Evening star., 1896-09-28
FINANCE AND TRADE
Buyers Were Busy in the Midst of
Failures.
ON THE MAKE GOING AND COMING
Sellers Likely to Dip in on . Re-
purchasing Movement.
S 7. PAUL SHOWS LOSSES

Special Dispatch to The Evening Star.
NEW YORK. September pa moderate
increase in the demand from commission
houses resulted in fractional improvement
in stock quotations during the early trad
Ing this morning. London bought st. Paul
and Nashville during the first hour, but
later prices from that center were a shade
below the local level The fortnightly set
tlement had tendency to restrict the
volume of foreign business. rumors of
financial embarrassment being vaguely cir
culated throughout the day. This change
in foreign sentiment. coupled with an ad-
vancing exchange market, attracted real
izing sales by the professional trading ele-
ment. Declines varying from to | l-2 per
cent Were recorded In all of the more ac-
tive issue toward the close of the noon
hour.
The short account was not extended ma
terially. snd profits realized during the
declining period are likely to be employed
in an early repurchasing movement A
decrease of $113.S11 in the net earnings of
st. Paul for the month OF August was
clearly reflected In the price OF that prop
erty. The neighboring Granger shares
were adversely influenced by the showing
owing to the general presumption that
relatively discouraging figures would he
submitted. The selling OF Burlington by
interests active in its recent advance vas
noticeable feature of the transactions in
railway shares. Manhattan was also in
1uenced TO a similar extent by similar
methods.
A reduction of IA per cent in all grades
Of refined sugars invited liberal selling of
the stock Of the American Company, a re-
duction Of 1 IA per cent following. The
stock became duh at the decline, and was
bought In moderate amounts by traders A
conflict of opinion between influential in
side interests as to the more profitable
market position OF the property is said to
exist. Such differences are rarely settled to
the satisfaction of the small operator An
improving market, based on actual i'm
pi ovement in business conditions would in
al probability he had by activity in the
stock of this company.
An advance OF y per cent in posted rates
Tor foreign exchange was not a wholly de-
sirable announcement, but the gold move
ment will not be seriously impedad thereby
Negotiations looking to the Importation of
in the foreign market, and with every
proSpec. of success.
The volume of business fell off very no.
ticeably during the late afternoon. the trad
ing becoming wholly professional Earn
ings are not encouraging to outside inter-
ests, and during lapses in political incen-
tive emphasize the prevailing speculative
narrowness. A satisfactory conclusion OF
the London settlements under the new
money conditions now prevailing may in
spire renewed confidence and fractional adj
vances IN the local market A DISPOSITION
! to force a further decline is noticeable on
the part of those who have already taken
profits. and it is extremely probable that
this view is not opposed by those in charge
of the present market movement. So far
as the making of political capital is con-
cerned, a reaction at this time would be a
desirable precedent to a strong indication
| OF confidence toward the middle of the
| coming month.