The sun., 1896-09-24
LArnsr Lorpor QUOTATIONS.
"WEDNESDAY. Sept. 90.

"WEDNESDAY, Sept. 20.
There were only two noteworthy movements
IN the stock market to-day, one in Sugar Renn-
Ing and the other in Reading. The fret named
supplied nearly third of the total dealings,
which were somewhat larger than yesterday,
ana, In spite OF midday rally, II closed little
more than point lower than yesterday. Tho
action OF the market for Sugar Refining since
the beginning of the week strengthens the view
that long stock 10 constantly hcing marketed.
The advance In Reading that began yesterday
was continued to-day. and although tho price
reacted nearly point from the highest figures,
. net gain of cent. was recorded
The revival OF speculation In Reading was gen.
orally attributed to tho acquisition Of the prop
erty to-day by the reorganization committee
Until the sale under foreclosure Of the general
mortgage was actually made there was no tell
ing what legal or technical obstacles might not
DO imposed to prevent II. The ompletion of the
reorganization 10 now largely matter Of rou-
tine and detail. These circumstances to-
Rether with expectations OF a decided improve
ment In the earnings of the Reading Company
resulting from the more satisfactory condition
OF the anthracite trade. may sufficiently ac-
count for the revival of speculative interest In
the stock. A strong impression prevailed in tho
Board that those who have undertaken the re-
organization OF the Reading companies were to
an extent responsible for the rise in tho stock
and they certainly might, with propriety. have
had something to do with II, for until q few
days ago Reading was selling for barely tho
amount Of the assessment paid in. The fourth
and last installment or the assessment was
promptly called to-day soon as tho foreclo.-
ure sale was concluded.
The stock market as q whole was Irregular,
and though net fluctuations were az rule un-
important, tho maximum variations In the ao-
tive stocks were sufficiently wide to stimulate
trading. Tho Street devoted q good deal of
time to discussing the probabilities of an ad-
vance In the Bank Of Englands minimum rate
Of discount tomorrow. The professional ele-
ment on the Stock Exchange appeared to re-
gard an advance as certain. and was bent upon
discounting the possible effect of q change upon
the London market for securities. and possibly
upon the imports of gold from London. 1t is
doubtful whether an advance in the Bank rate to
3 2 cent. will have more than a tenn mporary effect
in either direction. 1t has been moro than half
expected for two weeks past, and traders In Sc
curties, both here and abroad, have made their
ventures upon that basis. 1t may shift the
Withdrawals Of gold for export to this country
from London to Paris. as the last advance in
the Bank rate did but the Indications are that
London will, as heretofore, have to supply tho
greater part OF the specie required to settle the
trade balance that is at present running in favor
OF this country.
Now that tho money market has begun to
work easier foreign bankers are looking for the
resumption Of mercantile remittances abroad
at no very distant day. Remittances of that
character have practically been suspended since
the early part of August on account of the Ina
bility Of merchants ana importers to secure ac-
commodations at living rates. or at any rates at
all. 1t is believed that quite volume Of o6li-
cations have accumulated during the last six
or eight weeks. and, besides, 1t is known that
q fairly largo amount of credits will
have to be settled next month. 1t Is
believed. therefore. that even rhould the
supply of commercial bills continue upon the
present scale. they will be needed to Offset de-
layed remittances. and in consequence there is
likely to be . diminution in the import move
ment of specie. At the moment, however. there
are no signs OF it's falling of. The Bank of
England sold to-day Sl.4oo.oo0 In American
eagles for export to this country. Tho total
movement Is now computed at $40. .657. 500.
Final sales compare with those of yesterday
a. follows: