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Show SERIES OF ADVERSE MARKET CONDITIONS Tames A. Pollock Co., bankers and brokers, furnish the following, received over their private wire yesterday afternoon: after-noon: Pulne, Webber & Co., Boston The market today dragged tho same as yesterday. yes-terday. Scattered lots of stocks came out all through the hst and the buying power was notably small. Part of tho dullness was laid to politics, but tho largest part of tho inactivity is due to the season which makes tills a period of uncertainty. Tho copper metal mar-kot mar-kot Is dull and the bear raids in London Lon-don arc causing furthor hesitation among the copper consumers. Crops are in a critical stage and no bull market can be expected In railroads for some weeks. Many of the big operators aro taking vacations and tho market is being loft to itself. Tho short interest all through tho list is increasing and tho technical position of the market t3 getting better overy day. Logan & Bryan, Now York Some support sup-port was in cvldenco In Stoel today, but St. Paul, Union, tho coppers and a few other issues continued under pressure, pres-sure, with the result that the list was feverish and quite irregular throughout today's session. Marketwise, there was nothing particularly new, but discussion was centered on politics and money, those being the two features of prime Importanco at this timo. According to the known movements of money, the banks are thought to have gained cash moderately, mod-erately, and tomorrow's bank slatemcnt will doubtless reflect a considerable contraction con-traction in the loan account as a result of recent liquidation. However there are not as vet any strong indications of tho likelihood of a relaxation in money rates in the near future, particularly as the same conditions condi-tions which arc in evidence hero arc apparent ap-parent in London, Paris and Berlin, according ac-cording to foreign advices. A rather poor investment demand lw tho face of the heavy financing which has been conducted con-ducted since tho first of this year has tended to produce congestion, particularly among those Issues which do not afford af-ford an investmonl yield comparing favorably fa-vorably with that presented by recent offers, so that it looks very much as though our bond market would have to conform in a general way to the new standards of Investment. |