Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-10-10
FINANCE AND TRADE
Increase in Loans Shown by the
Weekly Bank Statement.
HEAVY SALES OF READING SHARES
Speculative Buying of Sugar Ad-
vances the Price.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star.
NEW YORK. October 1o.-Opening prices
this morning reflected fractional advances
in many instances. notwithstanding disap-
pointing quotations from London and the
continued absence of interest on the part of
the larger operators. Liquidation OF long
stock became apparent during the opening
hour, and with the exception of a moderate
rally on the publication of the bank state
ment, a significant factor up to the
close of business.
Heavy sales Of Reading. resulting in a de-
cline of "a per cent, were reflected SYM
pathetically throughout the entire railway
list. The selling of the stock was confined
to few brokers, and is supposed to repre-
sent profit-taking on purchases made in an
ticipation Of the customary anti-assess-
ment rally.
Manhattan yielded to continued selling
for 10th accounts. the determination to
advance the price having apparently been
abandoned for the present. The selling
of ST. Paul by brokers usually I'm the EN-
ploy OF the Monetary Trust resulted in a
general reaction throughout the granger
group.
Speculative buying of Sugar in round
amounts resulted in advancing the price
PA per cent. but the movement was not
of a character warranting confidence I'm
its dun ability. The large inside interests.
whose wishes govern the manipulation of
the stock as thoroughly they do the
wholesale rates for the manufactured COM
modify, are always 10 be considered by
operators in this property.
The present movement is Lacking in many
of the well-known Indications of activity
on the part OF the management. 4 re-
duced short interest. speculative purchases
by traders only and the Indifference OF
experienced operators are factors worthy
Of careful consideration al this time.
Chicago gas declined under moderate
lis4E sod no Of
politics in Illinois The present state adj
niinstration has been strongly opposed To
the various consolidation schemes propose
by the ma Eagement Of the companies End
IL is by no means certain that possible
changes will Ice more satisfactory in this
particular. Until the latter fact is fully
demonstrated however, the change would
find favorable reflection in the market value
Of the stock.
The engagement OF s.. 10000 at the Bank
of England for export to the United States
was the most satisfactory development of
the day.
The shipment of coin to interior points
during the week, as indicated by the week
ly bank statement, have been barely offset
by the receipts Of specie from Europe. the
actual gain in lawful money being only
Sll,nD. An increase of S;,221,po in loans is
the most satisfactory feature of the state
ment, indicating, as IL does, a growing
liberality on the part of the banks. An in
crease Of s3.5il, 2t1 in deposits is easily ac-
counted for In consequence of the loan eX-
tension, and reduces the reserve only ST.
CO. ,oD The total holding Of lawful moncy
is as large il was one week ago, not
withstanding the reduction in reserve 10y
| reason Of the increased deposits.
Political Influences are expected to over
shadow all routine developments for the
| next fortnight. and unless dives:ed OF
much Of the present uncertainty. oanno;
reasonably be relied upon to est abliSh "A
| higher speculative level.