Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-07-25
Stocks Decline and General HeayineSs
Prevails.
EFFECT OF CHINESE SITUATION
Bankers Expect Higher Rate for
Money Shortly.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, July 25.-The opening Of
todays stock market was generally at de-
clines from the heavy closing parity OF
yesterday. London's cables reflected de-
clines averaging about y of per cent. and
some selling was done for that account.
Bankers expect a higher money market In
London and on the continent as the result
of war loans. which now seem assured.
Should London and Berlin Join with Paris
in attracting American gold the first fruits.
of the Chinese outbreak would be the re-
verse of profitable to this country In con-
sequence of this view the stocks which were
advanced few days ago because OF the
prospects for an increasing trade with the
orient were depressed by the growing indif-
ference of traders and considerable profit
taking.
The increased dividend now thought to
be assured on Union Pacific failed to pro-
vent a decline in price, and the Atchisou
pool failed to add to the prices Of either
common or preferred. The Changers were
neglected and suffered more on that &C
count than from any other. ST. Paurs
earnings. showing a decrease of S69. $50 for
the third week in July. helped to deter buy
ing in this group. but the decrease was not
unexpected.
The railroad list as a whole was heavy
and would have declined substantially hal
the pressure to sell been greater The lack
of important liquidation is after all the best
feature of the present market There is no
public interest, and the professional ele-
ment are becoming skeptical Of their ability
to carry the advance further without in
creasing the sales of long stock
The borrowing of money on time by COM
mission houses, while indicating prepara-
tions for a market movement, also suggests
fears of an advance in call money before
or during the time Of the new undertaking.
Prices having been forced up for the last
three weeks in the face of conditions not
wholly reassuring to conservative interests
are beginning to show the effects Of the
effort
The advance in American Tobacco which
was one of the features of the market yes
terday. was resumed this morning but
with less enthusiasm. Considerable stock
came out at the higher level and the opin-
ion that the inside interests were forcing
the advancing lost ground.
In American Sugar the price movement
was not significant, the stock merely re-
necting the conditions which were applica-
Die TO the general market. Representatives
OF the steel companies are to hold an i'm
portant meeting in Chicago to arrange an
acceptable price schedule. Should the
meeting result in the success of the project
the various steel shares would probably he
pushed to the front in the trading While
the public refrains from buying the dIvI-
dend-paytng railway shares IL is not likely
that the industrials will offer superior In
ducements to activity.
The halt in the market today is generally
and less confusing news from China The
certain outcome Of the confirmation Of the
worst fears as to conditions in that conn
Try can scarcely be construed into faynr-
able Factors outside of the manipulatiys
Clique now bolstering up prices.