Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-11-22
Fractional Gains in Prices From
Yesterdays Closing.
IMPROVEMENT IN TEE CHANGERS
Not Warranted by the Condition
of Their Business.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, November 22-Prices at
the opening Of todays stock market re-
nected fractional gains from the low clos
Ing OF yesterday. as the result Of covering
and some buying for London account The
volume OF business and the character of
the trading are unchanged, the profession
al element being responsible for both. The
short interest is again the subject of much
uneasinees among traders, and a rally Is
likely as consequence of such condition.
The Improvement In the Changers, led by
Rock Island, was directly attributable to a
reduction Of outstanding obligations. The
situation In the territory in which these
roads operate furnishes no evidence on
which to base an advance in their respect
I've securities. The earnings are uniformly
discouraging, and the most lenient fore
casts OF the winters business are not such
as to encourage purchasers in the hope of
immediate profits, The settlement Of the
douot as to Burlingtons ability to pay the
usual dividend is succeeded by a similar
apprehension for Northwest.
1t Is believed that a reduction to a 8
per cent basis is the most to be expected.
while even lower rate may be substituted.
The management of this property can Re
relied upon to distribute to each stock
holder his pro rata share of the company's
earnings without regard for the last pre-
vlous rate and without resorting TO the
dangerous expedient of depicting other
funds not created for this purpose
The published reports of earnings do not
warrant the usual rate. and the selling of
the stock for a further decline of IA Der
cent today was based on a comparison Of
these reports
Sugar sold down per cent in direct Cd.
position to the opinions advanced by In
side interests at the close Of yesterdays
market. The sales were for liberal amounts
and were supposed to have been made in
the interest OF the bear party Fears of
free-sugar agitation in the Senate were as
signed as the basis OF the decline. 1t is
intimated that the company will declare
the regular dividend about December 4,
but Will make such q poor statement of
earnings that the good effect OF the first
action will be more than overcome by the
latter. Chicago Gas sold down / IA per
cent on the discovery by traders that the
inside supporting orders had been with
drawn.
A consignment of 100000 in gold Is In
transit from Canada to this city, TO he used
In purchasing the new five per cent bonds,
and a meeting CT local bankers has been
called for O'Clock today to consider a
proposition for the purchase OF 10000, 900
IL not the entire $50.O0O.OO0 Of this issue 1t
was also rumored that two OF the more
prominent national banks had offered their
gold holdings to the treasury to repair In
some measure the recent ravages on the
federal gold reserve.
The market for foreign exchange opened
dull and strong on limited volume of
business. Remitters were disposed to pay
better prices than yesterday for desirable
bills.
The last hours trading was dull and ir-
regular. with prices fractionally improved
from the lowest.