Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-11-25
FINANCE AND TRADE
Declines in All Parts of the Active
List of Stocks.
CLOSING OF SUGAR REFINING PLANTS
Speculative Circles Discussing the
Dingley Bill.
GENERAL MARKET REPORTS

Special Dispatch TO Tie Evening Star.
NEW YORK November 25-Opening
prices this morning reflected fractional con-
cessions IN all parts of the active list ard
Were indfferently supported throughout the
day. The evening up OF traders contracts
over tomorrow's holiday prevented signif-
cant declines, but the volume of business
was not equal to sustaining adv ances.
Foreign arbitrdge brokers sold St. Paul and
Nashville as opportunity offered. and
bought only insignificant amounts OF inter-
rational shares
A decrease of s121515 in St Paurs earn
ings for the third week of the month. cou-
pied with previous decreases. operated
against improvement in the market posi-
ton OF that property.
A revival of the manipulation in the va
rious securities of the American Spirits
Company resulted in general advance,
but no really promising demand was re-
ported.
The bulk of the news items of the day
were based on the pending negotiations
looking to the exclusive control of the
trade by this company. Two propositions
have been submitted TO the independent
distileries in the west, but neither have
been accepted.
Some plan favorable to the parties in
interest is likely to be arranged in the near
future, II is said, and today's developments
were net construed adversely.
The closing of the American Sugar
filming plants for the usual repairs was
nounced during the morning. but the price
of the stock was not materially influenced
thereby.
The abandonment of the Dingley bill Is
being variously construed in speculative
circles, but as yet no market movement has
been undertaken as The result of this eX-
pressed willingness TO defer revenue legis-
lation until after the 4th of March.
In individual instances the delay is not
unsatisfactory perhaps, but the perpetua-
ton of a deficit In federal revenues is
wholly undesirable. The approaching ses-
nf ffarc
ment to enterprise of any character. Things
that are not done when an emergency re-
quiring positive action exists are a poor
substitute for the remedial legislation de-
manded Confidence in the ultimate en-
actment Of the desired legislation is the
one encouraging feature of the daily inter-
views reported from the slowly assembling
legislators in Washington
Board room traders who have no other
occupation are now in control of the mar
ket. and are depressing prices solely be
cause Of the inaction of interests capable
of important undertakings. Professional
scheming invariably terminates abruptly,
and. considering the prolonged period of
crumbling, a reaction should not be far off.
AS previously stated, however, the sug-
gestion in the presidential message and the
subsequent attitude of Congress must be
Invested Of doubt prior to activity on the
part of influential interests. The fluctua-
tions from day to day during the next
fortnight are not likely to continually ia
vor one account. Moderate changes on
either side of the present level will. in all
probability, make up what must temper
arily pass for a security market.
Underlying conditions are more favorable
tran other wise, and must eventually force
an abandonment of pessimistic views, but
the immediate market is one in which
traders only are in position to accumulate
profits. The trading of the last hour was
dull and void of feature.
Stocks bought during the morning were
sold out during the afternoon. and no COM
mission business Of consequence was re-.
ported.
Manhattan and Western Union enjoyed
the distinction of advancing beyond the
conventional fractional limits