Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-06-19
No Apparent Pressure to Sell
in Today's Market.
LIQUIDATION IN BONDS
NOTHING IN OVER-SUNDAY DE-
VELoPMENTS TO INSPIRE.
London Sent Fractionally Higher Prices
for Americans Before Opening
Efforts to Advance.

NEW YORK, June 19.-Speculative OPP
eratious in today's stock market seemed TO
be governed largely by consideration Of the
fact that there was absolutely no apparent
pI assure to sell in any quarter. There was
some liquidation in the bond department.
which looked like profit taking, especially
In the Georgia Central incomes. which have
had an extensive rise.
There was nothing in the development
over Sunday to inspire commitments IN
either direction. but London sent over frac-
tionally higher prices for Americans De
fore the opening here, and the professional
element, now wholly in control OF the mar
ket's day-to-day movements, apparently
concluded that prices would respond TO Ell
forts to advance them
Principal Topics Discussed.
The street occupied its time today in the
intervals of watching prices as there SLOW
ly recorded on the tape in discussing again
the various aspects of the Equitable AFFAIR
and the Forthcoming report of Superintend-
ent Hendricks the possible effect of peace or
the contrary in the far east. the conSe-
quences Of the German kaisers interna-
tional Weddings, the crop outlook ana
among other things, the chances or the
money market.
Something too, might be said along this
Ire concerning the SlTeNRln VI the f1aIIi-
man Pacifics in London this morning. al
though these stocks were not similarly con-
spicuous on this side later. Pennsylvania
and allied shares were the obvious leaders
in todays trading. but the whole list SYM
pathized in satisfactory manner with the
strength that they expected.
No New Considerations
No new considerations were advanced on
any of these stocks. and there were no new
in, ha of
money. where further hardening tendency
perceptible in the rates for time loans.
a fact which tended to offset further gain
In foreign exchange
1t is a fact that foreign money has been
about the only free supply in the time loan
market lately. and competent opinions are
expressed that but for the accommodations
from abroad rates would have hardened
considerably before now. Six months
money is 80 per cent bid. with per cent
bid, for seven months loans.
Nothing has occurred in the last few days
to change the views of good judges of mon
etary conditions that no real tightness is to
be apprehended. but 1t would appear that
even If all the factors now alleged as posi-
tive deterrents on activity in the securities
market were out of the way there would
not be sufficiently large supply of credits
for what Wall street likes to call big
market.
Daily diagnoses of general conditions con-
tinue to disclose favorable signs. albeit
these may not exert any marked influence
at the present time. The day s routine rail-
road reports showed a good business and
the weekly statements of railroad traffic
managers were in general agreement as to
the prospects for big crops and increased
traffic.
The July interest and dividend dis
bursements may come close to If they
do not break the record in this direction,
and the underlying facts of such a move
ment as that in the Pennsylvania group to-
day are the prospects of dividend increases
during the year.
No Money Disturbance.
There was no sign of disturbance in the
easy money situa ton abroad. and senti-
ment on the other side IS said to be hope
full. Much the same thing may be said of
sentiment here. and, has been pointed
out. the tendency of security prices in this
market appears TO be strongly though slug
gishly upward. That manipulative efforts
should be directed now toward improve
ment may serve TO indicate that the pro-
fessional contingent has found 1T to be the
line pf leaS