Evening star., 1895-09-07
FINANCE AND TRADE
Volume Of Business Narrow and
Professional.
LONDON BUYING and SELLING
Sentiment avorabIe to Highe.
Prices.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, September THE result OF
todays speculation was generally favora-
ble to values although the volume of busi-
ness was extremely narrow and profession
al. London traded moderately on both
sides of the market, but as usual was dis
regarded a factor. Sentiment continues
favorable to further Improvement, as an
excess of purchasing orders conyincingly
attests. but at the points of most prominent
activity realizing sales are still noticeable.
Reactions are, however, naturally attend
ant upon bull campaign, and are prompt
ed Ey conservative business methods, and
do not Indicate decreasing confidence in
the main trend of speculation. The yearly
report of St. Pan was favorably construed
by the street and stimulated renewed buy
ing of this local favorite. London, how
ever, refuses TO concede any merit to this
property around present prices and is still
heavily short of the stock.
Foreign arbitrage houses are authority
for the statement that this short interest
may be forced into covering before the
settlements there next week.
Ihe entire Granger group was fractional
iy improved under moderate demand, in
spired by the belief that any activity dur
ing the coming week will result in addi-
tions to present values.
Tennessee Coal and Iron was marked up
3-S per cent by buying of the character
| usually incident to any movement in this
property.
AT the top level sales of long stock were
encountered, which retarded the advance.
The friends of General Electric were
again active in advancing the price of that
stock, the movement attracting fair vol
ume of business from the room element.
With the exception of the properties men,
niiicant feature.
The bank statement reflects loss of
S2,SooO0O in lawful money. the major por-
tion of which is in legal tenders paid out
on account of the gold movement. Those
| most familiar with the market for foreign
exchange express confidence in decidedly
easier market within the next fortnight,
due to an increased supply of commercial
drawings. 1t is expected that the syndicate
banks will shortly turn over a round
amount of gold to the treasury and estab-
lsh q good working margin over the pres
ent reserve limit.
The sincerity of the syndicate's efforts
is no longer doubted, and 1t is believed
that all possible assistance will be offered
the government without regard for any
stipulations in last February's contract.
The best feature of the weeks banking
operations is found in the loans item, which
reflects an increase of over $50o0,000 as
compared with last week. This increasing
demand for money is in all probability the
forerunner of early advance in interest
rates, which will again put the loan busi-
ness on profitable footing.
The decrease in reserve brings that item
down under So, 100000 This improved de-
| mand for money will have a beneficial
effect on the exchange market by attract
ing capital to this center for investment.
The outflow of gold, while passing almost
without comment in circles where the real
situation IS best understood, has eXerted
an adverse influence on the always con-
sentative Investment public With every
indication of the speedy adjustment of
existing troubles in this respect and
constantly Frightening business outlook
| dor 1S
as certain of early naturalization. Reac-
ticns will be urged upon the situation from
time to time, but long holdings are not
| likely to be pressed for sale during the
process, and no material depression should
result. The pessimists when in control
exaggerated the motives which they
based their actions, and it is not unlikely
tfat the present enthusiasm will be re-
sponsible for a similar ofIense in an oppo-
site direction, but as yet such is not the
case.