The times. [volume] (Washington [D.C.]) 1897-1901, 1900-06-29
THE MARKET IRREGULAR
The Tendency Considered the Re-
sui; of Technical Conditions.
Chinese SitGntion. Politics. and AI-ri-
cultural Outlook Influence the
Days Transactione-An Ua1ert0ne
of Firmre<s in Spite of De-
clincs - Rise in Silver Bullion.

NEW YORK, June 2S.-Speeulation in
the same subjects that have occupied at
tention for some time-nameiy the Chinese
situation, the agricultural outlook, and, TO
g distinctly lesser extent, national politics.
As regards the first il can only be said
that toGays Rdrices were so absolutely con-
ficting that they did not furnish firm
grounds for definite conclusions.
At the same time they were apparently
interpreted favorably in London, where the
market was generally strong, and through
this circumstance the Chinese situation
might, broadly speaking, be placed upon
the constructive side OF todays market In
the agricultural outlook there was little
actual change in tcdays news in regard to
the chances for the spring wheat crop. A,
the same time there was a particularly
sharp decline in wheat, and Wall Street
elected 10 play upon this circumstance also
rather than upon the actual news from the
Irousht-stricken sections. the same atti-
rude being assumed in this respect as in
tie instance of the Chinese question.
The influence of the national political
situation was even more connlctng IMAM
the other TWO factors cited. The market
as whole was very irregular one. 1t
may be added, Furthermore, that beyond
much doubt the actual results of the da, S
transactions were the result rather of GER
tain technical features of recent dealings
in the market.
Today's dealings were as irregular in re-
epect Of activity as in regard to price
changes scored. What may be called the
underlying tendency of the trading had
distinctly frmer tone. The occasional
rand advances which occurred in the
granger shares and come OF the other stan
dard and even speculative Issues, could
be accepted as rejecting little else than
O dwindiing supply of stocks speculatively
held together with an over extended and
appreheDsire short interest.
On the other hand. the still marrow lin
its of the market were disclosed IN the
dulfpess and recesxions which followed the
more rapid advances. What was the plain
est technical feature of the market was
that the speculation is no longer so enc
sided as it was during the past six weeks
or so.
There was not much actual news bearing
upon particular stocks. Effective buying
of the steel industrials and of other stocks
bearing upon the iron and its related
trades was again noted and was apparently
based upon the considerations previously
set forth in THE column to the effect that
the reaction in those trades is culninat-
ing. An important item Of news in this
regard was that of this morning. setting
forth the virtual collapse of the prctracted
and disastrous strike in the building trades
al. Chicago
The anthracite coal shares were par
ticularly strong features of the market
largely in sympathy with the Reading is
sues, which were particularly active on
the expectations of increased dividends in
the instance of Reading first preferred.
Brooklyn Rapid Transit furnished the
bulk Of the dealings in the local traction
group and the wide fluctuations in that
stock were clearly attributable to the I'M
certainty as to the upshot of the new
proceedings which IL is expected will be
instituted against the company's Coney
Island tariff on the suggestions made by
Q supreme court Justice in recent de-
cision.
feature of the day, which, however,
attracted little local action, was the fur
Their rise in silver bullion, which, in a
general way. was referred to the situation
and the possible developments in China.