Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-11-03
FINANCE AND TRADE.
London's Purchases StiRened Prices
in Wall Street.
BRITISH GOLD COMING THIS WEEK.
lackawanna Leads the List in an
Advance.
GENERAL MARKET REPORTS.


Special Dispatch to The Evening Star
NEW YORK, Nov. 3.-Stock values i'm.
proved from Is to per cent over night
and continued strong on early dealings
London's apathy gave way to some spirited
buying Of our securities, principally st.
Paul, Of which 5000 shares were taken for
foreign account. The selling movement,
traceable to operators in that market, is
said to have been almost entirely for short
account. British gold is now seeking in
vestment on this side. and Is fully aroused
to the importance Of buying at bargain
prices such as now prevail.
The market exhibits unmistakable evil
dences Of bear manipulation and the next
rally will probably be at the expense Of
those who have been active in depressing
values.
There is no pronounced liquidation and
prices hold up we'll under the marketing
Of large blocks Of stocks. Two and three
thousand shares have changed hands with
In the narrow limits of IA per cent from
the original SALE Surface Indications, 1t is
true. do not favor the bull side, but usually
well informed operators predict that profits
when they do come will come from that
side.
The large short interest, coupled with the
fact that tomorrow IL the last day that the
stock may be purchased for voting pur-
poses. made Lackawanna one of the strong
est stocks on the list. Opening at l73 it
sold up Immediately to Its and then reacted
and was well held at opening figures.
Traders made drive at Chicago Gas on
anticipated reduction in service rate, re-
sulting In loss Of 23-4 per cent to g.
Louisville and Nashville was again sold
quite freely on the general unsatisfactory
condition Of its affairs. which resulted in =
decline OF IA per cent from opening fig
ures. st. Paul lost l per cent to GA "a and
Rock Island lost / 3-S to 81 3-8. The gross
earnings of the latter road for the month
OF October show an increase over the cor
responding period Of last year of S22S,064.
Sugar opened at last nights closing ng-
ures, advanced 1 per cent to 101. and Inn
mediately reacted to 81 s-4.
General Electric yields easily under pres
sure and sold down on limited sales to Is IA,
ing.
Sterling rates were reduced to 81 l-29
4S4 l-2 without any special activity.
The tendency Of the foreign exchange
and further importation Of gold. This
view Is supported by the fact that while
our exports have increased, imports have
fallen off, leaving the balance Of trade in
The bond market is being carefully scan
ned for bargains by foreigners who show
disposition to realize on speculative hold
iI,gs and invest the proceeds In mortgages
paying q fair rate Of interest. The bond
market suffered severely from the unsettled
period through which we have just passed
and offered some rare opportunities to in.
vestmen. seekers, which are not yet entire
ly exhausted. though from to 10 per cent
dearer than they were a few weeks ago.
The closing hour was dull and prices re-
corded were generally in the neighborhood
OF the lowest for the day.
The London Market.
Special Cable Dispatch to The Evening Star.
LONDON. Nov. 3.-Bar gold was only in
slight demand today, at = IL 81 pence: sill
yer was unchanged, but weak on American
sales; rupee paper was IS 81
The markets were featureless. Americans
opened dull and improved considerably, but
closed under the best; they were mainly
influenced by Louisville and Nashville.
The issue Of 100000 Indian treasury
bills was largely applied for today.