Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-11-11
Depressing Influence Of Lower London
Prices.
RUMORS ABOUT SPANISH RELATIONS
Used to Check Advances in Ameri-
can Sugar.
GENERAL MARKET REPORTS
Pee!al Dispatch to The Evening" Star.

Special Dispatch to The Evening" Star.
NEW YORK, November 11.-Under the in
fuence of lower London prices AMI some
selling for foreign account, the local secur-
lily market opened at a fractional decline
from yesterdays final figures. Traders sold
stock In the interest of lower prices. but no
sisnihcant reduction of actual holdings
was recorded outside of the room
After the first hour the market became
irregular, fractional gains and losses being
about evenly distributed throughout the
active hst' In every instance the days
fluctuations favored tha low-priced shares
Ncr.herh ia chic preferred and American
spirits each attracted a good volume Of
speculative buying
The grange shares were somewba, i'm
Inherently supported around the openinp
level VIC 'oehins
The declaration of the usual quarterly
uiviaend on burlington and a decrease of
*ian,3io IN st. Paufs earnings for the first
week In November were the only important
routine developments in this group of
stocks. An advance of Is per cent in r.
iihed sugars was announced early i'm the
DAY, Out the stock of the American com
pahy continues to be unresponsiye to the
natural tendency of tie general market
ne oaily Repetition of unreliable rumors
rtiaute 10 our diplomatic relations with
opalh serves to check aLy extensive ac-
emulation of this stock Recent rumors
nave charged Spain with being on the
verge oil making a hostile demonstration
against this country, but the monotony of
this fabrication inspired the author to
substitute for IL today the announcement
that the President viii issue a proclama-
ton late this afternoon recognizing the
belligerency Of the Cubans Curiously
enough stocks We're sold and yielded easily
TO the new device.
The declines in the general list were TAX
en- advantage of by commission houses to
NK TOO 20 rflnr "a.
traders reaction The conviction that the
market will teLd toward a higher level
and the difficulty to buy In short stock at
profit is generally conceded to insure
improved prices as the volume of business
increases
The annual meeting Of the Manhattan
railroad for the election of officers and the
discussion of the future policy of the man
a4ement was an event of unusual interest
In speculative circles. The morning ses-
sion was extremely brief, no discussion of
the proposed changes in the motive power
having been undertaken prior to the adj
tournament. The report of earnings SUBJ
united for the year ending September 20
Reflects a net decrease of $751; and n
fund.
the injurious effects of modern surfaoa
competition is shown by a reduction of
4.HD.UO in the number of passengers car
ried during the year The earnings of the
company applicable to the payment of tjiyi-
oends Is shown to be about 4o1 per cent
against 463 last year and 6s in 1894 The
continuation Of per cent disbursements
VIII necessttate radical changes In the COM
panys motive power. a reduction of ex-
penses and the regaining of fair propor-
ton of its dividend traffic
"A rumor announcing the death of Mr.
Cornelius Vanderbilt gained some Gre
dence during the first hour and attracted
Moderate selling by the room. From the
character of the devices used to depress
prices the inference Is natural that the
short interest In the market is now prac-
ucally convinced Of the meager chances
Tor profit in that account The recovery
from the present level is therefore likely
to be prompt and the direct result of COW
ering purchases forced by the who,esale
Genial of the several rumors used.