Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-07-14
FINANCE. AND TRADE
Prices Improved, but the Volume of
Business Small.
BEAR SENTIMENT STILL RULING
Outlook for the Granger Roads Not
Promising.
GENERAL MARKET REPORTS
special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, September 22.-Traders
we're disposed to take profits this morning.
and even up outstanding contracts at the
close Of the week. Prices were improved in
consequence. but the volume CT business
was insignificant. The sentiment of the
room is unchanged, the bear doctrine being
acquiescej in by nearly all of the more ac-
tive operators. Rock Islands action will
increase the doubt concerning the earning
capacity OF other roads depending on the
same class Of traffic and may lead to an or
ganized raid ON the more Vulnerable OF these
properties.
The outlook for the Granger roads is not
promising and future activity. cannot rea-
sonably be expected to improve values.
What activity there was in today's market
was confined largely to this group and was
conducted in the hope Of establishing a
higher level for selling purposes. North
west sold up IS per cent to 1O4. st. Paul
a similar amount to 66 and Burlington "a
per cent to 15 3-S Rock Island opened
strong at a gain of "a per cent reacted 1-2
point to 60 IL and then advanced. on COW
ering, to 81 81, closing strong. The selling
yesterday afternoon was perhaps a trifie
in excess of the cause, but the decline is
not yet complete.
the feature. gaining rs per cent on buying
for both accounts. The situation is still
decidedly complicated, the negotiations with
the Mutual Fuel Gas Company having ac-
rate war seem more than EVER likely Of
fulfillment The company will pay its
regular dividend shortly. and should the
disturbing factors be adjusted previously
the rooms belief in higher prices may be
justified, ---. =.
Sugar sold up :. per cent to ss,s on
moderate trading. Refined sugars We're re-
duced Is per cent pound this morning,
making the total reduction during the week
a fraction over u per cent.
Yesterdays decision in the Injunction
suit to prohibit this company from carry
ing on its business within the state of
Massachusetts, without first complying with
the request Of the state authorities to file
report of Its condition for the year end
ing In March was favorable to the COM
pany, and gives legal sanction to the reti-
cent policy of the management. The stock
does not rally easily, and the best informed
operators are averse to taking risks on the
long side for the present
Distillers was dull and strong around III
some interesting developments are like
ly to be disclosed at the adjournment
OF the several conferences. now being held
IN tne west In the absence of definite
knowledge traders are partial to the long
side for a quick turn.
The market for foreign exchange was
oui and reflected no important change in
continue to rule at LAB per cent for thirty
ana ninety-day loans respectively. Bank
ers are encouraged by the gradual weekly
extension OF the loans and believe that
the interest account may be converted into
more fruitful source Of profit before tine
year Is out.
Activity in the stock market would, of
course. hasten this result. but IL trade
conditions are to be wholly relied upon IL
Is not unlikely that another disappotnt-
ment will be added to an already long Sc
ries. .a.. ..s .~.-.t f. -.
The banks have gained 1914 1000 in lawful
money during the week. and report an in
crease Of over two and three-quarter mill
lions In loans. This increase is not fully
reflected in the deposits, so that the entire
gain In lawful money Is not required for
the surplus account The statement in de-
tail follows: Reserve increased s20,915,
loans Increased s.. S22 900. specie increased
SI4,lOo legals decreased SD TO- deposits
increased 81, 299, 200. and circulation increas-
ed $500. 100.