Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-07-10
FINANCE AND TRADE
Bear Spectators Managed to De-
press Prices.
THE EFFECT OF BETTER ORGANIZATION
lndustriaIs Are the Most Popular
With Operators.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, September 1s.-Bear tactics
were resumed this morning. with as much
success as might have attended more origi-
nal methods. Stop orders were abundant.
and some liquidation was noticeable. but
the real cause of the decline is attributable
TO the superior organization of the room
pessimists. The short interest was ma
terially increased, the complete absence OF
resistance inviting contract sales of this
character. London was not a factor in the
local trading.
The Industrial group is still the chosen
field of the reactionists and responds easily
to the will of their leaders. The sentiment of
the street is decidedly bearish on all the
active stocks I'm this class, and they are
confidently sold on all rallies
Distillers was first to succumb to the SELL
ing movement, losing 1-2 per cent in the
first ten minutes, which reduced the price
to 50 per share. At this point some covering
ensued, followed by the announcement that
a prominent director of the company who
has long been interested in the manipula-
ton of the stock. had resigned. This latter
intelligence had beneficial influence on
the price, which speedily gained per cent
over the previous low level All sorts of ru-
mors from a variety of sources are in circu-
lation as to the future of this industry.
ihcie 10 one polut, however, on which
they all harmonic, namely. the hopeless
ness of waiting for Improvement of a ma
terial character. The price is too low TO
warrant selling, but the other side of the
market offers few Inducements. The
conclusion Is obvious. Sugar was sold in
large amounts for both accounts. losing
? L. per cent in consequence. The bears
predict further concessions before the week
is out, believing that inside interests are
willing TO further their efforts
Congress will not meet before December,
but an object lesson will be as effective
3 per cent In spite Of the urgent efforts Of
certain interests to show cause why the
present raid Is premature, to say the least.
Arguments are useless when profits are so
easily made In defying them.
American Tobacco. about which little Is
known outside of the directory, sold down
3 l-2 per cent TO 90 and back again to par
on a fair volume of business.
In the railway list activity was less pro-
nounced, but, with the naturally sympa-
thetic declines excepted. the list was mod
erately steady. Rock Island was a con-
cent on operations by the professional ele-
ment. st. Paul is probably the next stock
that will command the attention Of the
ruling element
A reduction Of 1 per cent was recorded
today on a fair volume of business. The
balance of the list shaded OF fractionally
but attracted no special interest.
A falling of in the demand from remit
tiers and increased offerings of cotton fu-
lures combined to give an easier tone to
the market for foreign exchange Rates
were fully Lie below those quoted yester-
day.
Covering of short contracts during the
last hour resulted in a substantial rally
throughout the active list Final figures
however, rejected net declines for the day.