Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-07-19
The Complications in China Affected
Stocks Adversely.
SUGAR ALONE SHOWED STRENGTH
NoProspect Of a Hardening in Rates
for Money.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, July 19.-Mistrust Of Rus
sia's independent attitude in China found
reflection in lower range OF prices In all
the European markets and forced q hest
tatfng tone into the local trading. An ad-
vance IN the Bank Of Engiands minimum
rate OF discount to per cent was an ex-
pected development in the foreign money
market, American gold is now threatened
by London as well as Paris but the sterling
rate dropped on fractionaily in conse-
quence Of offerings against today's ship
msnts. There are indications OF higher
money rates In the near future, however.
and brokers are disposed to look well ahead
in making loans.
The quoted rates today show no signs Of
hardening call money offering freely at
II to per cent
The stock market took little notice OF
these facts. dullness being substituted for
a pronounced reaction Union Pacific was
opened down to 5ess. but tlSe pool forced
the price up to 81 and gave # excellent sup
port during a greater part OF the day.
Atchison preferred was supported around
" and some attempt was made to resist a
moderate pressure in Baltimore and Ohio
Inc common stock OF the latter company
mas been sold literally of late and con-
stant manipulation is necessary to prevent
break. The grangers were dull and mod
eraIely steady in spite of the outlook for
disappointing earnings for tba cnr-a -.
period.
The buying Of Sugar was called good hu.
the movement failed to gain much head
way owing to the general lack of sympathy
with higher prices. The company's ee rn
inss are good, and II is practically cerraIn
the old dividend rate could be restored Ala
nor policy dictate otherwise. The end of
tne present year will probably mark the
official termination of the sugar rrs%. MI, .,e
After that extra dividends are a proba bIIitr
An effort to advance the coal STOCKS has
come TO be feature Of every period Of
etrengtn IN the general market Ontario
ana western was advanced Yesterday ana
wen sustained today under the infuence NJ
Iumors predicting an early dissolution OF
d,,,S LING trust and probable payment Of
uFiuenus- In q broader market there ca,,
be no doubt that the coal groun wo,,ld ha
forced to the front 10
me present movement is premature in
asmucn as the times are not Favorable RI
such undertakings ~
Inc general market was working around
70 disregard of politics. when the Chit
nese situation arose as complicatinp Fac
tor. The two questions now haIno liiIe, -.
assume close relationship in this conn
Try the present hesitancy of the stock
marker IS entirely natural. The interests
now working to advance prices predIct an
Increased business for American transnor.
tation lines as the result of the Chinese
eutoreaK, but no attention is paid 10 the
The complications suggested by small
var cause alarm, and in the present in
stance the fear of complications among
european powers is used TO offset the
commerce. -e''ii
reviewers In the latter development are
active IN advancing prices. and therefore
market The conservative element refuses
10 Duy stocks and helps the situation only
TO the extent that ii does not sell
optlmlsm Is general. but dates for reap-
panic and but little mistrust of values
Ihere are enough unusual forces al work
however; TO suggest the probability of a
the one now reflected ~