Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-10-04
First Prices Were Better, but Re-
lapsed Into Irregularity.
RISE OF THREE POINTS IN CHICAGO GAS
More Bear Attacks to Be Made on
Sugar.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, October 4.-Prices were i'm
proved from IA to SIS per cent at the open
ing Of today's stock market, but relapsed
into dullness and irregularity as the day
advanced. The industrials continue to mo-
nopolize the bulk of the trading and are
totally Independent of influences and condi
tens applicable to the regular list Chicago
Gas forced sugar out of first place as the
result of a complete revolution In sentiment
On the part Of traders. The short interest
in the property, until this morning, was
considered by competent judges to have ex-
ceeded all previous records. The stock has
been difficult to borrow for several days. as
several large blocks have been purchased
and withdrawn from circulation by friends
of the company. The discomfort of the
bears was increased beyond the point of
endurance by the announcement that an
agreement had been entered into with the
Mutual Fuel Company, the details of which
are withheld as a matter of policy. Care
has been taken to avoid any compromise
repugnant to the antitrust laws of the state
of Illinois, and officials Of both companies
are quoted as being satisfied with the re-
suit Chicago houses, after a prolonged
campaign on the short side OF the market,
were conspicuous buyers this morning FOR
beth accounts.
The demand from this and other sources
was not supplied until an advance of
per cent had been recorded, large blocks
of stock changing hands in the process.
Indications point to further rise before
the upward movement is terminated.
Sugar opened strong, at a fractional ad-
vance but reacted Us per cent almost i'm
nediately on room selling. Later the price
was marked up per cent on covering. Inc
room inclines to the belief that the rally
will be carried a trifle further before the
natural tendency Of the stock will be al
lowed to prevail. A further reduction OF
lie in the price of refined sugar this morn
ing is a detection entirely beyond the do
II ain of profit. The bears will not long
overlook such favorable arguments for a
renewal of their recent attack.
Distillers sold up somewhat erratically at
the opening for gain of ga per cent.
but Immediately reacted 1-2 per cent on
selling by traders.
In the railroad list iullness was most
pronounced but prices ruled firm with the
grargers excepted. Burlington and Rock
Island each lost 1-S per cent, but elsewhere
the changes were not significant The short
interest is still large. and an advance is
mate business.
Yesterdays rumors Of diplomatic COM
plications between England and France
were responsible for higher rates in the
foreign exchange market as a result of a
desire on the part of local bankers to
strengthen their foreign balances. Detailed
accounts of the controversy Invested the
matter Of much of its seriousness and
prices declined in consequence. In this
mornings market the tendency was I'M
mistakably downward. although no i'm
portant concessions were recorded.
The supply of cotton bills is good as are
also similar drawings against shipments of
grain and provisions. The inquiry from
merchants has fallen off slightly and set
Elements for sugar and coffee under credits
re restricted.
The last hours business was dull, but
generally strong. Chicago Gas and Sugar
were features up to the close of business
at substantial net gains for the day