Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-10-18
The Industrials Occupied Specu-
Iators' Attention.
GOSSIP As TO SUGAR TRUSTS VALUES
Vain Effort to Start a Rally in
Prices.
GENERAL MARKET REPORTS

Special Dispatch to Tie Escains Star.
NEW YORK. October ls.-Tradcrs' Efforts
to start a rally this morning resulted I'm
narrowness and irregIlarity. London cables
brought no business and local commissions
were scarce. The short interes; IN the
Changers Is not easily alarmed. and all at
tempts to force covering failed. The foreign
exchange market is the disturbing element
of the present situation. and it's probable
course is still a mystery to bankers. on
comparatively small transactions the iirmer
tone OF the last few days was maintained
The decreased demand may have a favorable
influence on the gold movement. The re-
ceipts of bills this morning. most Of which
were cotton drawings. were fully up TO the
recent average. The entire supply was soon
exhausted, but rates were not bid up in the
process.
Runners of a large shipment Of coin were
circulated during the morning. but were not
confirmed by the larger exporting houses.
The extent of Saturdays outflow viii not
he definitely known until tomorrow. Lower
prices will prevail at the close OF the week
should the gold movement assume large pro-
portions.
The weakness which characterized the
finai trading I'm Sugar yesterday Was terrpo-
fariiy overcome by opening the stock at an
advance of as per cent this morning. LIB
eraI selling resulted in a loss OF l-2 per
cent from hrst prices. but the covering OF
short contracts restored early figures Ii Is
corSpicGous feature Of the various argu-
inents en the market value of this stock
that While admitting the possibility OF a
rally. there is singular unanimity in favor
of a detection somewhere In the seventies
before any resf Important stock accumula-
ton sets in.
The bear campaign against General E,lec-
trio resulted in a decline Of = per cent on a
good volume Of business. The selling Of
this stock has been quietly going TOR sew
eral days past and further concessions are
promised before the week is out
Chicago Gas was moved up "a per cent
on good buying in anticipation Of pool ef-
forts to force a rally.
In the railway list dullness predominatei
and changes were generally of little i'm
portance. Baltimore and Ohio regained
per cent of yesterdays loss. the REDUCTION of
the dividend being put down TO conserva-
tive business methods. which should inspire
confidence In the present management.
Manhattan was only moderately active
but held well around 100. Evidence tending
to prove that the recent decline was in
the main professional and unwarranted by
actual conditions is daily accumulatinR
The ease with which the decline was effect
ed was not reassuring to Stockholders and
the sentimental Influences so successfully
used before may be resorted TO again I'm
order to force liquidation. The disposition
among traders who confident of ulti-
mate results is to defer purchases until
after election.
The grangers. particularly st. Paul. were
inclined TO heaviness, and recorded frac-
tional concessions from first prices.
The business of the last hour not
improved in character nor increased in
volume A rumor that purchases of Gen.
eral Electric were being made a de-
Ginning scale for a prominent banking firm
added slightly TO the value of that prop
erty. The list generally recorded fractional
gains from low prices. but closed Irregular
| and without feature.