Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-11-16
FINANCE AND TRADE.
Brokers Predict Another Rise In
the Stock Market.
PALLOF 3 POINTS IN GENERAL ELECTRIC
The List For the Most Part With
out Fluctuation.
GENERAL MARKET REPORTS,

Special Dispatch to The Evening Star
NEW YORK, Nov. 16.-The scarcity of
stocks In the loan crowd started a COVERING
movement at the opening of today's stock
market, which resulted in fractional gains
along the list. The bears are losing oona-
dence and seem anxious to cover rather
| than increase their line Their progress in
the direction OF depression has not been
satisfactory by reason of the rallies that
follow each effort to cover and they are
now willing to adopt more profitable meas
ures.
Professionalism drifted into stagnation
and left all but few of the specialties un.
changed in price. The bulk of the room
gossip is bearish, but the narrowness of
speculation coupled with the already encr-
nous short interest makes operation on
that side dangerous aid the bears them
selves have no longer the courage of their
convictions. This hesitancy on the part of
! the leaders and the absence of any organ
lied effort on the part of the bulls have led
to a general falling OF in the volume of
business.
Commission houses continue to predict a
sudden bear panic from natural causes and
favor the long side Of the account Tor a
long pull.
AS predicted several DAYS ago General
Electric came under the ban OF disapproyal
and was started on its downward career
to the extent of per cent from Il L.
Sugar was erratic ana declined 3-i per
cent to % IL, then Immediately recovered
to 81 ga, at which price ii became dull and
later reacted Slightly.
The remainder of the list, both railroad
and industrial. made no important changes
in price.
Bear talk on Burlington is rife, but with
out special effect on the price of the stock
The foreign exchange market opened
higher and stronger this morning. Posted
IA ties were advanced to 4S3 l-2a486 which
will prohibit further importation of gold
the demand for remitters is daily in
creasing. and will probably be sufficient
to sustain the upward movement until the
supply of bills is increased Exports OF
grain and provisions are very light, which
is another reason assigned for the advance
Money on call loaned at l per cent and
time accommodations are being made to
suit the borrowers, with the supply OF
available funds far exceeding the demand.
The clearing house statement shows ex-
changes, So. 246,123; balances. S6,553153 and
the subtreasury's debit balance. SIS. S5l.
The same purposeless market continued
through the afternoon, with further conces-
sions after the delivery hour. News OF
every description was lacking and old
operators look upon the situation as one
likely to breed activity in the near future
der opening figures.
The London Market.
LONDON, Nov. l6, 4p. m. Closine-Con.
soils IS 3-s for both money and the account
n. Y, p. and o., firsts Is s-S: Canadian
Pacific, as; Erie. IA IS; Erie, IDS, 20 3-4
Illinois Central ABA: Mexican ordinary
Ii 1-2; st. Paul common. IS Is; New Yors
Central, 1oi; Pennsylvania, 81 5-S; Reading
II S-s; Mexican Central new As. 81 l-2 Mon.
ey 1-2 per cent. Rate of discount in the
open market for both short and three
months Ia -.
bullion withdrawn from the Bank of Eng.
land on balances today, nlS,OO0.