Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-08-03
More Animation Shown Today in
Stock Speculation.
GOOD BANK STATEMENT EXPECTED
Caution Promises to Characterize
Immediate Future Dealings,
GENERAL MARKET REPORTS


special Dispatch 10 The Evening star.
NEW YORK. August 3.-Prices were ad-
vanced in nearly all parts Of the railroad
list this morning. the result of marked
Improvement In the character of the de-
| mand. London did little. presumably be-
cause of the holidays at that center tomor-
row and Monday. Present indications favor
a good bank statement tomorrow. the gain
| in cash being estimated at $4.J00.00O. The
prospect of Strengthening the reserve en-
couraged more optimistic feeling as to the
immediate future of the market.
The demand for Union Pacific was contin-
ued and the willingness Of the stock to re-
spond to the buying inspired confidence in
other issues. The stock named was given
excellent support around GO. and the unload
ing OF long stock, heretofore said to be GER
tain at that price. did not assume menacing
proportions. Baltimore and Ohio Jagged
notlceably, and no enthusiasm followed its
dividend action. neither among the short in
terest which refused to cover, nor among
investors seeking an income
The latter were willing to risk results in
Union Pacific. considering the 10 per cent
discrepancy in price and the equal divi-
dend rate.
The Atchison pool showed some signs of
| new life. both the common and preferred
| stock being advanced Under a steady de-
mand. These issues have not been ex-
plotted to the exhaustion point and any in
crease In the favorable conditions applicable
TO the general market would. in all likeli-
| hood. he utilized In pressing the Atchison
| shares well to the front
Today's market was duh In spite of ifs
strength and stagnation followed every ad-
vance. The strength is becoming discour-
aging to certain investors who have allow
! ed funds to remain idle since the first of
| july in the hone of ba Tn
some quarters 1t is predicted that a few
days of strength would result in taking the
present limits off orders and purchases be
made at the market.
The coming week. however will be re-
garded as an opening to the presidential
campaign, and the usual agitation Is ex-
pected to follow. The present month will
be one of caution in consequence of the
public interest in politics. and because of
the lons-heralded Idea that the banks will
insist on caution until the main current Of
politics Is clearly defined.
1t Is well to remember that the agsregat e
or loans in the national banks and trust
companies Is still unusually large and that
any disturbance of loans will find prompt
reflection In stock prices. While conserva-
tive interests have refrained from active
participation in the stock market during
the summer because they were not willing
| to make new loans. the interests already
| committed have done little toward liuui-
dating obligations.
The banks are in splendid condition and
need have no fear of ordinary commercial
demands If speculation is confined within
narrow limits the greater the safety to the
general community. As an evidence of the
local financial strength the $1,000 900 in
exchequer bonds issued by the Bank of
england, bearing per cent interest and
running three years, could all have been
sold to local banking house at the sub
scription price.
Monetary conditions have changed during
the last few years. and the ordinary events
Oh PRESIDENTIAL year are likely to have
little influence. An accident will be neces
sary to overthrow the stability of Ameri-
can values, excepting always the Industrial
properties.