Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-09-20
FINANCE AND TRADE
Sharp Bear Sentiment Developed on
New York Board.
COMMISSION BUYING STAYS DECLINES
Granger Shares More Than Held
Their Own Again.
GENERAL MARKET REPORTS

Special Dispatch TO The Evering star.
NEW YORK, September ao.-In sympa thy
with lower London prices opening figures
generally reflected concessions from Sat
urday's closing level. Foreign houses
were moderate sellers of the more active
international issues. but the trading for
that account was not Significant in VOL
ume.
The professional element was DISPOSED
TO take profits on long stock and sell mod
erately i'm the short account. The one ar
gument offered in justification of the lat
ter position was that the market had had
an unusually protracted advance.
There was no special effort on the part
OF the leaders of the opposition to thwart
this desire for lower prices. The commits
sion house demand was. however. fully
equal 10 the task of combining the rcactioa
within fractional limits.
Earnings were uniformly favorable. and
predictions as TO the nature OF future re-
ports were entirely optimistic. There was
not the slightest indie alton OF a change in
the undertona of tie market, and consSr-
Native houses were more conspicuous in
extending their lines on reccssions than In
.iqIidatfng at advance.
The familiar group-by group movement
was as pronounced as ever. the Granger
shares again coming to the front. Rock
was the operative influence an advance Of
IL per cent in the price of that stock being
partially reflected throughout the entire
group.
In addition to actual earnings Bur-
lington conspicuously strong up
over 1U2 and is said to be eclipsing ali pre-
vious records for earnings. The August
statement, due toward the end of tina
month, Will probably reflect increase Of
sI50.ooo. Less conservative estimates put
the amount at Sp0,0o0.
Burlington is one of the principles to a
project for consolidation which will cstan-
fish the most thorough system of railroads
in the west All things considered. the
enormous earnings of the grain-carryina
roads and the future outlook seem likely 10
keep them conspicuously to the front in
speculate ton.
The coal shares Were il -e:;ular~ hut IL
merit alone is considered perhaps Justly
so. New Jersey Central failed - find sup
port at its recent high level. while aha
Reading issues and Delaware md Hudson
reflected some good buying.
The delayed construction to be officially
placed ON the twenty-second section of the
tariff bill had tendency 10 hold the
Car adam roads. Northern Pacific and Pa
cific Mail, in check. The prevailing opin-
ion has shifted to the belief that the bCu-
efits and init ries to American corporations
will he deity divided so as to preserve thr
present field intact.
The low priced issues " lille attracting a
liberal volume of business made no note
worthy gains. The semi-ofiIcial announce
ment that the government would not oi'.
pose foreclosure in the case of Union PaClfie
had a beneficial influence on the shares or
that company Notwithstanding sales by
London.
A sharp covering movement in Nashville.
ins pired by increased earnings, was ore cf
the features of the afternoon. Advances
ment issues We're features Of the less
active portion of the market.