Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-08-31
Stocks Were Weak and the Tendency
Toward Dizziness.
BREAK IN AMERICAN SUGAR
Brooklyn Rapid Transit Sagged
Without Special Reason.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK, August 3i.-Aside from
steadiness of tone the securities markets in
London mis- morning presented but slight
changes in features. American railway
shares in that market made an Indifferent
showing, while continental securities held
very well.
In the local stock market the room-traders
started off bearish and there appeared to
be very little support from the bull cliques
Peoples Gas. Sugar and Brooklyn Rapid
Transit suffered the most in the early SELL
ing movement-the former losing IN per
cent. the weakness being attributed to
a report that a new company Is to be
formed In Chicago to cut the price Of gas
to 60 cents-the announcement Of which, II
was stated, would be made public tomor-
row.
There was nothing new in Brooklyn Rap
Id transit to cause the weakness in that
stock except the fact that the general mar
ket wore a tired look and that reacted in
sympathy. good deal was heard both
yesterday and today about the Sugar Com
panys corner raw" sugars and that
there would be a further advance I'm the
refined article. but the good selling yestec-
day on the slight rally that the stock en-
joyed and the suspicious break II had on
Monday. together with rumors OF the clos
ing down of some of it's refineries led a
good many bulls of yesterday to turn bears
on the speciality today.
After the first hours business the market
became dull and with very few signs OF
railying. Up to Ills there had been no
loans reported, but money was quoted at
Ia and ~.
The steel and iron stocks did not show
the buoyancy exhibited by them in the
early trading of yesterday, their tendency
oelng TO follow the rest of the list. This
was also true of the granger stocks.
Sugar had another weak spell lust be-
Tore the noon hour the stock being pressed
Tor sale with only little support discerni-
Bile from the bull pool, the price of the
stock showing a decline of 81 per cent from
opening figures, and a decline of 3-S per
cent below the low figure Of last Mon
day.
A little rally was started toward the de-
livery hour, but the advances scored were
only fractional, and the movement did not
last long, the market becoming dull and
with an inclination to sag
Traders still monopolize the business done
on the exchange, the outside public still
seeming content to await decided move
ment in either direction before making VEN
lures in the market, and possibly 1t is Just
as we'll for them that they can take this
view OF the situation, as there are at pres
emit too many international, political and
financial uncertainties beclouding the spec
ulative horizon to make anything like
sure prediction as to whether the next big
movement In the market will be up or
down.
Considering the mixed Chinese situation,
the doubts in some minds to the out como
OF the Vermont elections to be held next
Tuesday, and the fact that Mr.. Bryan be-
gins tomorrow campaign that Will take in
nearly all the northern states before II Is
completed. the short side OF the market
would seem to be the most profitable In
view OF all these circumstances.
The bank statement tomorrow 10 ex-
pected to show gain In ash to the local
banks OF about $4,000, 0OO-s2 600 600 of this
amount Is expected to come from the re-
demption of s2,000.000 Of old United States
= per cent bonds. which were not reflected
In the cash item OF last week.