Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-11-06
Past Week Marked by Sharp Decline
in Stock List.
MARKET OFF AGAIN TODAY
Due to Rumors of Some Unde-
fined impending Trouble.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, October 6.-Fractional adj
vances in the London market inspired
more hopeful tone in the local market this
morning. Prices were uniformly higher
during the fist few minutes of trading.
but once the demand from the short in
terest was supplied concessions followed.
The situation at the end of the week is
decidedly unsettled. and there is little con-
hdence in higher prices. Compared with
final figures one week ago today's average
level is more than per cent lower In
individual instances. notably in American
Sugar, the decline has exceeded 10 per cent.
Liquidation has been encountered daily,
and while various excuses are given in
explanation of these sales. the real in
cehtive is an intuitive dread that some
calamity is impending. So fixed is the
idea that some unseen force is working de-
probation throughout the security mar
kets that holders are becoming suspicious
CT the very best divfdend-paying properties.
Buying is not recommended except where
certificates are taken out of the market
The happening of some one favorable
event under such conditions as now pre-
vail would have small weight. Skepticism
and distrust dominate trading circles, and
the public refuse to come TO the rescue of
their investment holdings.
Thus far in the decline no calamity has
been recorded and prosperity in business
shows no signs of decreasing. The holiday
trade Is an encouraging prospect and the
railroads. as usual must share in the rev.
enue therefrom.
Earnings from ordinary sources should
be good from now on and the money mar
kets should cause no apprehension to Dor-
rowerS.
1t is conceded that Tuesdays elections
were overestimated SO far as their adverse
features are concerned. and that they
ShOnld 1opver 10 cd
1t is safe to assume in view of these facts
that prices rather than values have been
undermined. A clearing away of the doubt
concerning the outcome of the Cuban ques-
ton should be followed by better prices
Continued Improvement in Mr.. Haver-
meyers health mad beneficial influence
on the stock of the American Sugar Com
pany, the covering of short contracts fol-
lowing a morning bulletin announcing the
Improvement. The steady tone of this ac-
tive industrial helped the entire list as did
also vague rumors of possible but i'm
probable Supreme Court decision favorable
to railroad interests.
At the close of the day the market as n
whole reflected fractional gains from the
opening in consequence Of these latter in
fiuences
The bank statement for the week reflects
a decrease of $1,3iG,oOo in lawful money,
all in legals. The loans have been in
creased $6,Ss5,00o as the result of important
railroad transactions, and an improving
commercial demand. This change is re-
11ected to an extent by an increase of near
ly $S,W1.CU in deposits. necesstating an
increase in reserve and reducing the sur
plus reserve holdings a trihe more than
S39o,tO. The reduction in the latter item
Is not sufhcient to cause any material tight
enin2 in money rates, although the demand
incident to the end of the year may add
fractionally to interest rates.
Should money find a market at profit
able rate, gold imports would again be-
come factor.