Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-11-28
Professionalism Continues to Domi-
nate Quotations.
BEAR ELEMENT CARRY THINGS EASILY
Southern Railway Securities Com.
ing to the Front.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, November 2S.-Opening
prices this morning reflected advances
varying from IA to IL per cent over yes
terdays final figures. The higher level
was the result of a traders effort to es-
tablish a satisfactory basis for selling
movement. There were no new develop
ments of Importance, and the general de-
cline which followed Immediately after the
opening is ascribed to the professional op-
erations of the room.
Northwest was marked up IL per cent
on covering but attracted new selling at
the advance, resulting in a decline of Is
per cent from initial figures. Burlington
was weak under liberal selling, which de-
pressed the price "a per cent, and st.
Paul lost "a per cent on a smaller volume
of business.
Jersey Central was moderately active,
and in sympathy with prevailing senti-
| ment declined in proportion to the amount
1 per cent. and the remaining coal issues
were barely steady around first prices.
Manhattan was again sold by bear traders
for a decline of per cent, which resulted
in a revival of the pessmistic rumors re-
garding depleted earnings.
Dizziness In the balance Of the railway
list prevented any significant changes In
quotations. The ease with which all recent
attacks have been conducted demonstrates
the superiority Of the bear organization In
the present market, and while admitting
the gradual Improvement in business cir
cles, traders are not willing to purchase
stocks, except for a turn, until results are
more pronounced. .
The securities of the new Southern rail-
way, the preferred stock In particular, are
being urged upon the attention OF investors
as probable conspicuous participants In the
next upward movement These issues were
no exception to the general weakness else
where noticeable in today's trading, out
the rapid strides the south Is making In
overcoming the ravages OF the panic en-
courages the belief in this sections leader
ship in speculation upon the establishment
of normal conditions.
Sugar was the active feature of the in
dustrial list, selling down per cent on
sales generally attributed to bear opera
tions. The dividend rate Is again the sub
1ect of considerable doubt among traders,
as 1t is generally known that an effort was
made to reduce 1t to per cent at the close
Of the last quarter. AS matter OF policy
such q reduction would be entirely con-
sistent with the attitude this company Will
be forced to adopt during the deliberations
of Congress. Competent judges predict
the adoption of a reduced rate, but differ
as to the amount Of the reduction.
Chicago Gas was sold down / IA per
cent and National Lead 1 "a per cent,
more from lack of support than from any
more significant motive.
The directors of Delaware and Hudson
/ "a per cent, payable December Is. As
the books close today all sales OF stock
made during the afternoon were less the
amount of the dividend.
The market for sterling and continental
bills opened steady on a small volume of
business with rates as full commission
above those quoted yesterday. The supply
of bills was barely up to recent standards.
Business during the final hour was ex-
tremely dull and unchanged in character
The covering movement of the last two
days having greatly increased the supply
OF borrowable stock, operators are inclined
to look for profits on the short side. The
balance of the week will witness only such
rallies will of necessity follow any at
tempt at covering. Closing figures repre-
scented net losses for the day in a majority
of instances.
Brisk Market for Bonds.
NEW YORK, November 2S.-The bond
market announces that the first five mil
lion of bonds offered at 40 has been sold,
and the price has now been advanced to
11S 1-2.