Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-03-14
Passage of Currency Bill Had Little
Effect on Stocks.
The OPENING WAS DULL
Some Buying of STANDARD Railway
Shares for Investment
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, March 1.-THE passage OF
the currency bill failed to find reflection in
todays stock market, even though there
Is no dissenting voics as to the ultimate
value OF many of its provisions
In the London market there was a marked
inability to predict the effects Of the new
legislation and local bankers offered such
conflicting arguments as to further con-
fuse this foreign attitude. Prices failed to
improve in consequence and the public de-
mand again dwindled to insignificant pro-
portions.
Early in the day. and after the heayiness
of the opening hour. there was a good buy
ing demand for the granger shares. Bur
nngton, Rock Island and st. Paul being
taken by investment purchasers. New
York Central was given some attention for
a while, but the hesitancy of the general
market resplted in a withdrawal Of the
demand, Realizing in Atchison issues,
Union Pacific and other medium-priced
properties was in evidence at various times
during the day.
The preliminary report Of the receiver of
the Ihird Avenue property puts the in
debtedness at S25,0O0.0O0, including the 3d.
100000 outstanding mortgage. The real es-
tate Is wholly covered by the mortgage and
subsidiary lines are not included in the
debt The announcement was another OF
cial interest
The covering of some outstanding short
contracts followed the publication of the
report but no new interest was attracted
to the property. The traction situation
promises to become a feature of the local
stock market, the franchise report hanging
over that group. There is a growing be-
hef mat the report will fall quite as fat
IN at least one instance as have similar
developments in other properties
The metropolitan manipulation is locke
upon as downward preliminary to an
active campaign in the opposite direction.
The course Of prices for purely local con.
mine because of the almost wholly local
character Of the stock market
or fortnight past the Developments
throughout the country, such as good earn
lngs, better dividends and the like. have
tailed to exert their customary Influence
on the security markets The public have
tlmldly appeared upon the threshold. but
local attitude.
The banks did not encourage new borrow
ing. brokers in turn discouraged new buy
ing, and better prices were hoped for only
and not made. London would have fol-
lowed the leadership of local houses hut
inns Willingness was not encouraged, The
conclusion is therefor that the wounds of
the December panic are not fully healed
ana that confidence and credit are both i'm
paired The one factor of announcement
is that no material liquidation is reported
Inc market simply awaits the time when
the ordinary forces will again determine
prices Money rates are firm and must con-
tlnue 50 until next month. unless the treas
ury offers some relief. Meanwhile bankers
are blue penciling Industrial coIIaterals
and the railroad list Is arrayed against the
ihoustrals In seeking popular Endorsement