Evening star., 1894-01-10
A Policy Of Waiting Adopted in Wall
Street.
BOTH SIDES UNWILLING TO BEGIN.
Varying Views Regarding a Bond
Issue.
GENERAL MARKET REPORTS.

Special Dispatch to The Evening Star
NEW YORK, Jan. 1O-The opening of
today's stock market was marked by no
significant feature and was dull at closing
ngures. London was on from IA to 1-2 per
cent, and had no orders on this side. The
sentiment in favor of depression is gaining
some strength in the room, but the mar
rowness of the speculation seriously handi-
caps any effort of this character. The mar
ket has developed some resistance and
buying orders are uncovered on every re-
action The presence of both elements in
the street holds the market I'm a state of
equihor1um. as neither faction is willing
to take the initiative. while the purposes
ana designs of the other are unknown
railroad returns are discouraging and traf-
nc managers are everywhere quoted as see
ing no immediate Improvement ahead.
Secretary Carlisle's testimony before the
House committee in regard to the treas
ury's financial condition Is by no means
encouraging. and will probably be the basis
for the next bear campaign.
Treasury balances have been the subject
or much discussion of late as indicating in
some measure the probability of a bond is
sue The effect OF this action on the part
or the government would favor the bear
cause. II Is said, by unsettling the market
for our securities abroad. Others claim,
however, that the good effect at home
would more than counteract the depression
abroad, so that the whole matter is re-
duced to an experiment that both sides are
willing to leave untried.
Sugar was the one conspicuous feature of
the days market. and was strong and weak
by turns. Selling up on some good buying
during the morning to 81, a gain of IA
per cent, II ran off easily under the pres
sure later In the day to 50 1-2 The meet
ing of directors called for today was forced
to adjourn for want Of quorum.
Chicago Gas was strong on moderate buy
ing. and advanced per cent to 66.
The remainder Of the Industrial group at
tracted little attention.
big Four sold down l 1-2 per cent on
general adverse conditions, and another ad-
dition Of s11dOo to the long line OF weekly
decreases reduced the price Of St. Paul 3-4
per cent to So 3-4.
The next dividend on Big Four will prob
ably be passed. as tie company's earnings
1t is said do not warrant its payment. New
England gained Is per cent on small
transactions to II 3-S and Burlington lost
"a per cent to 13 3-4.
The market for sterling and continental
bills was narrow but strong at a slight ad-
vance In rates. The small offerings Of all
classes of bills make he market extremely
sensitive to the limited inquiry from re-
mitters. Money ruled at I per cent on can
and time accommodations remain unchang-
ed at previously quoted rates.
Lie CicdTinS House SldtcfncHt tx-
changes, $110.S44. 1888; balances. s. 407 ,363,
and the subtreasurer's debit balance, s6s2.
S5S.
A remarkable feature Of the adjourned
meeting OF the American Sugar Refineries
directors was the number of small stock
holders present and the absence of proxies
on any large blocks Of stock. This gave
rise to the presumption that the larger hold
ers had unloaded in anticipation of unfa-
vorable legislation. and prompted the raid
by the room during the afternoon.
The closing was regular, but generally at
concessions from Introductory figures.