Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-09-01
Little Significance to Today's Stock
Fluctuations.
DECLINING TENDENCY In NDUSTRIALS
Sugar the Central Figure Of the
Day.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, September 1.-The covering
of short contracts over Mondays holiday
gave steady tone to today's trading and
was practically the only incentive to even
limited activity. Many prominent operators
left town at the close Of yesterdays bust
ness. which in measure accounts for the
dullness. London was fractionally above
our closing, but had no important business
on this side. The market was almost en-
tirely professional and therefore the deal
ings lacked significance.
Western Union attracted considerable buy
ing under pressure of which it recorded an
advance of "a per cent. The short interest
In this property have been surprised by the
character Of the investment demand for
this stock within the last few weeks and
are easily frightened into covering at any
signs of further Improvement over present
prices.
Louisville and Nashville sold up rs per
cent on covering and Northern Pacific pre-
ferred gained ] 3-S per cent for the same
reason. The Changers We're irregular, ST.
Paul gaining SIS per cent and Burlington
only IA over first prices. Rock Island, still
influenced by the gloomy interview OF its
chief executive, sold off 1-2 per cent on an
eral market is clearly a waiting one, and
can scarcely develop any activity from the
meager supply Of speculative material now
at hand.
The ipdustrials continue to reflect a de-
Ginning tendency. and sell off easily under
pressure. Sugar was again the central
figure of the day. and, as usual, was
seemingly irresponsible for fits eyrations.
After opening at a reduction of l-2 per
cent 1t sold down "a per cent on renewed
selling, and advanced under covering to
104.
At the latter price stock was freely offer
ed In round amounts sufficient to produce a
further reduction Of 5-S Der cent After
the early furry fair-sized covering move
ment served to hold the price steady around
opening figures, the last sale being exactly
at the first recorded price. The feeling is
generally bearish on the immediate outlook
Tor this property. as considerable lons
STOCK is now known to have been marketed
on yesterday s decline by holders well ad-
interests
III ambiguous wording Of the tariff bill
Is me only reason assigned for this action,
put those who oppose the manipulating in
terest are likely to be furnished additional
incentive just a trifie too late to use to any
advantage.
From present indications sugar is likely
to be very prominent in the records OF the
rext Few days transactions in the local
stock market. 1t is not a question of in
trinsic value, but one Of manipulation sim
ply.
Chicago Gas sold down per cent on ad-
vices from western sources indicating that
future developments would warrant short
sales. The balance of the Industrial group
was dull and without any important fea-
lures.
The week has been more or less Of a DIS
appointment to the bulls, who, while con-
trolling the situation, have been unable TO
counterfeit the bad effects of realizing sales
Selling of this character has also en-
Outraged renewal of short selling an ex-
tension or which is still considered TO be the
most feasible means of forcing a reaction
In the direction Of higher prices.
The bank statement reflects a loss of
SsonoO In lawful money and as the loans
have only increased 81, 100 600. the change in
the deposits is not important. The entire
loss in cash is shown in the reserve and
the surplus account shows the banks to be
holding S5,s2l 900 above the legal require
ments. The statement in detail follows:
Reserve, decreased. SS97, s25; loans, increas-
ed, S1,ll6,2I; specie, increased, $4,000:
legals, decreased, Sl,293, 500; deposits in
creased, SlsSl00, and circulation, increased,
SIS, 100.