Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-09-23
FINANCE AND TRADE
Supply of Commercial Bills Per.
oeptibly Increased.
SELLERS OUrNUMBER TEE BUYERS
What the Banks Are Expected
to Do.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, September 23-Advances
varying from " to Y per cent were reelected
In today's opening prices and were subse-
Quently improved under a small volume of
business. London cables reported frac-
tional concessions in the more active Amer
lean issues, but the insignificant character
of the foreign commissions prevented them
from exerting an adverse influence OF local
values.
The dissolution Of the bond syndicate was
generally admitted to be a strong opti-
mistic argument, but the public interest in
speculation is too small to fully reflect the
Importance of such action.
Tie market for foreign exchange was dull
at IA per cent reduction from last weeks
final rates.
The supply of commercial drawings was
perceptibly increased, sellers of exchange
outnumbering the buyers for the first time
in many weeks.
Should any emergency arise prior to the
assembling Of Congress the banks are ex-
pected to render the treasury all the as
sistance possible in preventing any material
reduction of the gold supply AS a factor
in speculation the gold problem has, in
consequence of this assurance, lost many
Of its apprehensive features and will for
the balance of the season be suboroinated
to the more usual speculative influences,
particularly official reports of earnings and
future prospects.
Holders of the better class of securities
are perfectly willing to have the value Of
their foldngs appraised en- the latter ba-
sis, believing that current prices would be
found inadeel ate.
The railway shares were in a large meas
ure neglected this morning for the several
industrial specialties which figured proml-
nently in last weeks trading. Chicago
Gas was bought literally for an additional
adj of fhn isrir
the advance continuing to be the most con-
Spfcuo US Pill chaseIs.
The extent of the recent advance In the
price Of this stock is sufficient incentive to
cautious trading above the present level
An advance in the rates for refined sugar
was followed by a brisk demand for Ameri-
can Sugar. which added 34 per cent to
initial figures.
Northwest reported an increase of nearly
$s2O.oOO in August earnings. and future re-
pcrts are expected to show proportionate
improvements. st. Paul is relied upon.
he wever. to reflect the best showing of the
Granger group du ing the fall season, as the
cor ditions necessary to insure such results
are already said to exist.
the trading Of the last hour was I'M
changed in character, although prices were
Improved somewhat from the low level
recorded at midday. Local sentiment is
strongly in favor Of general advance in
values Immediately upon the revival Of ac-
tive commission operations.
The professional device of bidding Up
prices in order to attract public attention
and induce new buying has been 81 signal
failure up to the present time A moderate
concession would in. ali probability prove
more effective.
An advance in money rates is depended
upon to stimulate activity by attracting
new capital into this market and turning
the tide Of gold in our favor. While the
upward movement in values may be more
deliberate than was at first predicted, the
weight Of argument is strongly opposed TO
any significant or prolonged setback from
the present estimate of values.