Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-09-16
London Sold International Securities
Literally.
NEGOTIATING FOR GOLD FROM FRANCE
Rumors of the Bombardment of
Constantinople.
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star.
NEW YORK, September 16-From an
opening level about en- a parity with last
nights closing prices today's stock mar
ket yielded for substantial fra ctional con-
cessions as the result of continued sales
by the professional element Fears Of an
advance in the Bank of Englands discount
rate tomorrow were largely esponsible for
the decline. Careful inquiries as to the
PROBABILITY of such action disclosed the
1act that the larger foreign houses
relying upon the continuation of the aIe
per cent rate established last week
London was a liberal seller of interna-
tfonal securities, however particularly St
Paul. an attitude Indicating apprehension
at that center TO the future course of
the money market.
The engagement of f2O3,O0 for export to
this city. and similar engagement for
Boston consignees were announced during
the morning, and were regarded pos
sible incentive to renewed efforts to pre-
vent further irroads on the foreign gold
supply. Negotiations looking to the i'm
por tation of fJE,1u directly from France
are pending, with encouraging probabilities
OF successful termination.
The announcement of new contracts of
this character indicates the previous pre-
sumption that no ordinary advance in for
eign money rates will curtail the total i'm
portations as originally agreed upon by
local bankers
Unconfirmed and seemingly unjustifed
rumors of the bomba rdment of CONSTANT
nople by the Britis. feet attracted a raid
from the trading element during the after
noon which resulted in establishing the
days lowest level of values Large lines
Of short stock were noticeable factors IN
the depression. Operators active yester-
day were again conspicuous in Offering
stocks all around the ROOM
The weakness Of American sugar Incl
dent to the closing of the books for the
quarterly dividends, had an adverse in
fuence on the general market. From the
liberal proportions of the movement in this
property the room was disposed 20 regard
the upward movement as having been ter
minated, and the manipulatiye machinery
put in operation in The interest of 4 new
| low, anti-election purchasing level The
railroad list, owing to an extremely in
significant volume of business, declined
slowly and. in most instances, not beyond
| fractional limits.
Full-point fluctuations We're recorded in
several of the more active issues, the re
luctance TO buy being equally responsible
with the pressure to sell Dizziness would
have dominated values in all departments
had routine and legitimate factors alone
been considered.
Money rates fiuctuated between 81 and .
per cent under d moderate demand. Spec
ulative demands for money are not expect
| cd to assume significant proportions for
| the time being. owing to the prolonged
| waiting period ahead.
The market rallied slightly during the
final hour on the covering of room con-
tracts. Sugar leading the advance. No i'm
| portant new undertakings were reported
fiom any source and period Of incense
| 1Lcniial trading is generally regarded as
| being the mcst likely development of tn.
| present doubtful situation.