Evening star., 1900-06-09
FINANCE AND TRADE
Attack on the Granger Shares Re-
sumed This Morning.
some DEMAND FOR COAL STOCKS
'ndustriaIs Pretty Generally Me-
elected by the Traders.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, June 9.-Yesterday's attack
upon the granger shares. based upon un-
favorable crop reports was resumed this
morning. prices declining easily under lib
eral offerings London prices all showed
declines, Baltimore and Ohio being offered
full point under the local parity. This
depression was credited to American oper-
ators now in London and was accepted as
an indication of new campaign in the
short account. Chicago houses have sold
1iberally during the last few days on the
crop outlook and out-of-town business gen.
orally has had a tendency toward a light
ening of accounts
The narrow market has not been equal 20
absorbing all such offerings and lower
prices prevail at the end of the week This
condition bears out the theory that lower
prices must follow dulness at this season
On all sides expressions of dull and
Improbable summer are to be heard. and it
Is reasonably certain that nothing more
than stock accumulation will. take place
during that season. How far the market
can resist further dullncss is the unknown
factor. but it is coming to be believed
that mixed selling Will follow every rally.
ThlS view has prevailed for a considerable
time. and thus far has been correct. since
rallies have been of the most temporary
character.
1ue one exception TO the weakness mas
been the coal group and much comment IS
heard on the prospects for strong COM
binatton of the eastern coal lines. The
rumors relative to this transaction come
from usually well-informed quarters and
would inspire a considerable demand in an
ordinary market. Just at this time the
demand is lacking for a variety of reasons,
but those interested with the deal have an
easy task, so far stock accumulation Is
concerned. The desire to control the stock
is not hampered by pools of a speculative
character trying to make a market turn.
There can be little doubt that the buying
Of one stock. Reading first preferred, Is
intended to control the road. The outlook
for ultimately higher prices is consequently
called good in this group.
The industrial shares are. in a sense,
neglected. This fact is negatively encour-
aging to underwriting syndicates. since ac-
uvity at this time could scarcely be de-
pended upon to improve prices. The i'm
proved position of American Sugar may
serve to hold the Industrial list moderately
firm. since the present short account in this
stock Is quite equal to forcing a sharp
rally, which would bring q sympa thetic
movement elsewhere.
The bank statement shows loss of s3O1,-
300 In lawful money. all in specie The
loans have increased 81, ,4S3, 900 as the result
OF transactions not wholly identified with
the stock market. gain of s., 1870 800 in
deposits calls for a larger reserve and the
surplus fund is reduced s1,749,O25 The
transactions with the interior and at the
during the week and account for the loss
in cash.
Snort accounts were covered during the
closing hour and the modest rally during
that period was due to buying of that char
acter and not to any change in sentiment.