Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-11-29
FINANCE AND TRADE
Sugar Took an Up Turn of Five Per
Cent Today.
CHANGERS OBJ OF BEAR ATTACK
Meeting Of Congress Will Probably
Cause Lower Prices.
GENERAL MARKET REPORT

Special Dispatch to The Evening star
NEW YORK. November 2,-Tradins 4,
today's market was divided between real
izing sales and a cautious adding TO such
shares as are in the hands OF the stronger
chques. London interest in the local mar
ket shows no signs OF abatement. the pref
erence for American shares recalling In a
smaller degree the enthusiasm for colonial
enterprises earlier in the year
The range of prices In many instances
suggests the possibility that much of the
good In the situation has been discounted.
AT least TO the extent of prompting caution
IN future undertakings. This discounting
process has not reached the proportions
warranting the abandonment of the upward
movement except temporarily and to allow
for the more complete absorbing OF specu-
lative holdings
The granger stocks. selling at somewhat
unfamiliar prices. are alta ked from time
TO time simply because The room gets In %
comparative or rem .niscent mood The
selling which follows the discovery that
burlington is as high as the years record
made in August and that ST. Paul has
duplicated its achievement Of Semi. miner
ana That both are many points higher than
The top prices of the suumer movement of
1917, has up to this time been unprofltabIe
St PauPs earnings came in yesterday far
in excess of the 1897 period and TODAY Rur-
nngton reports for the month of October
an Increase of S276.!G56 in gross earnings and
increase IN surplus, after all charges of
SlS9?4i. The most significant feature of
these statements is that the Incentive TO
grain shipments has decreased by reason of
nome prices, and that the increase in bust
ness is que largely to the handling Of manu-
factured and miscellaneous products
This fact being admitted the change in
pIiSe LOT the shares Of the roads Is justified
Oh the ground OF an attendant improve
ment in value
The declaration of the regular dividends
on Chicago and Northwestern inspired some
selling on the part OF the ROOM which had
stubborn.y refused to believe In the off
repeated assurances that the management
contemplated no change In it's annual dis
bursements.
The buyirg which was really significant
curing the advance in this property was
fully advised on this point, and something
more than speculative turn was contern-
plated by those making the purchases.
An advance Of per cent in american
sugar was credited TO a movement against
the short interest, based on the prospect OF
the declinatiCn of the regular 3 per cent
quarterly div idend.
The industrial movement just at this time
Is OF secondary Importance only and the
trading in both Sugar and Tobacco is con
sequently largely professional.
AS Congress is about 10 reassemblp there
Is every prospect of that event being made
10 serve as an argument favorable to
further profit-taking.
The territorial dispute in the northwest
is not definitely settled, and this fact cou-
Piled with the two-sided character Of the
debate on colonial expansion might make
more profitable purchasing level than
that now prevailing. The nagging argu-
ments of the depressing party when all
narshaled for effect are easily offset by
trade balances and current earnings. There
are no situations superior to deserving re
actions and few that fail TO get them at
frequent intervals.