Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-09-18
FINANCE AND TRADE
Rumors Of Gold Shipments Make
Spectators Cautious
RAILWAY OFFICIALS ARE ENCOURAGED
The Outlook Points to a Profitable
Season.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. September 1S.-Cpenins
prices were uniformly higher this morning,
but in majority of instances the volume
of business Mas not equal to sustaining
the advance. London's early cables re-
fected a Slightly improved tone in the for
eign market, but brought no important
business to this side. The foreign ex-
change market was dull at yesterdays
final rates. with improved offerings of cot.
ton drawings among the more important
features. The supply Of security drawings
has practically been exhausted, and az
foreign houses have no further commits
sions for foreign account. relief from that
source Is not Immediately probable.
Rumors of an important engagement of
gold, aggregating at least two millions.
while lacking absolute confirmation. we're
considered sufficiently reliable to warrant
extremely cautious trading In the present
eXcitable condition Of the market. Some
smaller engagements We're announced DUR
ing the day, and while unimportant in
themselves, demonstrate the unsatisfactory
exchange situation and serve to increase
the bewilderment of the speculative public.
The sentiment of the street is unmis-
takably in favor of higher prices. but with
the disturbing Influences of an undesirable
gold movement in the ascendancy, there
Is little disposition to utilize the argu-
prosperity now apparent throughout the
country. This latter condition, however.
will serve to prevent any radical depres-
sion in values and when augmented by
normal exchange rates in the near future
will force sharp recovery of recent losses.
The reports Of earnings submitted during
the day were. In the main. substantially
improved over the same period one year
ago. Railroad officials generally are en-
couraged by the outlook for profitable
seasons business.
The movement Of the crops, while q
trif1e later than usual, will begin to figure
in q majority Of the reports made public
from now on, and will be the source of
important additions to tariff receipts st.
ss7. 900 for the second week of the month.
attracted some good buying to that prop
erty. Burlington and Rock Island sold
of per cent on a traders movement dur
In the character Of the buying stayed the
decline and forced partial recovery.
Pacific Mail and Chicago Gas were SUBJ
| Of Improvement, the latter property hold
ing its gain better than the former. Sugar
was strong on operations said to be for the
account Of a newly organised bull pool in
fined product continues active and further
advances in rates are considered probable.
The street, however, is still divided on the
correctness Of the bull position in this
stock.
The trading Of the final hour was re-
stricted to the room and was consequently
narrow and without significant feature.
Rumors relative to the gold situation were
plentiful during the period, but were too
indefinite to influence trading. The impress
sion prevails that a liberal outflow will be
reported at the close Of the week and that
70 complete reimbursement will be made
to the subtreasury.
The deposit of $4,000 in coin by a
Bro oklyn bank during the morning was ex-
pected to encourage similar action by the
financial institutions, but up to a late
hour this afternoon no such action was re-
ported.
The disposition to buy stocks on conces-
stems continues, but there is little eager
ness displayed, purchasers being fully ad-
vised of the necessity of some radical
change in treasury conditions as a condi-
ton precedent to sustained improvement.