Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-02-02
FINANCE AND TRADE.
Stocks Did Not Fall, as Was E1-
pected.
WILSON BILLS PASSAGE DISCOUNTED
Gossip About the Dividends of the
Sugar Trust.
GENERAL MARKET REPORTS,
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, Feb The action of to-
days stock market proved conclusively that
the effects of both the tariff bill and the
bond issue had been previously discounted.
The room expected a break in the indus
trials. especially in Sugar. but beyond a
temporary hesitancy at the opening. as to
which course to take prices advanced
steadily, and In some instances surpassed
yesterdays best figures. A fractional ad-
vance in the price Of raw Sugar, due to
heavy purchases by Canadian refiners, is
expected to improve the price Of refined be-
fore the demand ceases. This fact, coupled
with the nervousness of the shorts, served
to hold Sugar fairly steady during the
morning hours. even in the face Of yester-
days legislation.
Authorities agree that the Senate will
make no radical alterations in the tariff
bill as sanctioned by the House, and that
help from that quarter is now impossible.
In view of this condition Of things attention
is now directed to the probable action of
the stockholders at the meeting called for
this month. A suspension of dividends
pending the SeEate's action Is among the
probabilities. but people familiar with the
figures representing the company's surplus
are confident that dividends at the usual
rate could be continued with sugar on the
free list for the next two or three years.
From present indications the market will
drag along in its present lstless fashion
for some time to come Traders are the
only ones interested to all appearances and
manipulation serves their purpose almost
as well as the more substantial speculative
motives
The selling movement in Western Union
continues to attract attention. The bears
are assured beyond the possibility of a
doubt that the dribbling out of small blocks
Of this stock. aggregating nearly 23OOO
shares, within the last few weeks Is the
long holdings of inside interests, who are
borrowing the stock merely to create the
impression that II is short stock. Opinions
differ on the subject, however, and parties
closely identified with the company are
equally positive that such is not the case
and that inside interests are in no way as
ISOLATED with the recent decline.
The market for sterling exchange contin-
ues firm on a moderate vo ne OF business.
The supply of cotton bills is still unusually
SMALL and indications do not point to any
improvement in this respect.
The banks have lost to the subtreasury
during the week about S25OOOOO The re-
ceipts at that institution during the same
period were SIS, .039. including $6249OoO
currency from Washington and 81. $50 oUo
certificates issued. The payments were slI-
GIL ,693. including s., $4,000 currency shipped
to Washington and $4,000 gold certificates
redeemed.
There were also s14.35O Pacific railroad
bonds paid. Today's report of clearing house
transactions shows exchanges, s9S.SI1 $50:
balances; ss.364;a and the subtreasury's
debit balance $5SO.5S
The last hour witnessed the highest prices
Of the day, and the general tone of the mar
ket was strong and confident. As usual
covering was the only reason assigned for
the strength and no important additions
were made to the long account.
The closing reflected fractional gains over
Introductory figures.