Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-06-23
FINANCE AND TRADE
Fall in the Price Of Sugar Trus,
Stock.
IT'S FRIENDS REMAIN CONFIDENT
Meaning Of the Heavy Gold
Exports.
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star.
NEW YORK. June %.-There were few
features OF interest in today's short session
owing to the extreme narrowness of specu-
lation and the absence OF incentive. London
prices were lower and local values were cor
respondingly reduced. The railway list sold
on fractionally on q small volume OF bust
ness. St. Paul opened on LIZ per cent, but
found good support At this reduction, con-
tinuing steady up to the close OF business.
Atchison was depressed IS per cent. North
ern facine preferred 1-2 ana Missouri Pa
cine LIZ on operations by the room. The
greatest loss for the day was recorded In
Consolidated Gas. which sold on z per cent
on the marketing OF q few hundred shares
In the industriais Sugar and Chicago Gas
were the most active. and with opposite re-
suits, the former selling down IS Der cent
to "a 3-S and the latter gaining Der cent
70 ~ Is. In both stocks good buying was
noticeable. and IL IL believed that the larger
interests are anxious to push the recently
inaugurated campaign to a successful con-
clusion.
Washington sdvices on sugar are conflict
ing. but all contain assurances that no
radical alterations will be made to the Sen
ate schedule.
The question Of the next dividend on Chi
cago Gas win probably be disposed Of early
In the week. and lead to a renewal OF activ-
Of this stock. on ali CONCESSIONS by the pool
IL regarded a. indicating some advance as
surances Of Q satisfactory distribution Of
the company's earnings.
The short interest Is now large enough
to warrant q sharp rally should the bulls
regain sufficient courage to bid up prices
and force q covering movement. The bank
rupt stocks especially have been heavily
cold without limit but the wisdom Of con-
tinuing the movement 10 extremely doubt
full in the present condition Of speculation.
The tariff bill has been selected by the
bulls as q basis for their next campaign.
poses equally well. but In different degrees.
Until this legislative obstacle is removed
there will be neither activity NOR Improved
values
ed considerable attention during the week
and has been remarkably firm throughout
owing TO remittances OF July interest on
our securities held abroad. Bankers have
willingly advanced the money necessary to
meet these payments. because IL has been
impossible to place the money more ad-
vantageously at home. Considered In this
light. the loss of gold to Europe Is merely
transfer OF funds for which there IN nu
Immediate need on this side
The federal gold reserve. however, as a
means OF sustaining confidence needs at
tention and should be restored to normal
proportions.
The banks have gained S7s70OO ia law
ful money during the week. all In legal ten
ders. There IL also a gratifying increase OF
over Two and q half million In loans, which
with the increase lh cash brings she aepos-
It's up over 6OOp.0o. ami reduces the sur
plus reserve only &2l.eU. Today's heavy
eoid exports are not reflect ID In this weeks
weeks business
The statement in detail shows: Reserve
decreased. 81. 200: loans. Increased, sanIo.
oOo: specie, decreased. 81. 42e. 100: legals, in
creased. Sslo2Soo. and circulation. decreas-