Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-09-23
FINANCE AND TRADE
Cautious Operations Pending kdVicss
From England.
GOLD ENGAGED FOR IMPORTATION
Effect of the Sale of the Read
ing Road.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star
NEW YORK. September 23.-An attempt
to offer down prices during the early trad
ing this morning was thwarted so far as
material success is concerned, by the exc
cution of fair supply of buying orders ac-
cumulated over night Traders were sub
sequently liberal purchasers of the stocks
sold during the opening hour The volume
or the days business was not improved
however uncertainty as 10 the action to
be taken tomorrow by the governors of
the Bank Of England in relation to the
discount rate prompting cautious opera
tons.
A marked disposition on the part of the
Bank of France to force the burdens of
the geld movement upon London len is
cn.or to the presumption that discount rates
VIII b. advanced at the latter center The
rates for American eagles and gold bars
Rave already been advanced slightly with
cut apparent effect on the withdrawal of
import gold. The sale of f2S96rt in coined
GOLD was announced during the morning.
increasing the total importations received
or contracted for since the beginning of
The movement in August to nearly sln,.n-
ep. The importations toward the end of
the week. for which negotiations are now
rendiig, should increase the total slightly
beyond this amount.
An advance in the foreign discount rate
ana the attendant fears of tight money
market IL, London may temporarily en-
Dafrass the import movement but Il is
reasonably certain that the lo,ll money
market will be Il rther relieved ly sub
stahtlal additions TO present sp ecie hold
ings- The process is relieved from all an
pearances of artiflciality and is couse-
quently unusually encoura ging.
The sale of the personal property of the
leading railroad this morning for si.5pi.oo
coded 10 he an important step in The d.
recuon of successful reorganization The
buying of the stock was of the same gem
efai character as that noted YESTERDAY one
per cent ID ing added to the price on a lib-
eral volume of business The bonds of The
company. possessing as they do liberal
stock privileges under the new plan. wer,
| IN good demand throughout the ,lav
New York centrars report FOR the quar-
ter ending September 30 increases the
long list of unsatisfactory earnings on
current tra'hc. A decrease of sl1Su>l i'm
| the earnings for three months is reflected
| In addition to a decrease of S11I. 49, in IN,
surplus account.
| Uniform decreases in earnings in almost
| all sections Of The country, while d!sre-
garded at the moment hy professional trad
ers. are noticeably responsible. tor the with
! holding of outside support. The grain-car-
| iyiEs roads, OWING 10 their recognized re-
| q peratiNc abilities. suffer least from disap-
| pointing ShOrt-p.riGl reports. Relatively
| favorable sno~ings by this group of stocks
would consequently Ice passed over without
material erect on prices. The rumors of
pool operations in several active mem
| bers OF the group are consequently taken to
| Indicate confidence in at least a fair de-
| gree OF prosperity, as reflected in monthly
| reports.
The declining tendency of The market for
call money, loans being made from > TO 3i2
per celst. IL relied upon to find speedy re-
| iiection in easier rates for time arrommoda-
tons Satisfactory money rates arS no uu-
| favorable Developments in the political sit
uation would insure an important mary =;
| movement, especially remuner&tINe to ope -
| atioEs in the long account.