Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-10-21
FINANCE AND TRADE.
Expectation of Prompt Action by
the Senate Held in Wall Street.
PROBABLE EFFECT ON TEE MARKET.
A Favorable Bank Statement
Issued.
GENERAL MARKET REPORTS.

Special Dispatch to The Evening Star
NEW YORK Oct 1.-The realizing move
ment begun at the close OF yesterdays
business had a good effect on the course OF
prices in todays market. Buying orders
were plenty and prices were advanced in
proportion to the demand.
After a dull and Indifferent opening came
an undertone of strength which soon de-
vcioped into a well defined movement In
favor OF higher prices.
London was practically lower and was
not a factor in our market the volume OF
business from that side being extremely
small
There was no special news to influence
prices. except that received from Washing
ton' and that. though brief. was encourag-
ING " lille II is by no means a certainty,
there would appear to be little doubt of
tne senates action on repeal within the
next lew DAYS The street is confident that
tnis ~ the correct view of the situation and
Is waiting for some demonstration at Wash
, uiston mat will justify action on this be-
Following strictly In the line Of prece-
cent, Wall street will Immediately discount
the era OK prosperity that must follow, no
matter now slowly. amy settlement of our
nnancial policy. The interior and the coun-
try at large viii reap little or no Immediate
good from such legislation. but stock spec-
uiation VIII be conducted on the presump-
ton that what is agreed to be done is done
already.
The bank statement fully realized expec-
tadons by showing another handsome in
crease In reserve. The decrease in loans.
however. In anything but encouraging, and
points conclusively to the fact that a eiut
In the money market II inevitable unless
Some outlet is provided for the enormous
surplus now lying in idleness. II II evf-
dence. too. OF the extremely slow pace
ad0Df hy Nd
how cautious borrowers have become.
summary OF the statement follows:
Reserve Increased. ss7A72s; loans de-
creased, a.576.seo; specie increased, G.Sss. 100:
leeals Increased. S.7l3see: deposits incrcas-
s26s COZ.
The clearing house statement today re-
ports exchanges. ssoS $50: balances. s.
ance $685. 35s
Delaware and Hudson was conspicuouslv
greatest advance OF the day. moving up
10 per cent to ia Manhattan followed
with a gain Of Ia per cent to IN Ia and
Lackawanna was good third with Z per
was strong and gained 2 l-2 per cent 20
l2a ara Consolidated Gas gs,tnei I 20 IL
The industrials were strong. and as usual
the most active, Sugar leading the van
Gas improved Is per cent to o. ID and
Distillers was active and remarkably well
held at 81 per cent advance to IS IS
General Electric until recently one ~ the
most active features az the industrfais has
dwindled into insignifcance and hovers
idly around *. The remainder Of the isyt
while attracting no particular attention.
was strong. and. in most instances. slight
gains were recorded.
The half session. OF course. affected the
volume OF business. but interest showed NJ
signs OF waverfng and IN a majority 81
cases Iist prices were the best. The week
closes very satisfactorily and with the as
surance that the long delayed remedial
process Is about 60 begin. Shorts have
shown signs OF increasing nervousness and
will run TO cover the moment the issue now
pending is determined. Railroad earnings
in the west are improving and coalitions
generally taking on an air Of ENCOURAGE
ment and prosperity.