Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-06-15
FINANCE AND TRADE
Prices Held Steady on New York
Stock Exchange.
BUT LITTLE PRESSURE TO SELL
Dizziness Seems to Be the Prospect
in uture.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, June 15-Prices held steady
for time this morning. but tho volume of
business was not improved. London sent
over range of prices about equal to tho
local closing parity. but there was no indi-
cation of new business at that center
The meeting of Northern Pacific directors
was awaited with considerable interest but
houses supposed to be In the confidence of
the management were inclined to the opin-
ION That the rate would be per cent and
per cent extra. the same as last year
Inc stock was sold on this prospect and
the railroad list generally was brought into
sympathetic decline of small proportions,
me important fact Is that there is no sig
mhcant liquidation, and until selling by
commission houses increases In volume
tnere Is small chance for a substantial de-
ciine from the present level. The lack of
demand Will operate against higher prices.
bat io"er prices must have the positive
neip OF plentiful supply of stocks. The
guinness is natural and the question of first
Importance is. How long will the alraaov
ei T hoiders OF stock refrain from selling?
me Atchison dividend episode has been
criticlsed IN way to inspire caution in
other directions in which a desire To pleasa
,ne shareholders is intelligently exercised.
IN the case of Atchison there are undnubt
edly many conservative holders who wouIa
nave preferred to have increased ,,iyidends
ana new bond issues more widely separate
ed. Inc mere criticism of the Increase
would pc passed over on the ground of
ultra conservatism were 1t not for the fact
mat IN practically every reference TO the
subject objection is made because the ze.
nun ,, OF railroad prosperity has been passed.
Inc desire to prepare for years of smaller
results and to safeguard against increases
IN floating debt because of il-considered
i,berality now will make for unusual can,
ton from now on.
me industrial list is dull and almost
"noly neglected now that the political
conventoHs are APPROACHING with their
seissaal0 condemnation of trusts and tho
Lo>ern idea of capitalization American
sugar Is getting support from the short
| interests now that rates are back to the
point from which they started to decline
curing the trade war. This fact very nat
t urai!! causes some hesitancy to sell, since
the restoration of the old rates means the
earning of the old dividends.
Not that there is any chance of an in.
creased dividend on the eve of a presiden.
tlal election. but If the money is being
earned there is confidence that some future
disposition of 1t will increase the price Of
the stock very suddenly
\ million dollars in gold Intended fnr
Shipment tomorrow has been withdrawn
me bank statement may show Thursdays
loss but the street Is disposed to disregard
sucn EXHIBITS. Bankers are less sangtline
OF their ability to offer present rates for
money after the first of next month but
no harmful advance seems likely.
On all sides the impression prevails that
some big undertaking, such as the anthra.
cite coal deal, will be necessary to prevent
a further yielding in prices under cover oe
excessive dullness.