Evening star., 1898-09-30
FINANCE AND TRADE
Continued 0minous Weakness of the
Industrial Group.
SOME LIQUIDATION In CHANGERS
II is Believed Decentralization VIII Be
Prevented in Time.
GENERAL MARKET REPORT

Special Dispatch TO The Evening Star
NEW YORK. September 30.-Cahles this
morning reported Americans buoyant on
London opening. with advances extending
from one-eghth to five-eighths Northern
Pacific traffic receipts were unknown there
at the opening. but later caused further
improvement in these shares. Consols were
steady: money. 2lea3: short bins. tl-lGa
pa; three months bills. "a per cent
The local market at the opening showed
advances in sympathy with better feeling
and higher prices in the London market.
There was heavy liquidation in rubber at
the opening and no support in il.
1t looked this morning as if the chief
champion Of the industrial stocks Was
changing position.
London. as was the case yesterday. has
been quite a buyer. particularly Of the
fEcifics and the railway list was i'm the
main firm. There was some anxiety, how
ever among the bulls as to how long the
general market will stand the weakness in
the industrial group of stocks.
1t was thought that 2a.ooo shares OF
Northern Pacific common have been pur-
chased by foreign houses in the past few
days, most Of which Will 5e shipped To Lon
don tomorrow, supposed To be for Berlin
account. The earnings Of Northern Pacific
for the third week of September show an
increase of S5+,316.
Al noon the general market showed some
tendency toward reaction. Union Pacific
reported net increase for August az SILL
595 The market was fcverish and narrow
in the afternoon trading, and only affected
IN vulnerable stocks. The encourag-Ina Mt
offered traders yesterday by the virtual re-
joc tion Of the Chicago platform by the
democratic conventions in tha three doubt
full eastern states seemed to be entirely
lost sight Of by the further weakness I'm
the industrials today. The decline in these
stocks has killed. temporarily at least,
spec ulation in the railway list.
There has been some liquidation today in
the Grangers, and, to a smaller extent. in
the Pacific stocks. There is reason To be-
lieve however, that the interest primarily
responsible for the decline in the industrials
will endeavor to check anything like de-
mOralization.
The break in Sugar in the late trading
was caused principally by the selling Of
Carlisle and Hoffman Bros. the latter dis
posing of 900 shares OF the stock bought
yesterday. Fuller details of the Burlington
statement show that on the basis of the
figures therein presented. 100 per cent was
earned on the stock during August, against
| 9S per cent In August last year.
The Mercantile Trust and Deposit Com
pany of Baltimore, trustee under the Bal
timore and Ohio consolidated mortgage, pc
titioned the United States court yesterday
for authority to institute anCillary fore
closure suits in West Virginia, Ohio and
the District Of Columbia, the mortgage
covers property of the railroad in these
places. The initial foreclosure suit was in
stituted in Baltimore on September 10. 1t
was stated here that the junior securities
of this road will be exchanged in such a
way that there will be nothing between the
first mortgage bonds and the preferred
stock
London market at the close showed
Americans steady, although below the best
prices of the day. Union Pacific and st.
Paul stocks were off on New York selling
orders. Foreign markets have been com
DarafiKplV QIIipt. GOnSDlS closed upgfHnp-
ed, and Spanish As substantially unchang-
ed at 42@