Evening star., 1898-10-20
Stock Market Showed Some Strength
at the Close.
OPENING Was DULL and WEAK
Railroad Shares Neglected Still
Owing to Politics.
GENERAL MARKET REPORT
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. October a0.-The nlon
security market opened today at scbstan.
tia! declines from the New York parity
During the orenirg hour foreign nouscs
sold some stocks, but this selling maze ut.
Tie impression on local prices. Fractional
uechhes prev allied, but the volume and the
CHARACTER OF the selling were not equal "a
creating any general mistrust of pr:ces
ne uenla Id at the decline was In all CassS
superior to the selling at higher level.
The room is still in control Of prices to a
degree but material changes are guardat
| against by the continued refusal to liouidats
long stock
Commission house business has faIleu
on nouceably. both broker and client agree
ing on the advisabllity of having the elec-
lions in the past tense, owing to the be.
culiar sentimental influences involved A
stupid market Is consequently being fos-
tered instead Of a discouraged one
The Pacific stocks have passed from ths
stage OF positive TO merely passive strength
Ihey are easily depressed within fractional
units, but are usually made TO reflect mere
ly insignificant net losses The dividend
question on these shares is so closely allied
with questions of legislative policy that ma
terlal evidence of prosperity is argued
against by certain influential interests. The
electlons are consequently interesting to the
western and northwestern roads the de-
gree OF populism determining the degree in
Which stockholders may participate in earn
ings.
The Granger shares were given excellent
support in spite OF the dullness. gaining \,
per cent from opening prices on limited
purchases. The reports from the south ara
more encouraging and interest in the se-
curlties OF that section would revive in a
broader market.
During the summer months, when in
creased dividends were the fashion reports
lAr for IA
rate were heard on all sides
AT TINS time the ability to pay an in
creased rate is commented upon, but doubt
is expressed as to the wisdom of the ad-
vance. Should the market be in 2 buoyant
state at the time of acting on this question
the present mistrust of the proposed in
crease would probably disappear
The Industrial department was given rel
adVely good support during the greater
part OF the day, although one OF the largest
operators in the street was credited with
increasing the volume of his sales in these
shares.
Trade fights are now nearing the stage
at which neg 0tiatio rs looking toward over
night settlements should be added to the
risk of short selling. Not that such nego-
uatlons are in progress but because the
compromise spirit is relied upon to triumph
in the end and because the unanimity Of
this view may hasten action.
Manhattan was made a feature of the
market as the result of a repetition OF the
story that Metropolitan had obtained
controlling interest in the property.
An advance of more than 2 per cent fol-
lowed buying of more or less professional
character. The price responded easily to
the demand, thereby showing the pressure
of a moderate short interest At the ad-
vance the trading became duh, but some
speculative buying was attracted by the
fact that the stock could be made to ad-
vance in the face of such an unsympathetic
situation.
The markets for both bonds and stocks
were strong during the Hnal hour at the
best prices of the day. The volume OF
legitimate business increased but slightly
but room sentiment changed for the better
during this period.