Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-06-05
FINANCE AND TRADE
Sugar Stock Rose After the Vote
in the Senate.
GREAT ADVANTAGE TO THE TRUST
No important Changes in the Reg
ular List.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. June 5.-Today's market
opened strong at fractional gains through
out the list Sugar was the center of at
traction. and opened strong at a gain Of
3-S per cent over yesterdays final figures.
After further gain Of ! per cent, to iOc,
at which price the stock was given excellent
support the advance was suddenly stayed
to await the Senate's action on the sched-
ule. The buying during the morning was
by brokers identified with every rise Of re-
cent date. and is believed to have been for
inside interests. AS usual. the trading was
conducted on a most liberal scale, large
amounts being quickly absorbed by the
inaugurators Of the advance. rise of rs
per cent from previous high figures followed
the announcement that the Senate had
agreed upon January 1, 1895, as the date on
which the schedule should become operative.
This is a decided advantage to the trust as
1t gives 1t the privilege of importing raw
sugar for six months under the provisions
of the existing tariff bill.
From this clause alone as has been
pointed out in the several speeches made
against the adoption of the schedule the
company will derive an enormous profit.
II the figures representing the present
earning capacity Of this corporation be
true, as reported by these Senators opposed
to the adoption of the schedule the present
market price Of the stock is a very unfair
estimate of its intrinsic value.
Chicago Gas sold down i per cent on
continued realizing sales to "a. The pool
brokers express satisfaction with the out
look for q satisfactory determination of the
overhanging law suits. and are still con-
fident OF the. success of their campaign.
/ The balance of the industrials were steady
on a small volume of business.
In the regular list there were no impor-
tant changes Nashville sold down 81 per
cent. and Rock Island lost 1-2, but changes
elsewhere were represented by smaller
fractions. Northern Pacific reports a de-
crease of s4l1,sOe in earnings for last
month. These weekly reports have ceased
to attract the attention of traders, and few
operations ere at present based on items of
this character, which, In a broader and
the price of the stock several days before
publication. Decreases are expected for
some time to come. but there Is the encour-
aging assure nee that the amounts will grow
steadily smaller.
There were no noteworthy features in to-
days market, for foreign exchange rates
were steady and the volume of business
light The supply of bills is light, but is or
set to some extent by decreased inquiry
from remtters. Gold will go abroad during
the balance OF the week. but present indi-
cations are not favorable to large amounts
The discussion Of the sugar schedule un-
der the ten-minute rule deprived specula-
ton OF valuable incentive during the last
hour of business.
Advantage was taken Of the delay 10
force the price OF sugar certificates down
to 1o4 81. The decline was only momen-
tary, however, as buyers Were soon at
tracted by the lower figures Trading In
railway shares during this period was dull
and unfmportant- Prices at the close were
figures.