Evening star., 1896-10-08
Manhattan and Sugar Prominent in
Early Dealings.
RUMORS OF MORE GOLD IMPORTS
Paying Assessments on Reading
Securities.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, October S.-Liberal sales OF
long stock characterized the early trading
in today's stock market the wisdom OF
an ante-election curtailment of liabilities
having become ger eral among prudent op-
orators. Sugar and Manhattan, the ac-
krowledged leaders of the recent market
movement, were especially conspicuous dur
ing the early period Of liquidation. The
weakness of the foreign exchange market
served to stay the decline in prices later
in the day and inspired moderate purchases
for both accounts
The withdrawal of fl00.Oyo from the Bank
OF England for import and rumors Of pend
ing negotiations for the withdrawal OF
s.,oOoOOO additional had q beneficial infiu-
enc- on prices in all departments.
An effort on the part Of a combination of
local insurance companies 10 import s5."s.-
900 gold was announced during the after
noon and Immediately followed by
general bidding up of prices In all parts OF
the active list. A good supply OF COM
mercial bills is reported, and the demand
from remitters is not sufficiently urgent 10
make an edvance in exchange rates inn
rlediately probable
The activity in the money market rs be-
leved to be largely due to the providing
for the payment of the final installment or
the assessment on Reading securities, due
tomorrow. The payments are 10 be ma lie
by the underwriting syndicate AMI ihe in
dividual demand for ma3ey for similar
purposes, amounting in all 10 sonnet hing
mere than $1o.e0,esD, would naturally be
reflected in loaning rates. A recession in
money rates during the afternoon was con-
| strued as indicating the successful reso-
tiation OF loans for this purpose.
Traders bought moderately on this pros
pect and forced prices beyond the opening
level
The lack of outside interest continues TO
| be a conspicuous feature OF the daily tran
sactions, but the narrow radius of fuciHa-
| tons during a period OF reaction can be
explained only Oh the ground that prices
| are being supported 10y strong financial in
terests. The market is a political one at
| bottom, and will hold Well during the con-
| tinuance Of encouraging assurances as to
the prospects of a sound money victory.
4 Any very grave misgivings on This point
i would find prompt reflection in prices under
present conditions.
1 The best opinion of the immediate specu-
| lative situation seemed to be that while no
| occasion for selling existed the induce
| ments offered for voluntary participation In
| the market were extremely meager. Ii is
| encouraging to note, however. that reliable
| authorities not biased by speculative COM
| mittments are rather optimistic than other.
| wise on probable developments
| The buying by traders as the result OF the
| prospects of further gold imports was con-
tinued during the final hour. Prices dur
ing the period reflected. in many instances.
| fractional net gains for the day. Money
| rates declined from to per cent, and the
4 uncertainties in the political outlook were
/ diSregarded under the influence of favor
| able routine developments.