Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-11-01
Strong Demand for Brooklyn Rapid
Transit Today.
RAILROAD LIST WAS NEGLECTED
Money Rates Were Irregular, But
Exerted Little Influence.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch TO The Evening Star.
NEW YORK, November i.-Opening
prices this morning were generally irreg-
ular, and the forenoon trading was given
over to realizing in a few instances and a
moderate covering of short contracts in
others. The bank holiday in London de-
prived the local situation Of the usual
quota of foreign business, and gave rise to
the mixed trading resulting from opposite
views as to what Londons attitude would
be tomorrow. 1t is reasonable to suppose
that decided change in affairs in the
IransVadl must occur before London re-
sumes confidence in the security markets
Money rates were bid up again early in
the day, a 20 per cent demand prevailing
for time but later offerings broke the
rate to D per cent during the early after
noon. As was noted yesterday, the market
falled to attach the usual significance to
the money rate and prices were bid UP for
speciaI reasons without regard for the in
terest handicap.
The movement In the iron and steel
stocks was again feature of the trading,
put declines resulting from realizing sales
were well allowed to extend to more than
per cent in several instances before new
covering and g traders demand started
prices upward. There Is a great deal of
manipulation in the present Industrial
speculation, and II will require decided i'm
provement in the commission house de-
mand to sustain the gains of the last two
days.
The short interest Is being curtailed and
once 1t ts eliminated true test Of the stu
alton may be had. Should money begin to
return to this center in volume there would
be no difficulty In forcing a further advance
of considerable proportion.
While interest rates huctuate after the
manner OF today and Industrial common
stock Is In disfavor with the courts there Is
not likely to be sustained movement OF
any character. When New York takes a
few other financial centers into considera-
ton and abandons the idea that financial
eXclusiveness is profitable, interest rates
may return to the conservative basis re-
fected in old world centers.
An advance in Brooklyn Rapid Transit
during the afternoon was preceded by one
of the most active and exciting demands
that has been accorded the property since
1t was the acknowledged leader of the mar
ket- The stock was not offered in the vol
ume expected by the short interest and
recent sellers found it difficult to satisfy
their outstanding obligations. One large
operator was particularly urgent In his de-
mands against previous short sales
Manhattan was bid up during the dav
Notwithstanding rather severe attacks from
the anonymous sources which have recent
ly hooded the street with opinions on the
faVorite specialties of the hour
The railroad list was in a great mea sure
neglected, but few of the more active is
sues were unusually strong. Southern Pa
cific reported an increase of $5SS 900 in net
earnings for September, and Union Pacific
reported an increase of S20S 800 for the
same period.