Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-09-25
FINANCE AND TRADE
Desired Effect of Advance in Cotton
in Liverpool.
INCREASED EXPORTS LOOKED FOR
Feeling Of Uneasiness Has Become
Less Pronounced.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, September 25.-There was
little new business in today's stock mar
ket, irregular professional trading predom-
mating in all departments. The engage
ment Of a million gold for export. as
rpmored yesterday, emphasized the pre-
vailing narrowness. and acted as a de-
terrent to outside purchases.
The market for foreign exchange was
fairly well supplied with commercial bills
and drawings against gold exports. sharp
advance in cotton in the Liverpool market
Is relied upon to stimulate increased ex-
ports OF that staple. and force further con-
ceasions in exchange rates. The syndicate
organized at the beginning of the week
for the purpose of purchasing the $1,000.
600 new per cent bonds to be issued by
the New York. Lake Erie and Western rail-
read WILL 1t is said, sell the bulk of the
loan In the London market The proceeds
or this sale will materially assist the de-
sired decline in the exchange market
The new movement of gold to Germany,
season, barely reflects a profit at prevailing
rates and must yield to any further con-
cessions. All things considered natural
influences seem destined to turn the tide
IN our favor In the very near future, and
while further losses are to be expected dur
ing the week the feeling of uneasness is
daily becoming less prominent and values
f1uenced.
The Illinois Central will shortly acquaint
Its stockholders with a recent resolution
OF the directors relative to an increase
OF ten millions in the present capitaliza.
ton. the new stock to be offered to the
present holders at par and 10 the extent
or 70 per cent of present holdings.
Distlllers was the feature of the active
list throughout the morning. purchases of
round lots successfully advancing the price
Ia per cent. The interests credited as rem
resentng pool In the property were
again the most conspicuous buyers, orders
being executed in rotation; tie crowd were
being left without a representative of the
purchasing party.
Sugar advanced easily under buying.
about equally divided between the two &C.
counts An advance In all grades of the
refined product stimulated the movement
tennessee Coal and Iron sold down at
the opening on the marketing of a few
hundred shares. but rallied sharply for a
gain. of IL per cent from its low level.
Later trading was somewhat more ra-
tional. but mainly but little improved from
Yesterdays average price. The profits Of
the company are thoroughly satisfactory
to the larger interests, and on a broader
market the stock Is expected to more fully
reflect actual conditions.
The days transactions in railway shares
were void OF significant feature. The res
igr alton of the Northern Pacific receivers
was expected to have exerted an unfavora-
pary, but the narrow operations in both
the common and preferred stock were al
most without effect.
Rumors of an important alliance with
opposing interests added new strength to
the advance in Distillers the final dealings
In the property being the most liberal and
at the highest point of the day. The
street is generally bullish, with a mod
crate reactionary sentiment, due to the
continued Withholding of a public demand,
and ventures on the long side are recog-
nized as being least hazardous.