Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-06-08
Trouble in China Inspires Distrust
in Stock Market,
ANOTHER DULL DAY ON 'CHANGE
Some Good Buying of the Coal
Roads Shares.
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star.
NEW YORK. June s-The early trading
In today's stock market showed tendency
toward improvement, but the movement
faded into dizziness as it's predecessors have
done. London was willing to buy few
shares. but only In moderate volume. The
foreign markets are disturbed over the
Chinese situation and are not in condition
to take large blocks of American shares.
AS the fears subside. as they do upon the
occasional diplomatic assurances that seri-
Gus trouble will be averted. attention turns
to the American railway department
Today's local movement presented little
of interest outside of the buying of the
coal shares. The demand for Reading is
sues was called good, the preferred stock
being advanced under liberal purchases.
Jersey Central was taken quietly and ru-
morS of important consultations were
again rife. Pennsylvania and Baltimore
and Ohio always appear in these rumors
the leasing or purchasing parties. The fact
that recent alliances have been made along
similar lines lends color to these uncon-
firmed reports
The general list was irregular in its mid
day movement. the supply of the Pacific
stocks appearing to be more than equal to
the demand There was no pressure to sell,
in the ordinary sense. but every attempt
to advance the price met such a supply OF
movement The semi-panic in the Berlin
market for home securities has been taken
advantage of by traders to offer the Pa
ciic shares down and to create the impress
sion of foreign liquidation.
The crop situation is not altogether prom
Using to this group and is factor in the
present neglect. Northern Pacific was weak
at times in spite of its increased dividend
prospects and it's splendid statement of
current earnings. For the fourth week in
May the increase was S197, 404, or total
gain of S412,507 for the month. From July
l the increase has been 81, COB, los. The de
rectors may be relied upon to sanction a
liberal disbursement to shareholders. even
though the increased payment may not be
officially designated as regular.
The calling in of another $W0.WO OF
government deposits from the national
banks. taken in connection with prepara-
lions for the usual Sem-annual diSburSe-
ments. was made much of by traders The
money market is quite able to take care Of
these demands without material change in
its relations toward borrowers, either as
to the volume of funds or the rate charged.
to cut down the amount of such deposits
prior to the second political convention and
the action revived political discussion.
The short interest in American Sugar
made the price look firm during the morn
ing, the dividend of IL per cent being vr-
tually recovered at one time. The demand
outside of the short interest was small
and failed to hold the price. The earn
ings of the company, now that rates have
been advanced are said to be almost
the same liberal scale which prevailed dur
ing the period of Il per cent dividends
This view is rather extreme, perhaps. but
the street iS convinced that policy and
politics combine in delaying one of the
most important announcements that the
Sugar management has been able to de-
wise In years. This evidence of the in
opportune situation discourages belief m
higher prices. Good news will not advance
prices, and the opposite movement must
prevail within the limits of traders
market. .