Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-05-25
Stocks Relapse Into Dizziness, With
Tendency to Liquidation.
SELLING DURING CLOSING HOUR
Public Holds AIoof and Trading is
Professional.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. May 25.-Today's stock
market was generally strong in tone the
result of the conservative manner in which
yesterdays liquidation was taken. The
good news which failed to inspire an ad-
vance early in the week was deprived of
its expected influence by the quiet selling
which preceded yesterdays failure. Now
that the extent of the difficulty is known
the market has relapsed into its previous
conditions of Indifferent strength.
There Is leadership in the market and
virtually no public. Room traders change
from one account to another and find
cess equally limited in each. Buying fosters
sales on all rallies and selling is met with
buying on the declines. This narrow con-
dition owes its existence to conditions inside
of Wall street and not to any radical de-
feet in the business outlook.
Politics is urged in some quarters an
explanation of the decline, but there is less
discussion of this subject than was to have
been expected at this time. There is the
assurance of dull season during the cam
paign, even though no radical setback in
prices may follow.
In view of the dullness ahead. there is
quiet liquidation wherever opportunity Of
fers. and every week reflects a greater
preparation for a prOtracted summer hDli-
day season.
The movement in American sugar
halted today, but the price held well around
yesterdays final figures. Whatever may
have happened to improve the outlook for
this property it is at least certain that the
manipula tive interest has the market move
ment well in hand. The idea of a working
agreement carrying all the larger compa-
MES through the active summer season Is
generally accepted, although lacking def
mite announcement.
The traction stocks were irregular with
the exception of Brooklyn Rapid Transit.
in which some interest conferred because of
a proposed increase in fare of its
suburban lines. This increase relied
upon to work to the material advantage Of
the road. Traffic not threatened by
the advance, 1t was said. and the operating
expenses being the same, would admit Of
the roads doubling its receipts. This ar
gument would appear to be defective. mas
much as too great a portion of 1t is taken
for granted and not fully demonstrated.
The declaration of the usual l per cent
dividend on Consolidated Gas and the fail
ure to advance the price of gas was reflect
ed by some inconsequential trading in the
gas shares.
During the final hour an effort to sell
some Of the Pacific stocks and Atchson
preferred was followed by lower prices.
The movement was attributed to mixed
selling for the short account and the tired
holdings of commission house clients. The
decline brought in some good buying from
a variety of sources.
Tomorrow's bank statement is expected
to show very large gain in cash owing to
heavy receipts from interior points. The
banks have also gained something through
operations at the subtreasury, but the net
amount has been reduced to the extent of
the gold shipments. The gain in cash Is
encouraging. but coming at a time when
money is already easy may not inspire
much life in the stock market.