Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-10-11
FINANCE AND TRADE
Politics Mixed With Rapid Transit
Schemes and Manhattan.
EFFECT SEEN IN TIE STOCKS DECLINE
An Advance in the Price Of Sugar
Trust.
GENERAL MARKET REPORTS
Special Dispatch to The Evening star.

| Special Dispatch TO The Evening star.
| NEW YORK. October 1.-THE trader
element resumed control OF speculation this
| morning and took advantage OF a strong
| opening TO put out additional lines of short
stocks. There a conspicuous lack of
unity later In the day. but In the main
prices yielded In sympathy with the more
pronounced desire. The resolutions adopted
at last nights democratic convention. In
dorsing the rapid transit scheme. with
recommendation that the work be rapidly
pushed. had a depressing effect on the price
of Manhattan Elevated On a fair volume
Of business a decline Of IL per cent was re-
corded. Politics and surface railway COM
petition are being urged by the bears as
means of forcing liquidation In this property.
with only partial success.
Western Union was inclined 10 weakness
as the result Of yesterdays reported de-
crease In surplus but was confined within
narrow limits. owing TO the professional
character OF tine trading. The Changers sold
of under the organized attacks Of bear
operators. Rock Island lost per cent,
Burlington =. and ST. Paul n on a good
volume of business Missouri Pacific Was
irregular under a reported Increase Of Sla.Vs
in earnings for the first week this month.
| and Il decrease OF s2.30a.59s from January
1 to August 81. In other parts OF the ls'
the percentage of decline and the volume Of
| business were more limited
Sugar opened steady at fractional adj
vance ever closing figures, and, after
/ moments hesitancy, in which fractional
concessions were made the price advanced
1 Ia per cent Inside interests are not pur-
chasers OF any significant amount OF stock.
and are not likely TO come into the market
at the present level. The recently organ
lied bull pool will liquidate at a moderate
profit and in doing 50 will remove the only
element of support under this property.
The recent decline has been too continuous
to tempt the conservative element into spec
ulation on the short side. but the Influences
Instrumental in producing the decline are
still successfully operated against value at
the will OF the manipulating interest.
Cordage was a prominent feature OF the
days trading. selling down I Is per cent
Immediately after the opening. and rallying
3 per cent on rumors OF favorable develop
nents TO be announced later In the week.
lation Of old material. estimated at 2OeO
tons. Is to be disposed of. and a new start
made. Strong interests are willing 20 sup
ply the working capital necessary TO exec
cute this project and higher prices are pre-
dicted for the stock Immediately the official
announcement is made.
The rates for foreign exchange advanced
fractionally again today under pressure of
the demand from remitters. The supply of
ILLS against cotton shipments II good, but
they are absorbed quickly when offered.
Gold may go abroad by Saturdays steam
ers, but bankers do not consider IL probable
that any shipments will be made before
Tuesday next The bears. however. will
force shipments IL possible I'm order to bring
about a reactionary speculative sentiment.
Final trading was dull and irregular with
concessions for the day predomlnating.