Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-10-23
FINANCE AND TRADE
New York Stock Market Shows Gains
for the Week.
BUSINESS RESTRICTED In VOLUME
Room Traders in Control and Lit
tie Commission Buying.
GENERAL MARKET REPORTS
Special Dispatch to The e, ening Star.

Special Dispatch to The f, ening Star.
NEW YORK, October 23.-Notwithstand-
ing the surface Indications of unsatisfac-
tory speculative conditions, prices al the
close of the week reflect gains varying
from i to per cent The covering Of a
considerable line of short stock and the
absence of concerted action in renewing
safes OF that character have done more to
sustain prices tnan actual new buying
On all sides there Is a tendency to await
the outcome OF pending elections, and con-
sentative buyers hold aloof IN the belief
that lower prices viii, precede permanently
higher ores.
The volume OF business has decreased
noticeably during the week. today's sales
agsree ating only $3.50 shares. The mar
ket is in the hands of the room traders. and
this element cannot be regarded as friendly
toward Improvement
The best features of the situation are not
developed to their fullest extent because
OF the apathy OF the larger interests. and
lower prices will rot. therefore, indicate
amy depreciation in merit
Inc season OF the Year. with its multi
plying legislative and judicial contingent
cies, is against Improvement but the re-
peated evidences of prosperity must sooner
or later accumulate sufficient force to
bring about the inevitable triumph OF in
trinSic value.
There is no reason for relying upon any
material change in the direction or volume
of business druing the next fortnight
lie personnel of the market must change
and much of the doubt on collateral sub
JectS must be reduced to a fixed quantity
before absolutely good buying is encoun-
tered in volume
The bank statement was somewhat sur
prlsing in the two items of loans and cash
holding. The former account has been re-
uuced SG.l41 tsn dprinp ba l.
thought to reflect the repayment of funds
borrowed at the beginning OF the crop
movement.
The gain in lawful money is represented
S2,'Of,Voo in legal tenders. The latter pro-
POI uon OF the increase is attributed to the
lnflux of money from interior points As
the Increase in deposits is only 81 :sSa Gan
nearly all az the gain in cash is reflected n,
the surplus. bringing that item up to 3d.
9A, 700.
The publication of the British govern
ment S answer to the proposition of Franc.
and the United States on the silver aues-
ton has had a beneficial influence on the
tone of the London markets. The foreign
de- ana for our securities. however, is not
likely to assume large proportions until
the initiative is taken by home Interests
Consequently the foreign markets today
reflected steady uadertone for all issues
except Americans, which were Il to q
under the New York parity.
An effort is being made to enlist foreign
support in future stock movement to fol-
lew hard upon the settlement of those
CONTINGENCIES which make an immediate
advance inpra cticahie. The industrial
shares, particularly Sugar ana Chicago
Gas, are likely to dominate the market
curing the coming week. Developments of
unusual significance are pending in these
properties, and some decided market moe
ment is relied upon to follow the COM
pleted trans ctions
Earnings are likely to he I'D to the
customary high standard, but the railroad
list may. from sheer lack OF interest again
disregard all such reports