Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-09-05
STILL A RISING MARKET.
Good Effects of Saturdays Bank State
ment Continue.

ment Continue.
Special Dispatch to The Evening Star.
NEW YORK, Sept. 5.-Today's market
opened at a slight advance from Saturdays
closing, and continued strong throughout
the morning. The good effects of the bank
statement are still felt and contrary to ex-
pectations the advance started by it's an
nouncement was continued today. In a
market given over almost to the profess
sional element, as is now the case. there Is
no difficulty in tracing the cause of the
rise to covering of short contracts. 1t nat
urally follows in consequence that as the
short interest decreases the probability of
reaction increases.
In a broader and more general market the
rise might be continued uninterruptedly,
under prevailing conditions, but with the
public still apprehensive as to the char
acter of the coming legislation Improvement
will naturally come slowly and only after a
series of declines and recoveries, such as
constitute traders market.
The outlook, however, Is decidedly en-
couraging, and with the prospects OF an
easier time money markets are daily i'm,
proving. Time money at normal rates VIII
go farther toward retaining stock values
than any other one thing, and 1t Is gratify-
Ing to note that the appearance OF large
sums at the legal rate may be confidently
looked for in the near future.
Today's market at noon showed an I'M
provement of from 1 to 2 per cent. and
later. aided by some good buying, which
seemed to come from the outside prices
advanced still further.
At l 30 the highest prices Of the day were
recorded and activity became more general
Western Union was the conspicuous fea ture
in the regular list and advanced from 80 81
to % IL. Manhattan gained two points TO
121 and Lake Shore advanced to 12O S-4.
gain of 2 IA per cent. New York Central
sold IN to f4 1-2. a gain of per cent. and
Burlington gained 3-8 Der cent to Sc is.
The Advance in the industrials was led bv
General Electric. which STRENGTHENED Its
position by adding II per cent to its sell
ing price. Sugar was active and gained ?
Der cent to 50. Chicago Gas advanced to 63
81 an Improvement of Ii per cent.
The bond market continues to improve
and is broadening. This Is most substan-
tial feature and can not fail to produce
good results.
The clearing house staternent TODAY
norts exchanges SIS. al. 9S': balances. ST.
eic2ie. and the subtreasurv's debit balance
si62. 909. the largest for several weeks.
Railroad EARNINGS.
I.ouis,-','e and Nashville earnings for the
@o''-+h weolc in Aurust show a decrease Of
SIC i'5. making total decrease for the month
sSoi SO
Texas and Pacific same period. de-
creased s23 1n2 and month decrease $50 90
Denver and Rio Gra-1e. last week in Aug
ust. decreased s124 $40 total for month
1851. 700. st. Paul for the month Of August
decreased 1886 100. Chesapeake and Ohio
fourth week. decreased 500. S04 total de-
crease for month. sl1o117. and Wabash
fourth week decreased $4,000, months de-
crease, S171 5000.
Owing to the rapidity Of the advance
and the fact that purchasers at lower fig
ures We're inclined to take profits. the high
prices at the beginning of the last hour
were taken advantage of by traders to sell
for reaction
Prices yielded only slightly and the ad-
vances made during the early trading were
not naturally effected.
Americans Higher I'm London.
Special Cable Dispatch TO The Evening Star.
LONDON, Sept. 5.-American securities
closed hestating after rise. The Dutch
and Germans who bought at the bottom
prices were inclined to realize Dutch buy
ing Is now reported. A better supply Of
stock is expected for the mid-month settle
ment
rise in Argentines was quite feature
today. Discount is fiat. The final market
rate was BIS.
The Bank of England may reduce the
official rate next Thursday. The canard in
the Financial News to the effect that Glyn's
Bank would advance three millions sterling
to the Indian government is absolutely
baseless Rupee paper was better. Nearly
1866 in gold came in and $4,000 in United
States coin went out