Evening star., 1896-10-07
Dullness Dominated Dealings in Rail-
way Stocks.
RUMORS OF MORE GOLD IMPORTATION
Reports Of a Rival Depressed
American Sugar Shares.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, October 7.-Opening prices
were practically irregular this morning ow-
ing to a lack of interest on the part of both
local and foreign operators and the increas-
ing uncertainties of the presidential cam
paisn. The railroad list was given over TO
dullnoss, the routine news of the day being
largely confined to the industrial shares.
Rumors OF an engagement of an additional
sl.1T,"1 gold for import inspired confidence
in the bette class of securities, but no sig
nificant advances were recorded.
Traders were practically unassisted in
determining values, the conservatism of
commission houses having extended to the
point of inaction. The presen: halting at
titude of the security market is perhaps
the most logical condition exhibited in
several weeks. Facts are displacing son,i-
ment, and as the domination of the former
increases confidence in the wisdom of stock
accumulation decreases. Pru uience wSuld
suggest the postponement of activity until
the risks reduced to a minimum. not
withstanding the extra outlay involved 10y
the decreased hazard.
From the character of the days trading
in Manhattan a. was argued that the in-
terests heretofore identified with the ad-
yancing movement had begun TO realize
on early purchases. The proposed change
in motive power. however Advantageous TO
future sharch FOLDERS. cannot be accomplish
ed without the expenditure of large sum
of money, and the immediate Deaent TO
prcse nj holders is consequently not APP
parent.
The delay i'm making the change is also
contributing directly 10 the strength Of
the opposition lines, and the mCch-talked-of
consoli iauon contract, should IL ever ma
torialze. is liable to be dictated by a one
time iTCOnSeQuentiai rival
American sugar,
partly due TO unfaVoraDle trade conditions.
was materially assisted by runors of the
probable building Of an opposition refinery
by well-knCwn firm Of coffee importers
RLmors Of this character have been IN cir
culStion for several days, but for the nrst
time traceable to responsible sources.
The new refinery will supply the demands
OF one of the American company'S largest
customers. but the occupation of the field
by the old company, coupled with the re-
organized ability of its management. are
considerations worthy of careful considera-
tIOn.
The meeting of the directors OF the
American TobaC co Company and the subse-
qGent announcement that only trade con-
ditions would be considered caused some
realizing on early purchases.
The sock had been bought in round
amounts during the morning the pre-
sumption that some action TO a dividend
on the common stock would be taken.
The orgd niZation OF a new gas company
10 protect th. interest of Lacle ie gas In the
event of an adverse decision in the case
now pending in the Supreme Court
nounced during the day. The stock was
given good support on this announcement,
but failed to become active.
New York Centrars report Of earnings for
the month of September reflects a decreaIe
Of s.. 40. increasing the total decrease since
July ! to Ssio.'a6. In a majority of instan-
ces earnings continue to be uusym athletic
with speculative sentiment.
Prices yielded during the final hour to
professional selling. the lowest level of the
day being recorded during this period.