Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-09-11
PRICES FELL OFF AT FIRST.
The Crop Report Responsible for the
Decline In Stocks.

NEW YORK, Sept. II, 1893.
The Hebrew celebration Of the new year
and the yacht race were responsible for the
falling of in attendance at the board this
morning. Saturdays bad crop report was
responsible for the falling off in values at
the opening.
London was weak from the latter cause.
and was trading in our securities at re-
duction Of "a to 1-2 per cent. Several
thousand shares were sold for foreign ac-
count, principally St. Paul.
Our market was lower in sympathy with
London, but there were no stocks pressing
for sale and prices soon recovered. Any
special demand for stocks resulted In a
sharp advance in prices and last week s
high prices were in some instances eclpsed.
The clearing house loan committee Can
celed S3OJ,OO additional certificates at
noon, and the effect was almost instantane-
ously reflected in the price of active stocks.
Manhattan continues to lead the advance
and added 4 1-2 per cent to it's selling price
in the first half of the day. Western
Union advanced from 81 ga to "a Is ST.
Paul gained 2 Is per cent to g., Louisville
L 1-2 per cent. and Burlington gained 2
per cent to Sc. The coal stocks were es-
pecially strong. Lackawanna gaining per
cent to l42 IL and Reading gained l to 20 ga.
Skillful manipulation of Sugar marked up
the price of that commodity from 80 IL to
SO 1-2 and the industrial list generally was
higher
Railroad earnings reported today were
Encouraging, but not unexpected, and con-
seauently had no effect prices. ST. Paul
for the first week in September reports a
decrease of 100000 and Atchison for the
fourth week in August decreased $3.50. 900.
making the total decrease for the month
$17o, coo.
The banks are still profiting by sub-treas-
ury operations as is shown by today S
statement Exchanges, $5S, 592 293; balances.
nvI6 IL 1at,t t.a1a
S455. 103
The market continued to advance during
the afternoon, and trading became more
active.
In a measure the recent rapid rise in Man
haitian. The company's report filed With
the railroad commissioners shows that the
number of passengers carried over ITS en-
tire system during the present year was
22l. 4O7.191. an increase Of 7,14.452 over last
year. On later trading this stock advanced
to 1874 3-4, a net advance of s 3-4 per cent for
the day and total gain for three days Of
ii points.
Trading is still largely professional, and
confined chiefly to a few specialties, and re-
action. although confidently predicted. lis
apparently as remote as ever.
Late this afternoon the clearing house
committee received application for the can
collation. Of 100000 loan certificates. which
will so over until tomorrow.
The course of the market was uninter-
fupted during the last hour, and prices held
we'll at the advance.
On the London Market.
LONDON, Sept. 1.-Two hundred and
eiShty-five thousand pounds in gold came
into the Bank of England today, chiefly
from Australia. Money rates were easy
and the markets were quiet, owing to the
Jewish New Year holidays
In the beginning Americans were dull
because Of the Milwaukee directors report
Of the floating debt. although 1t is covered
b. bonds. They recovered later Rupee
paper was dull at IS "a.