Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-01-08
FINANCE AND TRADE.
Bears Pay the Penalty for Overflow
fidence.
TARIFF RUMORS FROM WASHINGTON.
They Cause an Advance in
Sugar.
GENERAL MARKET REPORTS.


special Dispatch to The Evening Star.
NEW YORK, Jan. S-Speculation was
strong and buoyant at the opening of to-
Gays stock market and the belated shorts
again paid the penalty of over-confidence.
Wnile the bulk of the buying came from
the Dear element small orders were exc
cu'ed Tor long account, proving the cor
recthess OF the theory that investors al
ways favor rising market.
Inc general tone of the market was less
encouraging than on Saturday and shows
the effects of the recent skillful manipula-
tons In favor of higher prices. Stocks
were In better demand for borrowing pur-
poses and many operators believe that the
better prices resulting from last weeks
covering movement will lead to renewed
attacks from bear leaders
Sugar was the most conspicuous feature
OF me days trading and advanced under
pressure OF the demand . 1-2 per cent The
company's balance sheet for last year con-
tains some very satisfactory figures and
this fact, coupled with slight advance in
the price Of the refined product, was as
signed as the reason for today's improve
ment.
Washington advices continue to hint at
some favorable alteration in the tariff bill.
which Is an added cause for the present
popularity of this speciality.
The dividend on Louisville and Nashville
will in all probability be passed at This
weeks meeting of the directors and rumors
OF an attack on the property TO follow the
action of the board were i'm circulation
The effect has already been discounted to
some extent and will probably have no
m 4tCrial effect on the price of the stock
Bears points on Western Union. based on
the supposition that the bull pool i'm that
property have more stock than they can
conveniently take care of and Will present
ly attempt 10 market the surplus. resulted
in fractional shading on in price.
Rock Island was strong at a gain of .
per cent TO ~ Ia St. Paul sold off 81 per
cent ON decreased earnings. and Burlington
advanced 5-S per cent to az is.
Dfstillers advanced IL per cent to 26 -
General Electric gained l is to * rs and
Chicago Gas gained l 3-s to 90 :-S
The bond market continues to Improve
and ali classes of reputable railroad mort
cages are in good demand. Foreign houses
report revival of interest in this class of
securities abroad and anticipate the early
arrival of purchasing orders
The market for sterling and continental
bills was active and slightly higher The
supply of bankers bills was not quite up To
the demand. but the supply of all other
classes was good. owing to the large re-
ceipts In this mornings mail. The money
market shows no signs of broadening and
rates continue unchanged at I per cent
on call and to 1-2 for time accommoda-
tons.
The clearing house statementreports ex-
changes, XI,5S4. 546; balances, $5153 OlS
s7JO.655.
The market sold Off in the last hour i'm
liberal selling and considerable realizing
by traders, who claim that the rally has
run its course. Prices dragged perceptibly
during the afternoon, and indications gem
orally point to a further reaction. unless
outside buying orders intervene and supply
the necessary incentive to improvement