Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-09-27
Manhattan the Feature Among Rail-
ways in Wall Street Today.
MOVED BY RAPID TRANSIT RUMORS
Sugar Led the List in Point oil
Activity.
GENERAL MARKET REPORTS


special Dispatch to The Evening star.
NEW YORK. September 27.--Indications
at the opening of today's stock market
pointed to a continuation OF the profession
al monotony that has OF late been substi-
tuted for actual business. Later develop
ments proved the correctness Of the original
forecast The covering Of shorts gave .
certain amount OF strength to such securi-
ties ~ have recently been too freely sold.
but elsewhere the absence Of support was
clearly marked
Burlington sold UP "a per cent and Rock
Island Ia on the liquidation Of short con-
tracts. Missouri Pacific was depressed !
per cent shortly after the opening. but was
forced back to opening figures on moderate
purchases later in the day.
Manhattan was the feature Of the railway
list. being offered down as far as possible
by certain influential bear operators In the
hope OF forcing out long stock. Yesterdays
rumors Of the city's intention to secure con-
troll Of q system Of rapid transit were sup
plemented by reports of decreased earnings
for the current quarter, resulting from the
aggressive competition OF surface lines and
doubts concerning the company's ability to
continue its customary annual disburse-
ments to stockholders. In q bear market
rumors Of this character are to be expected,
and II is no proof of their accuracy that the
stock to which they are applied momenta-
r1ly CONFORMS 10 tnem.
Good judges of the property incline to
the belief that Manhattan In simply serving
the term assigned to It on the bear pro-
gram and will make up all of its losses In
the very near future.
In point Of activity and extent Of fiuctua-
ton sugar led the entire market. Opening
at an advarce Of Is Ter cent over last
nights final figures the price was depressed
without significant resistance to 81 1-2.
less Of IA per cent. Traders began the
selling on the closing Of the refineries after
Ignoring for more than twenty-four hours
the intelligence that such q move was con-
templated, and were effectually aided by
the uncovering OF stop orders. The sentf-
ment Of the street continues bearish at the
decline
Distillers was active within narrow lin
its and moderately steady. considering the
amount Of adverse gossip in circulation.
The officials Of the company volunteer no
accurate Information on the subject OF Its
financial condition. but deny that a receiv-
OF the stock en- rallies Is direct evidence
that this or an equally undesirable result
u anticipated by the professional element
National Lead, common, sold down I Der
cent In sympathy with the rest Of the list
The market for foreign exchange Is dull
ando without special feature. Bankers in
cline to the opinion that a part Of the
The last hours trading was In keeping
with that of the earlier part of the day and
wholly professional In character. The con-
tiEued covering In the Changers served to
keep prices fract.onally In advance Of those
first recorded. The industrials were not
materially improved during this period.
but were fairly active. There were no
hopeful developments at the closing Of the
day, final figures rejecting considerable
irregularity.