Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-10-22
FINANCE AND TRADE
Weakness and Inactivity Character
lied New York Stock Market.
SUGAR AND CHICAGO GAS EXCEPTIONS
Pending Political Campaigns Cause
the Unsatisfactory Conditions.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK. october PIN sympathy
with lower London prices. the local stock
market opened with concessions ranging
from Ia to 1-2 per cent. Foreign houses
sold moderately, and traders assisted the
movement.
The demand for gold in London. princi-
rally from Germany and Russia had a
tendency to advance money rates. consols
declining Ia per cent in consequence. India
may also make some demands on the Brit
ish gold supply, erd the United States
surely will.
While these transactions in the money
market had their Influence on home securi-
ties, London's reasons for selling American
Issues were multiplied by rumors of further
Cuban complications. The approac ching
session of Congress is being gen orally her
aided as one of vital Significance in the
matter of our foreign relations, and Il Is
reasonably safe to presume that the long
account will not be oyerburdened with
stocks on the first Monday In December
The local elections, as well as those I'm
the several states. are still to be counted in
the percentage of risk involved i'm stock
transactiors.
Outside of politics, however. routine de-
veiopments are, for the most part. encour-
aging. But the political atmosphere must
clear before the full effect of other forces
is recognized.
The market was again almost exclusively
che OF snail operators and professional
traders. At the decline of the early mora
ing dizziness became prominent and a gen.
eral tone of hsaviEess predominated until
a demand for Chicago Gas caused a sharp
advance in the general list. The control
of the rival gas companies is said to have
passed definitely into the hands of tho
corporation named and without unneces-
sary expenditures.
The latter statement is received with
some skepticsm as the forced buying of an
unessential commodity cannot be regarded
as wholly inexpensive.
American Sugar rallied 1 per cent from
tie low level of the forenoon. and was
moderately active throughout the day. The
reasons for this movement are largely
based on pending developments at WASH
iEeton.
The two industrials named were the &C.
| tive features Of the day and gave direction
to the entire market.
The railroad list was strong and weak
by turns, but confined its fluctuations with.
in narrow fractional limits. A few of the
neglected specialties were marked up as
opportunity offered. but this buying was
either manipulative or in the interest OF
covering.
Union Pacific purchase had q tendency to
reduce the price of those shares. but
sharp recovery in the price indicated tho
inconsequential character Of the selling re-
sponsiblc for the decline.
The afternoon was given over TO limited
trading in the interest of completing the
weeks contracts.
There was no new buying and no pres
sure to sell. The most conservative inter-
ests convinced that there is profit in
waiting for a more definite basis of opera
tions. During the next fortnight the mar
ket is likely to remain in the hands of a
few traders.