Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-11-23
Industrials the Most Active of the
Stocks.
ALL SORTS OF RUMORS ABOUT SUGAR
Changers Slightly Advance on a
Small Amount of Business.
GENERAL MARKET REPORTS

Special Dispatch to The Evering Star.
NEW YORK, November 23.-The covering
of short contracts and the absence of any
pressure to sell resulted in a moderately
steady undertone in today's stock market.
The volume Of business was extremely
small. and, as usual, originated from the
necessities Of the short interest.
The indnstrials were the most active feat
ures Of the day, being depressed In the
hope Of forcing a reaction in the regular
list so as to facilitate covering in that de-
partment. That the market will submit to
such potent manipulation is direct evidence
of its narrow and wholly professional char
acter.
Chicago Gas was offered down in the in
terest Of prominent bear operator, and
coupled with the sales of the room element
resulted In a decline Of IL per cent from
opening figures. There has been a steady
and well-concealed selling movement in
this stock for several days past, which Is
likely to eliminate In a rally at the ex-
pense OF the element now active in the de-
preston.
National Lead sold down 3-S per cent on
bear selling, and Sugar yielded to the same
extent under similar trading. Concerning
the last named. all sorts of rumors are in
circulation, and, as usual, these rurnors
are consistent with everything but the
action of the stock. Brokers frequently
meats are followed as indicating the pro-
posed course Of the stock, are now rarely
found on the same side of the market for
two successive days Until the Intentions
OF Congress are better known the con-
sentative operator will defer purchases of
this erratic bubble
In the regular list the Changers were adj
vanced from 1-2 to "a per cent on a small
volume OF business. The recent decline in
Northwest is believed in some quarters to
have extended IS far as a l per cent re-
duction in the dividend would justify, but
should the market continue in it's present
groove 1t Is not improbable that Burlington
action will be equaled IL not exceeded in
the extent of the decline following the off,
cial announcement. Manhattan was bought
by traders for gain of 3-4 per cent. but Is
stu the subject of much unfavorable COM
ment In regard to earnings.
The market for sterling and continental
bills opened steady, but a reduction OF 1-2
per cent in posted rates was reported dur
ing the morning. Bankers are not dis
posed to engage actively in this market I'M
I'll the effect of the new government bond
issue can be determined. Canadian bank
ers refuse to either buy or sell, fearing
tnat gold premium may influence ex-
char ge rates.
The banks report a loss Of nearly 81. $50. =
OOO through the weeks operations at the
suotreasury, and a gain Of 81, 500, 900 from
the entre currency movement. Considera-
bic money has been sent in by country
banks for the purchase Of bonds through
local institutions. The last hour was de-
voted to the evening up of traders con-
tracts, and prices were moderately steady
at fractional gains from the lowest The
week promises to close without the bear Do
sition being seriously threatened by the op-
posite faction.