Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-07-13
FINANCE AND TRADE
Stocks Were Weak and Tendency
Was Toward Dizziness.
LONDON QUOTED LOWER PRICES
Politics Expected to Exert an In
fluence Before Long.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star.
NEW YORK. July 1a.-The preparations
for confirming the worst fears as To the
situation in China Were a s.urbing in
fluence in the foreign markets this morning
London sent over "a lower range of prices
for all American issues and the closing at
that center was decidedly heavy.
An effort was made to stay "A decline in
the local market. after a weak opening, and
prices We're forced up few fractions with
out attracting any real business. Dizziness
probably contributed as much to the mar
kets strength as did the buying by friendly
interests
The group Of stocks with dividend pc
RODS and dividend gossip for a background
were strong for time. but the buying was
manipulative TO A considerable degree
Baltimore and Ohio common was sup
ported. and round ~ Union Pacific was
bought by brokers heretofore Identified
with the movement. An effort to create
the impression that this buying was for the
accounts OF last springs pool in these and
the Steel issues failed Of results inasmuch
as commission houses had no business To
contribute 10 the movement
a large short interest in Northern Pa
cine gave momentary evidence of a willing
ness to cover. which would have been
forced had ii been well started hut the
heaviness of prices elsewhere delayed the
movement.
The granger shares were lower under
mixed selling and Atchison preferred was
in good supply at lower prices. Opinion diff
terS as to the POOLS position on the latter
stock. recent selling being credited to that
interest In certain circles. The trading
element is again arrayed in opposition TO
Improvement, basing their arguments on
British reverses in Africa and the posi-
bllities of the Chinese murders.
Again politics are in the background. but
this subject may come forward iuuppor-
timely in conjunction with the foreign
complications. The market holds stub
bornly all things considered, but there are
The good fortunes of few roads may in
cite activity Of a sentimental character IN
Others, but sustained advance Is unlikely.
The industrial list is either neglected or I'm
process Of quiet liquidation. The times are
rot ripe for a renewal of activity in the
latter group however anxious certain in
tcreSt Is may be 10 force the Steel stocks into
apparent favor.
The ease Of the money market IS an en-
cOuraging factor and will tend to hold the
market against drives and professional
raids
There is a more cheerful feeling over the
prospects for wheat crop quite equal
sustaining dividends on transportation lines
relying upon grain traffic for profits. Good
prices will insure the sending of the full
crop to market and the railroads will get
chance at whole and not a partial yield.
There Is fair prospect for disappointment
in the dividends to be acted upon next
month. August is relied upon to he a duh
month, with possible sagging prices and
the present tendency toward conservatism
is more likely to increase than not. The
public is not in the market, and surface in
dications are that il is much more interest
ed elsewhere for the time being.