Evening star., 1896-09-29
Low Prices Make a Weak Start in
Today's Business.
LONDON REPORTS ENCOURAGED SELLING
The Whole List Participates in the
Movement.
TODAY'S RATIONS
Special Dispatch to The Evening Star.


NEW YORK, September 2s-Lower
prices in the London market encouraged
some selling by traders during the first
hour this morning. but beyond the estab-
lishment of a weak opening level the
movement was unsuccessful. The lower
prices served only to increase the demand,
the early declines yielding to net advances
varying from 1 to 2a per cent. The vol
ume Of business was well distributed
throughout the list, the Granger roads re-
spending more easily than their neighbors.
The sharp advance in Burlington was
somewhat inconsistent with the figures of
the August statement, but was simply an
other instance of the erratic action of a
continental market The recent rate war
along the lines Of this property was relied
upon to attract an increased traffic which
would more than Offset the declines in
carrying charges.
The predicted increase in gross receipts
SO liberal in some instances that a
small increase in net became proba bility.
The actual figures, however show de-
crease of $117,SS0 in gross for the month
and a net decrease OF $33.3'3. From the
figures of previous statements 1t may be
seen that in order to show the actual earn
ing of the present dividends an increase
equal to the combined figures above men
toned would Ire necessary for every month
of the fiscal year yet remaining. Confidence
in the well-known recuperative power of
the company well as confidence III
political developments resulted in pur-
chasing Cvement which added ~ per
cent to the initial price of this stock.
The buying, as on previous days, was salh
to be or a character quite above the aver
age. Rock Island and ST. Paul were in
good demand at substantial advances,
favorable prospective developments in each
overcoming the natural effects of disap-
The
the leadership of Reading, were in fair
demand, as the result of an encouraging
business outlook. The strength of the
| property named is undoubtedly encouraged
by the reorganization interests in order to
| facilitate the payment Of the final Install
ment of the assessment
The action of American Sugar was
again subject for considerable COM
| ment, its strength being decidedly less
| marked than the movement in the railroad
| list would reasonably have justified Above
| 1l2 the selling Of the property was superior
to the buying, Notwithstanding its naturally
| strong market position.
| Encouraging assurances from gold inn
| porting houses to the probabilities OF
| future importations had an important in
| fuence on the course of prices. The salts
| factory outcome of yesterdays settlements
| in London and increasing inquiry at thai
| center for American securities are factors
| likely to find substantial reflection in loca
| values. Should present estimates as tt
| the probable amounts of incoming gol,
| prove correct, the federal gold supply viii
| cease to be an ohject of concern, if not OF
| speculative interest.
| Money rates continue to graVltate Slowly
| toward satisfactory borrowing level.
| Realizing sales feature of the final
| hours trading. prices yielding fractionally
| in consequence The main features of the
market were unchanged during this period
| the strong undertone being unniistaha hle
in spite of the traders willingness TO take
profits.