Evening star., 1900-08-10
Little or Nothing Doing in Stocks
Again Today.
BANKERS SUSTAINING PRICES
Traders Not Able to Organize a
Bear Raid.
GENERAL MARKET REPORTS
Special Disps tch to The Evening Star.

Special Dispa ch to The Evening Star.
NEW YORK. August 1o-A moderate
buying demand from Europe especially for
Atchison. served to hold prices above the
local closing parity, but was not equal to
dissipatfng the midsummer apathy The
volume Of business has dwindied to the pro-
portions of an average hour, and the daily
sales reach smaller totals than at any time
IN three years. Commission houses have no
business and are at a loss when asked 10
give advice as to the probable course OF the
market. ~
Ihe condition is novel because of the
pronounced strength in certain issues In
spite Of the stagnation- There is no pres
sure anywhere and almost no demand
Ihese conditions. in the natural process of
evolution would end in a day OF no trading
At present there is little evidence of any
desire to prevent such a result
one theory advanced in explanation of
the present condition is that the banking
interests. being heavily long OF stocks. are
supporting prices wherever support is need
ed and are discouraging sales
ihe pubhc being interested In other
Things and the larger operators being away
on vacation tours. ii is only necessary to-
guard against the scheming Of the room to
force declines. Those supporting this view
and Mr. keene is conspicuously among the
number. believe that liquidation on a large
scale is sure to come later in the year
The argument of this following is that
lower prices must follow increased activity.
II prices can be held up until after The
elections, the closing days of the year will
be gwen over to a general conversion OF str=
curities Into money.
There is no provision made for the en-
ployment Of this money. and II is lust
there that the argument begins to weaken
Many reasonably sure dividend paying se-
curitfes are selling around level attract
i've to investors, no matter what estimate
the professional trader may put on them
IL profits are accepted on such issues the
money realized cannot be re-employed to
the same advantage
The real cause for concern is found in the
fact that banks are carrying an extensive
line of loans and that any disturbance in
the money market would force out thou
sands of shares of stock The prolonged
dullness has increased the burdens of the
borrower. since his interest has Increased
while his chances for a profitable unloading
have decreased.
Loans of this character are mostly on
mixed collateral, and the inferior portions
are made up Of industrial shares II last
years industrial folly did not remain as a
legacy to future markets the railroad list
would be more certain OF improvement than
anything speculative has ever been. Mixed
collaterals have mixed an otherwise sound
situation.
AT least 100000 in gold will be sent to
Europe tomorrow on account OF the bond
SUBSCRIPTIONS and the weekly bank state
ment may show the loss in specie
NO attention is paid to such items how
ever, but 1t seems certain that money mar
ket conditions must undergo q radical
change In the near future. A successful
attempt to advance Sugar was one of the
features of the days market. an advance
OF per cent following some good buyine /.
A widely circulated rumor that President
Rossiter would resign from Brooklyn Rapid
Transit resulted in a bidding up ~ the
price of that stock A slightly better a.
mand for the Pacific stocks was also noted
toward the close of the day