Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-09-17
Rates for Foreign Exchange More
Satisfactory.
A GREATER SUPPLY OF BILLS
Not Up to the Demand and More
Gold to Be Shipped.
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star
NEW YORK, September 1.-THE course
Of prices this morning was mainly In the
interest Of improved values, but little new
business was attracted. The condition Of
the foreign exchange market is slightly
more satisfactory, further concessions in
sterling rates being announced during the
day. The supply of bills, while improved
somewhat. is not fully up to the demand.
as the engagement Of half a million gold
for export tomorrow attests.
Yesterdays purchases of stocks for Eu-
ropean account brought in a small amount
OF security bills. but the meager volume
OF buying for that account this morning
does not justify a belief in the permanency
Of such offerings.
A rumor, circulated during the room
hour. to the effect that the local banks
would deposit round sum of gold at the
ly followed by n traders rally Of liberal
proportions. 1t is not likely that the banks
Will deposit sum equal to general expec-
tations as the gold scare practically never
invaded banking circles to the extent re-
Elected in speculation, and Is consequently
regarded as a temporary emergency, which
Will shortly be provided for by natural
CONDITIONS. However this may be, reac-
lions In the stock market will ensue from
any pro!ongation of the gold efflux and
rallies will follow hard upon the announce
ment that the federal gold reserve has
been rehabilitated by the artificial device
OF changing the custodian of the local sup
ply.
The best evidence obtafnable seems to
point to the fact that the more aggravating
features of the movement have been over.
come and that steady recession from
now on.
The coal shares were strong throughout
the morning on purchases inspired by the
prospects OF further advances in coal rates
Jersey Central was the feature of the
group at gain of IA per cent, a small
feet the advance. The street inclines to
the opinion that settlement of the coal
differences will be the basis for the next
general advance in stock values
Tennessee Coal and Iron was advanced in
Smpathy with the steadily growing belief
in the future of the iron Industry. The
piohts OF this company are attracting the
attentiO OF the more active speculative In
terests. and an early return to normal
speculative conditions would, at least. re-
store last weeks best figures If not ma
terially improve them.
The granger shares with the excenston
OF ROCK Island, which Jagged consider
ably. were fractionally improved under
Duying by the room for both accounts.
reduced largely on the advance of the last
Two days, and further improvement must
De based upon more substantial grounds
chicago Gas advanced "a per cent under
a good volume of business from sources
Identified with the recent action of the
property. and the usual following of pro-
fessionals.
The reported engagement of 10000 bales
OF cotton Tor export had good effect on
values during the afternoon, as such action
was regarded as the forerunner Of a move
ment which will speedily solve the gold
problem.
The days developments, while in the
main favorable. were not instrumental in
increasing the public demand for stocks,
This desirable addition to the arguments
for improvement is conspicuously lacking
and suggests the probability of an eariy
reaction upon the professional elements
realizing that the demand is restricted
The setbacks of the near future are not
likely to be either important or prolonged.