Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-11-16
FINANCE AND. TRADE
Speculation Without Significant
Feature.
OUTSIDE INVESTORS NOT DRAWN IN
Manhattan the Feature of the
Railways.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, November 16-The profess
sional element was practically unassisted
in it's efforts to make values in today's
stock market. The days trading was,
therefore, void of any significant feature
and lacked purpose. The occasional cover
ing of short contracts marked prices up
fractionally from an irregular opening, but
attracted no new business. The loanirg
rate on nearly all active stocks is all that
stands between the aggressiveness Of the
bear party and lower prices. The street
has been disappointed in It's efforts to at
tract the attention of outside investors. and
the unfavorable comparison between pres
ent prices and those OF a week ago Is
directly attributable to this cause. The
after-eection furry was unwarranted by
actual conditions and the investment public
was not to be deceived into purchasing
stocks from pools at advances resulting
from manipulation and sentiment. When
intrinsic merit can be pointed to as the
basis for improvement in stock values the
much needed outside support will not he
longer withheld. This improvement must,
of necessity, be gradual, and all sudden
movements can be relied upon as device
of the present controlling element to tempt
the unwary.
Manhattan was again the feature of the
railway lists selling down "a per cent on
further attacks from the bear element,
identified with all recent movements In this
property. The inroads into the cOmpany's
earnings, resulting from surface ccmp.c-
ton and the supposed liquidation of long
stock, are the arguments used by the sell
ing party. Pure bases Of stock at the de-
cline have been made by strong interests,
who rarely act unadvisedly in such mat
tiers. Jersey Central was marked up / per
cent on covering, as was also Delaware and
Hudson. The coal situation has not chang
ed, and the outlook for a profitable winters
business is far from encouraging.
Sugar sold down SIS per cent at the open
ing, but rallied on later purchases for an
advance of l IL per cent. The bearish
feeling in this stock, growing out OF the
probable action of Congress, Is not abated.
American Tobacco sold down IA per cent
under bear attack, and Chicago Gas re-
acted 5-S per cent from a similar move
ment. The market for foreign exchange
opened firm with rates fully 1-32 in advance
of those quoted yesterday.
A fair demand from both bankers and
importers is reported.
Rumors of gold imports were characterized
as preposterous by bankers, as the move
ment of gold from the other side could only
be conducted at q loss of nearly per cent
to the local importer.
The weeks operations at the subtreasury
have resulted in a gain of nearly S750,OOO
pected to result from the interior cur
rency movement. The shipments of cur
rency have been principally to southern
points.
The market rallied during the last hour
from previous low prices, and the pres
sure to sell stocks was materially lessened.
Final figures were irregular, but in the
main steady.