Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-01-03
Trying to Sell Stocks for London
Account,
NOTHING ENCOURAGING IN THE STREET
Decreased Earnings of CoaIers and
Changers.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, January 3.-At the opening
of today's stock market there was nothing
at all promising in the outlook for improve
ment. London was uniformity lower and
wanted to sell on this side. St. Paul earn
fngs for the fourth week of December re-
f1ected a decrease of 1882 623, and there
was practically no non-professional bust
ness. This combination of influences re-
suited in fractional concessions from clos
ing prices, especially in the grangers. The
decline having extended to the limits Of
one-half per cent, a general covering move
ment ensued, In which prices were advanc-
ed for gains equal to the amount of the
early loss. Burlington at the close Of the
noon hour reflected a gain Of 1 per cent
from initial figures, and ST. Paul and
Northwest gains OF 5-S and IL per cent,
respectively.
Jersey Central was conspicuously lacking
in raliying power, owing to the continuous
pressure Of stock throughout the morning.
decline OF 23-4 per cent was recorded be-
fore any support was given the stock The
selling was accompanied with the usual
rumors relative to decreased earnings and
q possible reduction in the dividend rate.
The condition of the coal trade is unim-
proved and the trading element have con-
sequently renewed recent predictions OF
lower prices in the group Of stocks directly
tive features of the railway list were frac-
tionally responsive to the prevailing ten
dency in the stocks mentioned above.
Sugar was the feature of the Industrial
group, opening weak at a ID point reduc-
ton, but rallying sharply on stop. orders
and room covering.
Chicago Gas yielded to moderate selling
movement for which houses with Chicago
connections were largely responsible. The
larger holders of these certificates We're not
concerned by the selling, owing to the
limited character of the movement. The
Losition of the pool is therefore unchanged
and higher prices are expected to follow
me re settled speculative condition
The market for foreign exchange opened
steady on a small volume OF business. me
inquiry from remitters was only moderate.
" hich served to Offset the small supply
of bills. 1t is probable that gold shipments
equal to the amount OF today's effiux viii
be made by Saturdays steamers, although
no accurate estimate can as yet be fur
nished.
The currency agitation is the leading
topic of discussion among bankers. and
the opinion obtains that the scheme now
under consideration will be defeated by a
round majority. Several substitutes have
been suggested. but from present indica-
ticnS the consideration OF them VIII De
left to the next Congress, probably assem-
bled in extra session for the purpose.
The device of issuing bonds in any emer-
gency is not likely to meet with either the
approval or cooperation of eastern imam
ciers the necessity of more radical meas
ures being recognized.
The trading in the last hour was the last
of the day. owing to the sudden conversion
of a prominent bear operator 10 the oppo-
site side of the market. The theory OF the
room was that advance information on the
pooling bill was responsible for the sud
DEN closing out of short contracts and the
liberal purchases for long account As
previously stated. the result Of the passage
of the bill by the Senate is likely TO be
sentimental and temporary advance in val
iles Final sales in a majority of instances
reflected moderate net gains for the day.