Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-10-23
FINANCE AND TRADE.
Lackawanna and Jersey Central Lead
the List Upward.
THEIR PROPOSED UNION TEE CAUSE.
Awaiting With Confidence News
From Washington.
GENERAL MARKET REPORTS.
pecial Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. Oct. 9.-Init,a, nr,ce. This
morning were somewhat discouraging and
reflected the anxiety felt by the street n. IN
the fate OF the senatorial compromise, even
should the measure pass that body. The
administrations attitude was known to be
hostile to anything short of unconditional
repeal and doubts were entertained of Its
ever becoming a law.
This sentiment, however, was soon dis
placed by a more hopeful one and prices
responded smartly to the increased demand
for stocks.
Saturdays good bank statement may
have helped to produce the change, but
from whatever source It came. traders on
the long side profited by its existence AZ
the beginning Of the second hour prices were
moving upward with surprising steadiness
ana buying orders were in good supply at
the ADVANCE. The market had an old-time
ar. ana seemed full Of promise.
humors of the transfer Of a big block Of
Lacf1awanna to prominent railroad in
terests In this city caused a sharp rise in
tnat stock, and also In Jersey Central, be-
cause of the unity of interest resulting from
TINS move. Lackawanna advanced from 16l
70 III IL, net gain OF 10 1-2 per cent and
Jersey Central gained per cent TO 10
Inc advance In these securities served as
pace-maker for the rest Of the list which
responded promptly for substantial gains
Manhattan gained 2 LIZ per cent to 12e l-2
Lake shore gained per cent to 12s. Della
ware and Hudson advanced to 1e, a gain
OF I per cent; Northwest gained l-2 per
cent to 103 IL; Rock Island gained as mncb
more to IS; st. Paul gained / Is to 60 "a
and Western Union gained IS to g.
AS was expected the earnings OF North
west. which were announced today show an
increase over corresponding period last
year OF $117. 240
The regular statement of the c,earn,
house shows exchanges. $73. l19. 3s5; balances
a. 81. 9o2 and the subtreasury's debit bal.
ance. 1855. 600. The loan committee retired
$4,000 additional certificates UP to noon
24O COO
Money ruled at last weeks rates. namely.
l IL and for call and per cent for time
The market continued strong throughout
the afternoon and with the interest una
bated traders feel justified in their present
course or discountfng the future and feel
sure that no stumbling block will be put
in the way Of any legislation that win re-
lieve the present cramped condition in all
earnings Of railroads throughout the coun-
try. and especially those in the west are an
important factor at this time and one
which In the anxiety over silver was tenn
From now on. however, the usual reports
OF earnings. crops and other constituent
elements OF speculation will assume their
usual position Of importance and sieTfA-
pear to be but one side to the market and
that the long side. II would only be natural
to see reaction that would reduce today's
gains or per cent
Such an event is always due and the
advance itself Is the only warning given.
The last hour developed nothing of i'm
portance. Prices shaded or from the best
and noticeable decrease In the routine
Of business was recorded. The general
character OF the market. however, was un-
changed and closed with substantial gains
all along the line.
The London Market.
Special Cable Dispatch to The Evening Star.
LONDON. Oct. 23.-Forty-five thousand
sovereigns went out today to Roumania
and 10000 to Holland Bar gold was un-
changed in price and demand Silver has
risen to 80 rs pence on the advance in the
United States. with reports Of q continuance
OF the treasury monthly purchases for an
other year. Rupee paper 10 90 l-8.r Money
Is growing scarce In India, but sales OF
council drafts will probably relieve the
pressure. The stock market closed dull.