Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-09-28
FINANCE AND TRADE
Distillers' Was the Feature of the
Day.
MANIPULATION ADVANCES TEE PRICE
Germany and Her Relation to God
Exports.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK, September 2s.-The opening
of today's stock market was steady at
fractional advances over last nights clos
ing figures, but the character of the trading
was not equal to sustaining any important
improvement
Dlstlllers was the most conspicuous fea-
lure OF the day. continued manipulation OF
the Kind incident to the entire weeks pro-
ceedings successfully advancing the price
to 70. an apparently predestined realizing
limit. The reconciliation Of the old inter-
ests with the new, the covering of all the
short contracts of the former, and a will
lingness on the part of all concerned to
enter upon bull campaign are factors now
being urged in support of arguments for
even greater improvement in the price OF
the stock The manipulation may succeed
In the temporary establishment of higher
level but from now on the advance will
not be void Of opposition. When active
buying ceases it Is more than probable that
STEADY recession will set in.
The coal stocks were dull and only
steady throughout the day, but next
weeks developments are likely to direct
liberal volume of trading to the group
An advance in coal rates and the an
nouncement of Readings plan, calling for
smaller cash payment under the reor-
ganization than was at first expected, are
likely to be followed by an immediate adj
vance In prices. Any disappointment in
this particular would cause a selling move
ment in which the entire list would be
affected adversely.
The professional market now Intervening
between the gold scare and the return to
national consideration of actual condi-
lions can only be overcome by some rad
icai change, such as is now contemplated
In anthracite coal circles.
AS for the gold movement the market "a
overshadowed by the doubtful position of
Germany on this point, and rumors of a
further outflow next week follow closely
upon yesterdays assurances that at last
this form of apprehension had disappeared
from speculation.
Foreign houses are not all in harmony on
the subject OF prospective shipments, but
the better opinion seems to be that no
alarm is likely to follow any reasonably
probable effiux. while the tendency OF the
exchange market is strongly in sympathy
with the entire diScon tinuance of the outgo.
The public interest in the market a neces-
sary ingredient to all enterprises, has
dwindled to such small proportions as to
make prevailing quotations of little value
from the standpoint of merit. The weeks
reports of earnings, marked tendency
toward an increased export movement and
the uniform improvement in the commercial
world all combine in urging the establish
ment of the seasons best prices The fact
that prices are well supported whenever
concessions seem imminent is an encourage
ing sign and will probably resolve itself into
an argument favorable to a revival of buy
ing without further waiting for the possible
saving Of few small fractions
The weekly bank statement showing a
decrease of $3.50, 700 in loans, indicates
that the demand for money has fallen OF
just at a time when an adancing interest
rate was relied upon to overcome many of
the more unfavorable features Of the sftua-
ticn. The banks have, however, lost con-
slider able cash to interior points, which re-
fleets a growing use for funds in business
communities and for the purpose Of NOV
ing the crops.