Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-10-05
New York Stock Market in the
Hands Of the Traders.
Big INVESTORS hold ALOOr
Better Feeling in London Helps
Local Prices.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

special Dispatch TO The Evening Star.
NEW YORK. October 5.-London cables.
rejecting a continuation of the demand
for American securities and uniformly
higher prices at that center. resulted in a
strong local opening this morning The adj
Vance WAS not Immediately sustained how
ever. owing to realizing sales in all parts
of the room.
Operators conspicuous in the advance
yesterday morning seemed to have been
unfavorably impressed with the markets
easy yielding toward the close of business
ACCORDINGLY. advantage was taken OF the
strength reflected from time to time today
to realize on preyio purchaser
The one forward movement which pre-
vailed throughout the summer and the
one reactionary movement of the last two
weeks nave given way TO the mixed action
known Familiarity as traders market
Inc daily fluctuations are practically
around center which changes only slight
~, bu- always slightly for the better.
The reasons for this action are entirely
natural Facts are daily multiplying IN
FAVOR OF financial betterment. but the abil-
ity or the street, 10 absorb indefinitely
transactions of half million shares n day
may be justly questioned
Large interests have reduced their hold
ihgs and are watching Developments
traders meanwhile buy ana sell for small
turns, knowing that the inactivity of GER
tain interests alone prevents a rally.
Confidence in the short account is ex-
hausted with every one or two per cent de-
cline, Tor the simple reason that this ac-
count is out of all harmony with the facts
Railroad earnings from all sources today
reflect Increases by comparison with the
same period one year ago.
NASHVILLE and Southern. both influenced
adversely by the yellow fever quarantine
report increases whereas recent predictions
We're OF opposite results. II * tra- that
oc,oper last year was a month of anxiety
aud doubt Capital established a new rec
ORD Tor timfdity in the weeks Immediately
preceding the presidential election.
Stock transactions during this time were
speculative purely, the lime for invest
ments not having arrived. But with all
these facts admitted, the record of earn
ings for the present month will I'm sew
eral Instances be entirely new. On earn
ings alone therefore the market has estab-
lished a sound basis.
Ultimately renewed enthusiasm will be
inspired by these continuous returns, but
there Is apparently little inducement to
renew the campaign of last summer at
this juncture. For this reason the market
indicates INDIGESTION and, to some extent, a
lack Of leadership.
The material upon which severe setbaoks
are founded is lacking. however. and the
not mean significantly lower ones.
The Granger shares were in fair demand
during the morning. but reacted during the
period of realizing later in the day.
iiS Sodi sioChs were given tNcelleHt sup
port. and important transactions in the
anthracite trade are generally anticipated.
The lower priced issues fiu-fuated within
fractional limits, and repres -rted no sig
nificant new business.
Sugar was strong and weak by turns, the
repeated disappoihtments as to The date of
the treasury's decision on the broad sub
jet of Hollands export bounty holding
the stock in check.
The over-capitalized Bay State Gas Com
pany was under pressure during the final
hour An assessment on these shares Is
Thought to be inevitable. but a gigantic gas
deal is involved in the future use of the
funds SO paid.