Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-12-19
FINANCE AND TRADE
Effect of the Coming Gold sxps
mentS.
PESSIMISM RULES IN TIE STREET
Fears Of Legislative Hostility to
Sugar,
GENERAL MARKET REPORTS
pecial Dispatch to The Evening Star.

| Special Dispatch to The Evening Star.
| NEW YORK, December 19.-The feeling
| among traders this morning was decidedly
pessimistic in view of the steadily de-
| creasing gold reserve and the prospects Of
| large gold shipments at the close of the
week. The condition of the market is such
| as to preclude the probability of any sig
| nificant improvement in values during the
| balance of the month, except such as fol-
lows effort to cover. The decreased
| short interest and today's selling for long
account will postpone any Improvement
| even from this source.
The financial plan now under discussion
| in the House is encouraging only as 1T in
dicateS the existence of a desire to reform
pre- sent conditions. Evidences of haste and
short-sig htedness are too apparent to rec
onmend 1t further. 1t is believed that
stme benefit will be derived from the con-
sideraton of the measure, however, and
| that valuable data will be secured for the
formulation of a more popular plan.
The prospects of a further attempt to
call up the ill providing for the abroga-
| ton OF the one-tenth differential duty on
imported sugar have again unsettled senti-
ment and given rise to fears of an effort to
| force down prices. 1t is not generally be-
lieved that the attempt will be given any
mere support than was accorded the last
effort in this direction.
The agitation wilI probably be success
full in causing a temporary reaction in the
market price or sugar, and it Is not be-
heNeu tHdl tHlS result WOuIQ De eltner I'M
| expected or unsatisfactory to those inter-
ested in the repetition of what is believed
by competent judges to be useless waste
OF time.
The sudden change in sentiment relat-
ing to Chicago Gas was instrumental in
restoring an additional l 1-2 per cent Of
the recent loss. Considerable cheap stock
was purchased on the decline, and a we'll
founded opinion prevails that stock &C
cumulation was the real object of the set
| back.
The regular / IL per cent is expected to
be declared later in the month, or perhaps
interests identified with the stocks move
ments predict one Of the most profitable
bull movements In the history of this COM
pany.
The grangers were all fractionally lower
between the extremes Of 1-2 and "a per
cent. Reading was more active than usual,
declining L per cent on selling, in which
Philadelphia houses were conspicuous. Jer-
sey Central also lost "a per cent on SELL
ing, due to the unfavorable outlook for
| the winters coal business. Elsewhere the
| narrowness was so pronounced as to pre-
vent any material changes in quotations.
The market for foreign exchange was ir-
regular on a small volume of business.
Sterling was firm and francs a trifle easier.
Bankers were reported to be in the market
as drawers of bills against gold already
shipped.
The last hours trading was dull, with
prices in the main around the lowest point
of the day. Consolidated Gas. which was
marked up earlier in the day on moderate
purchases, advanced during this period for
a gain of 81 per cent from opening fig
ules Final figures, as a rule, however
reflected fractional net losses for the day.