Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-07-24
Some Extensive and General
Declines Today.
NO LOCAL EXPLANATION
Opening Firlnness Was Altogether
Superficial.
A GENERAL BREAK IN PRICES
Foreign Houses Sellers to the Extent
of Upward of 10000 Shares
Earnings Statements.


Special Dispatch to The Star.
NEW YORK. July 24-When II has been
said that the general state of affairs pre-
vaillng in the Russian empire was about
the sole influence In todays stock market
little remains to be added. The panic'zy
decline In Russian securities upon the Lon
don stock market and the European bourses
made further progress today, although the
London stock market was this morning
less influenced in consequence than was the
case yesterday. American stocks were also
rather exceptionally heavy In London, and
foreign houses were sellers In this market
during the morning of upward of 10000
shares Advices respecting the Russian
situation were. as might be expected, frag-
mentary. but a decidedly dsagreeable I'M
preston was created upon the announce
ment that another general strike In sup
port Of the dumas position had been or
dered to begin on Saturday.
There was very little in local conditions to
be cited in explanation of the extensive and
general decline In the stock market In
spite OF the strength of both wheat and
corn, today's advices relating to the
progress OF the crops satisfactory.
Sterling exchange continued very firm, but
money on call remained easy. and no con-
ditions were noted IN the rates for loans
for time periods.
Notwithstanding the course OF American
stocks In the London market and the SELL
Ing for foreign account, which made its ap
pearance Immediately. the local market
opened with show of strength. during
which number of active stocks. such as
ST. Paul. Reading and American Smelling
scored gains in excess OF one point.
Dividends and Earnings Statements.
The days routine news included a few
dividend announcements and statements of
earnings, but to these scant attention was
devoted II may be noted. however. that
Included In the earnings statements was the
highly satisfactory report of the Union Pa
cilc Company for the month of May, the
figures of which will be found in another
column.
Mainly because of the reversal in the
markets. course, little or nothing was heard
OF the various rumors which have been
current of late in connection with the spe-
ciaI strength In one stock or another. In
fact, there was little to be elected In con-
nection with the movements In particular
securities. In common with the remainder
of the market. Brooklyn Rapid Transit ad-
yanced at the outset OF the trading but
almost Immediately broke very badly on re-
ports that the state railroad commission
was about to order a reduction In the fares
on the companys lines In all parts OF
Brooklyn borough TO 8 cents. These re-
ports appeared to be. TO say the least
premature. Otherwise nothing beyond tech
meal trading conditions could be named as
accounting directly for the course of the
general market or individual securities. In
purely speculative circles the decline was
variously regarded being nothing more
than normal reaction from the recent
protracted rise in prices and on the other
hand the movement was described as mark
ing the resumption of the decline which
was broken In upon by the rally which set
In ten days ago.