Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-09-26
FINANCE AND TRADE
Free Offering Of Commercial Bills
Today.
FOREIGN EXCHANGE FALLS, THEREFORE,
The Public Ceases for a Time to
Dabble in Stocks.
GENERAL MARKET REPORTS

Special Dispatch to The EveIing Star.
NEW YORK, September 26.-Prices were
generally steady at the opening of today's
stock market, and were not significantly
changed by the subsequent narrow trading
London was irregular. and was not fac
tor in local operations. The foreign ex-
chsrge market was weak. rates being
slightly reduced from yesterday, as the re-
suit of free offerings of commercial draw
ibgs. In view of the fact that yesterdays
engagement Of gold Is less than one-half Of
the amount desired abroad, 1t is doubtful
IL sufficient quantity of bills could be OBJ
tanned under the export rate were the re-
mainder of the consignment Immediately
Regulated for. The outflow to Germany,
however, Is sure to be Of but temporary
duration, and there is little apprehension
that England will again detract any con-
siderable amount from local institutions.
The stock market cannot be described as
weak In any sense, but the public demand
for stocks has almost entirely ceased, leay-
ing valves to the discretion of the room
element, which alternately advances and
depresses them in the interest of fractional
profits. There Is no bad news on which 10
sell. but the unsettled feeling originally
forced into speculation by the continuous
loss Of gold continues to restrict the pur-
chasing power. There can be no doubt
tnat activity under the circumstances
would force a higher rarge of values. but
except where pools are active the prevail
ing disposition Is to wait for some new in
tellsence which will revive a strong out
The report Of earnings submitted during
the DAY were in the main favorable, as the
IoNoWlng more important examples attest:
ed $196, 49,
Southern railroad for the third week of
September increased $23.232, and New YORK
Central for the quarter ending September
~ Will snew surplus of $2OO.000 as COM
pared with a deficit Of S96,942 for the same
period last year.
These increases are accompanied with the
assurance that for the balance of the year
at least equally good and probably better
showtnss will be made. Earnings are. fn a
majority OF instances, conforming to recent
conservative predictions, but beyond slim
uIatlng a Few cautious purchases the street
mas not utilized the Improvement to much
advantage. That more stress wifi be laid
on actual figures in the rear future is not
doubted. and it is altogether probable that
tne professional element will be forced into
a position of secondary Importance during
the process.
sugar was marked up at the opening a.
the result of the failure of the stock ex-
company's refusal to submit regular re-
ports Of earnings and conform to the GUS
temary usages of listed stocks
During the day further advances in the
rates for certain goods Of the refined pro-
duct were announced
Distfllers attracted some realizing at the
advance. but Is still the subject Of much
favorable attention from those most famil-
lar with the company's prospects, and
higher prices are predicted on the settle
ment of certain pending contentious.
From the best estimates obtainable at
this time 1t is probable that from 81 600 OOo
o,rf n
Saturday for consignment to Germ any.
Canadian banks continue to withdraw
moderate sums, $15O.000 being taken at thu
subtreasury during the afternoon.