Evening star., 1893-11-02
FINANCE AND TRADE.
Bears Again Have an Inning in
Wall Street.
LONDON DID NOT BUY As EXPECTED.
Brokers Still Look for a Rising
Market.
GENERAL MARKET REPORTS.

Special Dispatch to The Evening Star.
NEW YORK. Nov. 2-Prices at the OPEN
ing OF today's stock market reflected an
Improvement varying from Ia to ! per
cent There was a general feeling OF dis
appointment at London's indifference TO
the settlement Of the silver controversy.
Advantage was taken of this fact by bear
operators to depress prices. and they were
moderately successful in their efforts. De-
spite the decreased volume Of foreign bus
mess the feeling abroad is said to be bull
lsn on all our securities of the better class.
ana VIII soon be turned TO good account.
rorelgn holders of Louisville and NASH
VINE securities are not in favor of the COM
panys exercising the option now held on
tne chesapeake and Ohio Southwestern,
s anu VIII probably enter a protest against
sueh action. Should the stockholders' po-
siuon De defined with sufficient emphasis
IL is highly probable that their wishes
would be respected by the board OF d.
throughout the day and lost il-2 per cent
decline.
Sterling rates were inclined to stifen on
ass. anu were posted s' ''IA
Lazard Freres will have $4,000 in gold
and 10000 francs on steamers sailing from
London and Havre today, and further ship
ments are expected next week
Commission houses still advise purchases
on weak spots, and find many encouraging
features in the general situation TO warrant
their belief in better prices.
The market has narrowed considerably
within the last day or two. and profession
alism once more predominates.
Burlington was sold freely during the
day for short account on rumors of a
probable decrease in the net dividend rate.
decline Of / Ia per cent in the selling
price resulted from this movement Chi
cago Gas was humbled 21-4 per cent on
probable reduction OF SO cents q thousand
nf
Union declined SIS per cent to IS 81 New
england lost i per cent to 30 1-2 and St
faui lost similar amount TO 6 "a.
Inc industrtals were all active at con-
eessions from opening figures. Sugar and
respectively.
The market rallied slightly around deliv-
cry hour, and In some Instances all the
early losses were recovered. There WAS
no enthusiasm. however. and the buying
came entirely from the room and was soon
exhausted A period Of dullness is now
likely TO set in and quotations will be made
to correspond with prevailing rumor and
the whims Of the professional element The
scarcity In the floating supply of active
stock is a great drawback TO a bear cam
paign and will have a tendency to hold
prices at the present level unless the new
interests which have lately come into the
market force a sudden cornering move
ment, In which case, higher prices would
result. The lowest prices OF the day were
recorded during the last hour. all the gain
of the preceding hour giving way under Q
general attack on the entire list.
The London Market.
Special Cable Dispatch to The Evening Star
LONDON, Nov. 2-The Bank of England
reserve decreased this week $4,000. OF which
f717.ooO were gold exported. fls,0oO Of which
went to the continent. f2s5. 900 to Egypt and
f202. 900. presumably, to America Seventeen
thousand pounds came in from Portugal
fl32.0Oo from Australia and $4,000 from
Montevideo. There were no gold operations
today. the price OF bar gold declined to "a
IL "a pence. Silver recovered to 32 on CHINA
and India buying. Rupee paper is s5 "a
American securities were dull with Louis
vile nat and closing at the lowest Lead
ing English holders are disgusted with the
action OF the directors in acquiring the
Chesapeake Southern line There was rem
orally a good feeling in consequence of the
African success. but speculation was sup
restricted.