Evening star., 1895-05-28
FINANCE AND TRADE
Reaction in Values Throughout the
Stock List.
CHANGERS WERE THE ACTIVE FEATURE
Little News on Which to Base the
Decline.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, May 2s.-With a few un-
important exceptions, the reactionists oper-
ated successfully against values in all parts
of the active list this morning. London's
cables reflected substantial fractional de-
clines, and timid holders were easily per-
sualed to part with their holdings at prices
fixed by the professional room element.
Conservative operators were quietly abb
sorbing all offerings. but made no effort to
stay the decline. The action of today's
market is regarded as entirely natural, and
will probably prove beneficial in its ulti-
mate results.
The grangers were the active features
of the regular list, as usual, and all were
depressed a full point from initial figures.
Manhattan yielded easily to moderate
selling, a loss of 2 1-2 per cent being re-
corded during the first half of the session.
There was little news on which to base
the decline. the most potent influence
originating in the general desire to force
lower level of values in order to revive
buying demand. In the industrial list
there WAS a fair volume of business and
some irregularity.
Sugar was weak on continued selling of
small lots, presumably in the interest of
certain operators said to be desrous of
accommodating stock at lower prices. The
total absence of support noticed through
out the morning and the size of individual
sales gave considerable color to this view.
Leather was active at a decline of more
than per ceptpart of which was restored
on an attempt to cover early sales. Cen
eral Electric advanced 1 per cent on pur-
chases for both accounts.
The room is inclined to view this prop
erty in a somewhat more favorable light
as the re-ult of several pending develop
mentS of an advantageous nature.
The contingencies on which certain Of
these developments are dependent, however,
are such as to prompt caution in estab-
fishing their market value.
the market for fore ign exchange was
improved demand from remitte-s. The sup
ply of commercial bills is small and the
volume of business limited As the result
of these conditions, rates are extremely
sensitive and liable to frequent changes.
The meeting of the anthracite sales
agents Adjourned until 3 o'clock, without
having taken any important action on
either prices or tonnage for June. Some
conclusion en- these subjects is expected 20
be reached during the day.
The trading of the last hour was confined
to the room traders being disposed during
the first half of this period to work for a
rally.
Fractional improvement was noted in
nearly all of the more active issues but
there was little disposition to regard the de-
cline as complete.
The holiday on Thursday will probably
result in a narrow and professional market
tomorrow, which will aid the reactionists
in forcing further concessions, should such
a desire prevail London will contribute
little to the volume of business between
now and Friday, which adds weight 10 the
conclusion that temporarily lower prices
are to be expected.