The Washington times., 1894-03-27
BROKERS EXPECT A VETO
New York Markets Ruled Stronger
Yesterday on This Presumption.
SUGAR SUFFERS A DECLINE
H. o. Havemeyer's Published Letter Causes a
Bearish demonstrating Sold Freely.
St. Paul Gains Slightly Whisky Trust
Stock Affected by the Combination.

New YORK, March 26.-The very general
dent will veto the seigniorage bill had the
effect OF strengthening the Wall street markets
to-day and undoubtedly checked the bear i'm
pulses of those operators who take the short
| side Of the market on the slightest provoca-
ton. The decline Ia sterling exchange rates
was also an element of strength in the specu-
lative situation, inasmuch as it removed all
likelihood of gold shipments for the present.
At the opening of business on the Stock Ex-
change a generally firm tone prevailed, and
the first prices made were in the main small
fraction higher than the closing figures Of
Saturday
Sugar, however, was an exception, opening
q per cent lower and receding 4 additional,
doubtless the effect of the bearsh view of the
situation OF sugar taken by II. o. Havemeyer
in Il published interview; but good buyers
coming in at the lower level. sugar quickly
moved upward. gaining 19s per cent. the
purchasing movement being assisted by the
announcement from Philadelphia that the
appeal of the government in its suit against
the sugar trust had been decided against the
government. In the final dealings the stock
lost 2s per cent.
The general market was strong in tone in
the early dealings, and up to noon the trend
of prices was upward. the volume OF busi-
ness being at the same time very light
American Tobacco led the advance, being in
good demand ON reports to the effect that the
annual statement will show that the company
made profits in excess ofthe ~ per cent. divi-
dends on the stock. The Improvement in
tobacco continued during the early after
tIa IL hi, Laipr
cent. above Saturdays closing price. In the
last hour realizing sales caused reaction OF
IL leaving net gain of 2si on the day.
In the general list a reaction took place
after midday which was merely fractional
and but OF brief duration. and which was sue
ceeded by another upward movement. in
which Lake Shore was most prominent SELL
ing up to 131, an advance on the last previous
sale of 2j5 per cent; in the final sales "a reac-
ton of X took place. Shortly before the close
Richmond Terminal preferred broke 2 per
cent, and the general list fell Off a fraction.
but in the final sales there was Il
partial recovery and the market closed
ilrmer, the leading advances on the
day not already noted being 2s4; Min
neapolis Il st. Louis preferred. I$5; Tobacco
preferred IIS; Consolidated Gas and New
Central Coal. IL; Canada Southern and
Illinois Central. l per cent; New York,
Chicago & st. Louis first preferred and Wells
Fargo Express. Toledo. and Ohio Central and
?. C. C..& ST. l.. preferred each show de-
cline OF per cent.
The settlement of the differences of the dis
tillng and distributing companies, by which
the latter is to dispose of all the product OF
the former and to buy its goods at the lowest
price made by an independent producer, did
not have very buoyant effect in the stock of
the distilling company. for after an early ad
vance of = per cent the shares sagged off l 1s.
rallying 4 and closing g below Saturdays
last price.
Reading was sold freely by a Philadelphia
pool. but lost only half per cent. on the day.
ST. Paul gained three-fourths per cent and
was bought in round lots on its very favor
able statement OF net earnings for February.
The other Grangers were firmly held on small
transactions