Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-10-01
FINANCE AND TRADE
Break in Manhattan Unfavorably AZ
feoted the Entire List.
TOBACCO RALLIED AFTER WEAKNESS
Money Makes Further Progress
Toward Lower Figures.
GENERAL MARKET REPORT

Special Dispatch 10 The Evening Star
NEW YORK, October l-Amer!ca. issues
On the London market this morning con-
anued moderately active and prices w.r,
ana y above New York. Louisville and
nashville and Southern were the prominent
FEATURES. There was good buying of the
i"clncs' Consols were steady. Money there
-'Ga2%. Discount short and three months
| bills, rs.
The New York market opened quiet. with
railroad stocks strong and inaustri,ls nm
| settled There seemed to he a uttle seal
tered liquidation in them, and. besides the
room has become bearish on them.
expectation Of a good bank statement m
couraged more hopeful feeling resars{ay
the general list. and toward IL O'Clock ths
market Wss strong, though very profe s-
sional
Inc entire list developed weakness in the
late forenoon on the break In Manhattan
from 95b. to BOX, caused, It was s.ud nv
taIk OF opening the new 9th and sth avepu,.
lines. which will largely offset their earn
inss. There has been large uautdafion I'm
TINS stock for some time. and II Is nos,
feeling the effects of these sales.
Iobacco also showed great weakness. nv,
f Up 9diers me stock sold of from the open
on the way down "''ie support
AT II 40 Tobacco had rallied slightly -
10 me rest OF the list, however showed
| very little inclination TO rally after r. a
nofallzation displayed In Mauhaftan s,a
per cent. " ~
The The bank statement, as made pubic. is:
reserve, increase. S7O74275: loans do
crease, $3.50 500. specie Increase al go
NO; legals, increase, $3.50 200; deposlts ia,
crease, M.374.900; circulation, Increase.
1874 400. ''
The statement shows banks have zain.s
sI4ls.0oO in lawful money, all but three
quarters OF a million in specie The de-
crease IN loans is the smallest In several
weeks, and is doubtless due chiefly TO the
liquidation In the Industrial stocks rba
deposits are a little large because The IN
crease IN cash exceeds the decrease in
ioans' Inc net result brings the surplus
Up T. sl0,8Z7ito An interesting feature Is
the increase Of over half a MILTON In ctS
culation following a similar incraasa La,
week. showing that the banks are using
tns new bonds to increase their circulation
Inc STOCK market was not specially az
. .ee.ea by me bank statement, owing to the
influence OF the further liquidation and de-
CINE IN Tobacco. The decrease In that
STOCK should be nearly over, as It has fallen
without interruption about 35 points
The rlilroad list showed a good dnaI ~
nfmness al the close and encourages the he
IleI that IL Will improve as soon as the
shake-down in the industrials is over Fer
i4O'" Outstanding the unsettled tone Of tina
weeks market the events of the rneantinna
LaFe been in the main altogether favorahIs
me money market has made further prog-
reSS toward lower figures and the best
opDllcn seems TO be that the decline IN
rates from now on will be fairly rand the
treasury outpour. the receipts OF gold from
europe and Australia being SO heavy thar
a decline in the money market to the Low
ieEsl OF last June is confidently expected
Ihen, too, evidence is accommodating Of tho
breakdown OF the Bryanite element in the
oemocranc party; for example New York
New jersey, and Connecticut have all de-
ciared against the Chicago platform and
the three states mentioned are generally
reckoned on as necessary 10 give the theor-
les OF that element any weight "a a ma
tichal convention. Republican conventions
IN the western states, such as Montana,
Idaho and Washington, also indicate a
Grange OF sentiment in regard to the free
coinage Of silver.
On the other hand, the bears claim there
Will he some uneasiness as to the outcome
OF the congressional elections in the next
six weeks, as the election of a democratic
Congress would undoubtedly prove disturb
ing. They also say another point Of possible
Danger may be found in the approaching
deliberations OF the peace convention in
Paris,