Evening star., 1896-09-22
Selling to Realize Profits Caused a
Decline.
CONSPICUOUS ACTIVITY IN READING
indications avorable for Continuous
Receipts of Gold.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK. September 22-Political dis
tUroances in Europe and the attendant de-
probation In the London market had an
adverse influence On local prices this morn
irg. The opening level was about on a
parity with last nights closing figures. but
almost Immediately gave way to profit
taking by the room element Manhattan
yielded easily to selling OF this character
but the extent OF the decline did not extend
beyond the limits Of reaction. Activity
IN Reading was ore OF the most conspicu-
Gus features of the days developments.
Good buying by the reorganization inter-
ests was noticed throughout the day, the
stock advancing steadily in opposition 10
the general tendency of the market
In addition TO the favorable progress of
The REORGANIZATION, IL is probable that Sig
nificant changes in trade conditions are
being anticipated. The buying is generally
conceded TO be the result of confidence in
the outcome of the political situation. the
movement having been delayed pending
more definite advices on this point.
Sugar and Leather preferred We're the
active members Of the industrial list. the
fcrmer yielding 30 sales for both accounts;
the latter advancing under profitable
changes in the sole leather market.
The volume of business was again con-
lined principally TO the professional ele-
mert except in a few instances IN Whlcn
special forces We're operative.
Tne engagement OF flgj.W1 gold at the
Bank OF England for export TO the United
States was announced during the morning
| Indications continue favorable TO almost
continuous receipts from abroad for sey-
| cral weeks at least.
Tie loaning rates for call money refierted
| an easier tendency in that market and ,n-
| couraged the belief that monetary difiIcul-
| ties are being rapidly overcome.
| Time money accommodations are not 10
| be had with the freedom necessarily in
| c!deHt to a prOtracted period Of advance
meEt. The availability of miscellaneous
securities must be es stah.ishcd and a ma
| terial shading IN rates must follow bcfore
! anything approaching wholesale buying is
| recorded in daily market developments
! There is a noticeable disposition on the
| part Of some of the larger traders 10 or
| ganiZe pools in certain properties. especial
| IL those favored by conservative investors.
| These efforts have been prevented from
| going beyond the mere organization stage
/ 10y the uniavorable condition Of the money
| market.
The gold coming in from Europe may
| shortly extend its good Influences so far as
TO re.noy. the present ira backs to imme-
| date stock accumulation. An ante-clcc-
| ton rally Of considerable proportions would
! follow. in the hope that subsequent satis-
| faction with the result would afford pro-
| fitahle opportunity for realizing Accept
| ing this view of the sitaatIOn the month
preceding the election shoYll lereiop more
activity than the month following.
| Political sdgacity has been added to The
| usiomary financial arguments in con ..:l.s-
ing the average operator that such course
| is probable, in view OF its cffert on Tie
| sentimental voter
The trading of the last hour was "eac-
tionary in lis general tend G-ncy, ui.fayOr-
aHle London cables continuing 10 Inspire
selling. The situation would seem TO lie
such as 20 encourage preponi"raa1e Of
buying al the decline.