Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-08-17
Stocks Relapse Into Dizziness in Spite
of Good News.
DISPOSITION TO HOLD AL0OF
Bank Statement Tomorrow Ex-
pected to Show Loss in Cash.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK. August 1.-THE stock mar
ket relapsed into pronounced dullness again
today and the cheering rumors OF the re-
lief OF Pekin failed TO make any impression
on prices. Several stocks were sold by the
pools recently active in advancing them.
but only fractional deliveries followed The
market was too narrow to admit Of a pro-
nounced movement In either direction
Local operators sold some stocks in the
London market and prices at that center
were positively weak for a time.
The closing abroad. however was at the
best level Of the day.
A discouraging factor In the situation
was the reported apathy OF the public IN
politics. The published reports uf meaeer
subscriptions and tendency to beIittIc The
prospects for surprises had a marked in
fuence on sentiment. Conservative houses
again advised caution. and many OF the
most influential interests were quoted a.
being opposed to a continued advance Al
this time. In some quarters the belief wds
expressed that the leaders Of the recent
advance had been advised 'by-ti.air bankers
Of the dangers sure to accrue from false
start.
Politics are now well into the market as
factor and scare periods are as certain
as future events can he. The hanks show
the return to conservative methods 10y h.H:-
ing at advances in the money rate. Such
advances are not likely to be the result OF
any scarcity in the supply. but rather to "A
desire on the part of the banks 10 keep
srecaiatioH within proper hounds. A. an
evidence OF The supply Of money. western
centers are Offering to lend money in the
east at current rates for time loans.
This is especially encouraging, in as much
as II SHOWS Inc West 10 he an position to
handle its own crops and 10 have a comfort
able,surplus to lend.
Tomorrow's bank statement Is awaited
with extraordinary intereS; because Of the
likelihood Of considerable loss in cash. due
to the gold shipments. 1t is expected thar
almost the entire loss viii he reflected in
the decrease i'll cash holdings Traders
fearing such showing and its possible in
huence on the money rate were liberal
sellers.
The failure to inspire new business on the
Chlnese rews was a disappointment TO the
room, and the missing of such an opportu-
nifty for manipulation was construed TO
mean a change in speculative sentiment
winch would insure lower prices. Accord
inGly, the Atchison issues ST Paul IN.
Pacific shares, and, in fact. all of the active
issues, were sold either to take profits or
for the short account
Great stress was put upon the BROOKLYN
Rapid Transit report to be given out after
the close of business.
The buying of the stock was better than
that noticed elsewhere, and the belief pre-
valls that some development other than
last years earnings is prompting insid,
buying. The Industrial hist generally was
dull and erratic. There was no real demand
for any of the issues in Thar departrnent
The coal stocks seem Ia be the objects of a
movement not depending n me gossip of
the irresponsibles for is raa q: auce The
closing was duh at irr. guar changes for
the day.