during
the next ten days. Dizziness will overtou
all other factors until the vacation season
is ended.