Evening star., 1896-11-19
FINANCE AND TRADE
Purchase of Reading in LargeAmounts
Attracts Attention.
MANHATTAN ADVANCED ON RUMORS
What is Looked for at the Com
ing Session of Congress.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, November l9.-The opening
of todays stock market was dull and fea-
tureless. prices ruling around the level
tablshed at the close of yesterdays busi-
ness. London bought moderately during
the early trading, and traders operated
both ways for small profits. The volume of
commission buying was small. but served
TO demonstrate the extreme OF confidence in
circles not under the constant influences OF
the tape. The professional room element
relying on adverse developments in the Gu
ban campaign, and the Withholding of sup
port by strong interests, lis gradually eN-
tending the short account.
This account may be made an object of
special attack In the near future. and
should force sharp recovery. Notwith-
standing the hesitancy of the general
market there would appear to be no good
reason for abandoning the presumption
that the largest opera tions now in prospect
will be favorable to prices.
The buying of reading securities during
the day attracted some attention because
OF the size of the individual transactions
The price OF the stock responded easily TO
the new acti rity. traders assisting the
advance Should the reorganization inter
estS again become active in the property, a
general demand would undoubtedly be at
tracted as the result of the successful rec
ord for similar enterprises now held by
such interest.
Manhattan was advanced sharply during
the forenoon well-dstributed advices
of mysterious favorable developments Few
OF the really desirable privileges not en-
joyed by this property have been over
looked Of late, series of rumors granting
all demands having been circulated at OPP
perfume times during the past fortnight.
The price of the stock responds easily
enough, but recent figures are never per
manently obscured. and until they
something more than prediction will be
necessary TO attract any significant de-
mand to the property
American Sugar sold down 1ls per cent
under a good volume of business. All
sugars not included in yesterdays reduced
rates were reduced Is this morning. The
present movement IN the stock is confined
largely tc the room. where sales are in
spred by the belief that inside interests
have taken profits in long stock and will
not repurchase at the present level The
| customary dividend movement is to be re-
| lied upon. but the time for activity on the
| dividend prospect is sufficiently remote to
| admit Of a profitable decline as condition
| precedent to a profitable advance.
The declines recorded In various parts of
the railroad list were in the main confined
within fractional limits. and the
suits Of cor siderable effort. The market as
whole has few Of the earmarks of weak
ness, only receding because neglected. IL
the holiday season is as busy one as sur
face conditions would indicate. the stock
| market is likely to attract the surplus
! profits Of the commercial world.
Recent expressions credited to influential
members of Congress all tend to Indicate
a disposition to DO nothing al the coming
| session which could by any possibility he
/ construed into arguments adv VerSe to
trade revival. A court eous consideration
/ for the new administration may assist in
the overlhrowing of radicalism al the next
session. This prospect. while accepted in
a general way, is subject to the usual quota
! of exceptions. and among these the trusts
| are classed.
IL Will be difficult TO pass corporations of
this character without notice. il recept
oratory on the subject is any way binding
! urcn its authors Fortunately the effect of
I such action will be confined for the most
! part to speculative circles.
/ The market for foreign exchange is re-
/ ported to be shade frmer. under an in
! creased demand and the absence OF cor
I responding increase in bills. Money loaned
1 freely at 3 per cent during the day and in
| terest rates are no longer a significant fac
tor outside of banking circles.