Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-10-19
Spirited Selling Causes a Drop in
Manhattan.
PUNCTUATION IN TIE NDUSfRIALS
Prices Not Affected by Prospective
Gold Shipments.
GENERAL MARKET REPORTS
special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, October 19-Speculation
was resumed this morning under condi-
lions Identical with those of yesterday and
was equally void Of feature. London prices
were about on a parity with our closing
and attracted no business on this side. In
the early trading prices were generally i'm
proved. but sold Off after the noon hour on
realizing and an extension of the short
interest. Manhattan was neglected througs-
out the morning hours, but opened at the
beginning of the last half of the session at
an advance Of Is per cent over closing
prices.
A revival of rumors concerning decreased
earnings, and the mysterious adverse de-
velopments of which so much has been
heard of late, resulted in spirited selling
movement, and an attendant loss of 3 Is
per cent in the price of the stock. Purchases
for both accounts at the decline partially
restored the loss. but the ease with which
the stock yields to the attacks of the bear
has developed an unusual degree Of caution
among traders for lorg account.
The Changers were uniformly steady at
gains averaging less than IL per cent, and
the balance Of the railway list was too dull
TO record any significant gains.
sugar opened strong at an advance of
IL per cent, but sold down IL per cent
on later trading by the room element
chicago Gas was marked up under skill
1ui manipulation to I6 1-2, and later under
similar methods was depressed / L. per
cent in order to catch stop orders.
General Electric was strong and weak by
turns on a good volume of business. The
sentiment of the street is inclined to be
tearish on this property, IL is said the
profits from an apparently good business
are not satisfactory and that a dangerous
rivalry Is likely to begin with the new
year.
The engagement of half a million gold
Tor shipment tomorrow had no significant
bearing on the course of prices, as the con-
tract was made earlier in the week, when
rates were higher, and is not, therefore, a
reflection of actual conditions at the pres
ent time. The offerings of cotton bills were
again abundant this morning, but were alb
sorbed with the usual promptness. Indi-
cations do not favor any further shipments
during the week. as bankers are still dis
posed to make concessions to prevent the
necessity OF such action.
The weekly report of the associated banks
will show a balance, resulting from SUBJ
treasury operations, of 81, 1JO,UCD in favor of
the banks. The treasury has been a heavy
debtor at the clearing house during the
week, as the result of pension disburse-
ments. The gold shipped last Tuesday will
be reflected in a reduction of cash holdings,
as will also the transfer, by the treasury,
of over $SOO,OOO to the country. The in
terror currency movement has been unim-
portant, the total loss from this source be-
ing about $4,000, most of which was con-
signed to southern points.
The last hours trading was active, and in
the main strong, at net advances for the
day,