Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-26
Stock Market Prices Drifted
Aimlessly Today.
NO REASONS ASSIGNED
HESITANCY BELIEVED TO BE DUE
TO FOREIGN UNCERTAINTY.
Later in the Day Buying Orders From
Abroad Furnished the Chief
Support.


EpeCtnl Dispatch 10 me Stnr
NEW YORK. May 26.-Prices drifted
about in an amless fashion in todays
stock market and for protracted PERIODS
during the course of the business session
they remained entirely stationary. 1t was
by no means easy 10 assign any specific rea-
sons for such changes as occurred in par
ticular stocks. or for the Irregular tenden-
cies in the general market The foreign
markets also displayed uncertain tenden-
cies. although the death of Baron Roths-
child. announced this morning. seemed to
have small effect upon either the London
or the continental stock markets.
The hestatng tone apparent there
Seemed to be due chiefly to feelings of I'M
certainty as to the upshot of the forth
coming settlements on the London ana
Paris exchanges, and also because of UNI
easness as to the result of the great naval
engagement which would seem TO be near
at hand in the China sea.
With the course of the morning buying
orders for foreign account aggregating
about 2j.OC0 shares were executed in the
local market. and furnished the chief sup
port the market enjoyed during the fore
noon.
In other respects the trading seemed to
be almost exclusively for professional ac-
count. There was a very poor distribution
Of speculative interest apparent, nearly 80
per cent of the transactions w to midday
being furnished by the dealings in Union
Pacific, the United States Steel shares, On
tario and Western and St. Paul.
Scant Interest in Bank Statement.
Scant interest seemed to be taken in the
outlook for tomorrows bank statement.
According 60 the preliminary estimates. the
banks have overcome a loss of moro than
$4,000 incurred in their dealings with
the subtreasury by reason of currency re-
reipts from the interior. today's figures
showing net gain of balance of upward
OF 81, OO0. 900.
II is doubtful, however, whether tomor-
rows bank statement will make any such
showing, as 1t is likely that that the large
discrepancy In the cash item in last week
Statement Will have to be corrected in to-
morrow's figures.
1t was deemed probable, Furthermore.
that the loan account Will show further
expansion. The money market today con-
tlnued easy, however, in all departments.
There were further excited dealings in the
Chicago wheat pit, with sensational breaks
in the May wheat bnd corn options. and
with moderate weakness in the more dis
tant options. Todav's weather advices on
the whole were favorable.
The traffic statements submitted made
mixed showing. with the best reports fur
hiShed by the Southern Railway Company
and the Central Railroad of Georgia. Some
attention was attracted to the additional
troubles in the banking world, which. how
ever. seemed to be again caused by indlvld-
ual cases Of msmana cement instead of by
any widespread depression.
The Most Extensive Movements.
The most extensive movements in any
particular stock took place in New York,
Ontario and Western, and In Corn Products,
and were in opposite directions.
Ontario and Western was exceptionally
strong, the stock being bought a large
scale for foreign account. but further
gossip of novelty accompanied the move
ment.
The decided weakness of the corn
products shares was supposed to fore
shadow some unpleasant announcement
with regard TO the dividend on the prefer
red stock
The United States Steel stocks both show
ed declines extending to 1 point in the
early dealings, but recovered the greater
part of this loss in the course of the bust
ness session.
The local traction stocks were dull and
rather heavy. doubtless because of uneasl-
ness as to the tenor of the decision of the
Supreme Court at Washington in the fran
chise tax litigation, which, IL Is expected.
may be handed down on Monday