Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-10-04
FINANCE AND TRADE
Stocks Were Dull at About Station.
airy Figures.
TIGHT MONEY STILL CONTINUES
Prospect for an Easing Up Of High
Rates
GENERAL MARKET REPORTS

special Dispatch to The Evening Star
NEW YORK, October 4.-The more pa
life advices relative to affairs in the Trans
aal had beneficial influence on prices.
nd resulted in London's trying to buy back
esterday's late sales. As the result of
his change in foreign sentiment opening
rices showed substantial gains over the
nal figures of yesterday
The money market again lowered around
- per cent rate, but the only effect of
his charge was to restrict trading. There
no material liquidation likely to set in al
ne present level. since the undercurrent
the market reflects strong confidence
Il future results. Among traders there Is
ass assurance in the matter of short sell
lg, and it is evident In some quarters that
nee a covering movement Is started it
.ould assume considerable proportions.
Traders have dealt very largely with
ach other, and the large interests have
My participated in the trading of the last
few days to the extent of beginning a
Gradual accumulation of long stock. The
utlook favors cautious and discriminate
lg accumulation of the best issues, best
icing used in the sense of having been
ried on all weak spots made by a further
xtension of short selling.
The war in the Transvaal may or may
OF come, but the enormous hazard of
roperty may lead to mutual relaxation
N the more delicate points at issue. The
trength of Kaff1r shares again today would
Tgue that financiers at least have not lost
;ope.
Locally the depressing party has made
luch of this prospect, but 1t is doubtful
actor at best.
The money market has been strong for
UGH protracted period that the street
aust shortly tire of 1t as factor. The
,ublic. however. will be cautious for
urther period but earnings, bank clearings
nd the multitude of other legitimate in
iuences for good must come to the front
alter The stubborn holding on Of pools
md speculative cliques only be ex-
plained on the ground that their bankers
ave given assurances of easier times
head in the money market. New York
as repeatedly financed the country, and
low that the country has profited by such
assistance 1t is only reasonable to expect
reciprocal transaction.
An adance in Pullman Palace Car stock
IF 4 per cent in addition to its sharp rise
# yesterday was explained on the ground
# an extra dividend in the very near flu
ure. The earnings of the company fully
Justify such a disbursement and the usual
policy of the company would suggest such
IN employment of its surplus.
The Traction StochS were strong, partly
under the influence of recent heavy traffic.
out mainly because of the development Of
he plan for closer working arrangements.
This group of stocks is at the present
ime the one most generally under consid-
'.dtloH Dy Interests contemplating ACTIVITY
IN the long account. Whatever changes
may have taken place in the earnings or
control of the several properties is second
airy. as a market influence. to the fact that
a strong and experienced manipulative
clique stands ready to force an advance
at the first opportunity.
The Pacific issues were strong and the
,uylng was more confident than 1t has been
'or some time. The undertone of the mar
tet was more improved than the net
harges for the day would Indicate