Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-06-28
Dullness Characterized the Situation
in Stocks Today.
MARKET WAS WHOLLY PROFESSIONAL
There Was Some Buying of the
Granger Shares.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, Jure 2S-Today's stock
market was duh and almost wholly profess
s!onal London sent over an irregular
range of prices and foreign houses traded
on both sides of the market. The cover
ing OF short contracts after weak opening
resulted in a strong urdertone for a few
or the more active Issues although there
were no indications that the new demand
would equal the proportions necessary to a
sustained advance. Some buying in an
tcipation of demand after the first of the
month was noted, the rcinvestment of divi-
deEds and interest being likely to assume a
considerable volume.
Local rates for call loans were down TO
Ia per cent, and foreign exchange rates
receded fractionally from the previous level
Ihis would indicate that good investments
Will md a ready market in spite of DO
Etical uncertainties Holders of stocks and
"ouid-be buyers do not contemplate any
hurried advance and will buy only as prices
increase in attractivencss. There is no
prospect of a general demand until the fan
electlons are being discounted
Al what point in the campaign the out
lcok will be sufficiently clear to admit OF n
CONFIDENT buying of stocks no one can saw
but all admit that the market will NOT auait
the actual result.
1t is significant that in numbers the pres
ent waiting contingent is larger than ever
before There Is much that is confusing in
the immediate market inasmuch as the no.
S.tlon or the trunk lines in relation to the
INES into which they have bought prom
lhent places Is an unknown factor.
The known facts in relation to this mat
ter were applicable only to the eastern
lines Much interesting gossip as to an ex-
tension OF the plan through to the Pacific
coast was dropped because of the recent
selling on the crop scare. If the trans
continental project was ever seriously con-
sidered the crop condition has not resulted
In anything more than temporary lapse
IN the original plan. There are many good
Judges who re,y upon revival of CONSOLE
dation schemes once the political sky clears
sufficiently to admit of new undertaking
The coal deal is another desirable transact
ton which Must await a more favorable
season. but recent buying would indicate
confidence in ultimate results Cheap
money and the belief in important changes
in ownership tend to mcke the presidential
year something of novelty, ard followers
OF the old signs are less certain of success
in consequence
The Granger shares were advanced today
on assurances that they were in position
to Withstand the natural result of a de-
creased wheat tonnage. Roads outside of
the spring wheat belt are not likely to be
hurt ard a good years business is promised.
baltimore and Ohio. Atchison and the Pa
c1f1c shares held well after early Weakness
especaiIy IN the former-and there We're
signs OF the recent pressure to sell The
bull pool in Sugar forced recovery in the
price OF that stock, and few traders sought
to create new interest in the steel stocks by
advancing the cheaper issues.
Dizziness dominated all other forces during
the closing hour, and the lack of interest
helps to make traders selling the more ef-
fective.