Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-09-14
TRADING WITHOUT FEATURE.
A Mysterious Influence Keeps Up the
Strength of the Market.

A Mysterious Influence Keeps Up the
Strength of the Market.
Special Dispatch to The Evening Star.
NEW YORK, Sept. 14-There was no i'm
portant change in prices at the opening Of
today's market, and trading was dull and
featureless. London did nothing on this
side. and the market for Americans was
stagnant and uninteresting. The board Of
governors of the Bank Of England reduced
the rate Of discount this morning to 4 per
cent but the result was disappointing, as
neither home nor foreign markets were
stimulated by the announcement.
The failure Of the anti-silver men to limit
the debate on the silver bill is being used as
bear argument against higher prices
Money is said to be plenty in the London
markets, almost to the point OF becoming a
drug, and is only prevented from finding an
outlet in the purchase of our securities by
the do-nothing policy OF the Senate.
The condition Of affairs in Washington is
not at all promising, and the increasing un-
certainty regarding silver legislation is
daily approaching misunderstanding eli
max; interest today centered largely in
the st. Paul dividend, which has of late
been the subject of considerable specula-
ton, as the prospects were about evenly
divided between its passage and its pay
ment. This question the board Of directors
will determine today, but the result will
not be known until after the close Of the
days business.
Richmond Terminal was conspicuously
strong, and sold up to the highest point
since the payment Of the second assess
ment, namely Ala.
The mysterious influence that has lately
given strength and support to the market
continues to be felt, and resistance and
elasticity are now the most pronouncei fea-
tureS of dnl1 and tho srrfa n a
thoroughly professional market.
The clearing house loan committee can
celed half a million certificates, and have
received application for the redemption of
ssS9.0e9 additional tomorrow. Today's re-
port Of clearing house transactions is the
most favorable Of the week. and shows:
Exchanges. 6f7.323; balances. $3.3S63i6,
and subtreasury's debit balance, $685. 7es.
Atchison's earnings for the first week in
September decreased $l20. 1000.
Union Pacific broke 5-s per cent during
the afternoon to 21 5-S, as the result Of a
bear attack.
trading, and added per cent to yesterday q
clothing price.
Some OF the shrewdest traders in the
street are authority for the statement that
confidentially advising clients that 1t is now
a sale.
The recent imitation of this stock has car
ried the rest Of the market up in its wake
any suuuen uecune WOulQ undoubtedly
precipitate a general reaction.
1t was the weakest Of the Industrial group
today and lost 3-4 per cent to S9
General Electric was strong on some
good buying. presumably by insiders, and
sold up per cent to q "a.
Business throughout the day was more
or less restricted by reason OF the inability
to keep track OF congressional news from
Washington, the local destruction OF wires
there making communication difficult
The last hour was marked by no note
ed fractional concessions from the opening.
st. Paul directors declared regular divi-
dend Of per cent on the common stock and
3-4 on the preferred.
The London Market.
Special Dispatch to The Evening Star
LONDON. Sept.14-The Bank of England $
reserve increased this week 1,OOO, 900 pounds,
Of which $4,000 were in gold imported.
During the week 1000 pounds in gold came
in from Australia, 1900 from Lisbon, II. .ooC
from Paris, and 10000 from Austria. 7.ooO
pounds in bar gold was brought and 40 ooe
went out to Roumania. The reserve is now
l7.5oo.oOO pounds. This is large. but not ex-
cessive
AS October approaches German exchange
Is becoming unfavorable.
The markets We're quiet today. 1t will
be holiday times till the end Of the month.
Speculation will probably revive in October
Silver was lower at "a 1-3 pence and ru-
pee paper unchanged. The Barring liauida-
ton has made slow progress in the last six
months. except the sales Of the partners
pictures for about fl50O0O The estimated
surplus over the total liabilities is f4ls.OOO