Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-05-11
FINANCE AND TRADE
Sugar Continues in Its Prominence
in Wall Street.
WASHINGTON ADVICES ON THE TARIFF
Prospective Gold Exports Do Not
Affect Prices.
GENERAL MARKET REPORTS
special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. May 11.-Today's stock mar
ket was disappointment to both classes of
operators by reason of its narrow and
apathetic movements. There was not the
slightest attempt at activity during the
morning and In many instances first figures
remained stationary. London was fraction
ally higher. but did not figure in our market
to any appreciable extent. The railroad list
was steady at small fractional gains.
Traders worked for a reaction under cover
of the dulness. but even this was not sue
cessful.
Washington advices on the tariff situation
reflected some doubt as to the probable
passage of the tariff bill. This view was
expected to produce a favorable effect on
the industrial stocks. but the inside interests
showed no disposition to act and traders
hesitated to proceed on their own account.
Chicago Gas was advanced 3-4 per cent
on considerable good buying. The transfer
of the quo warranto proceedings to the
federal court is regarded as furthering the
compaDys cause. and encourages the belief
in its final triumph.
Sugar was sufficiently active to support
its claim to the first position of prominence.
but on a narrower margin than usual.
Friends of this property have conceded
none of their original optimistic views and
are still confident Of an early vindication
of the same. 1t Is srgued that the present
schedule will become a law, or leave the
Mckinley schedule operative. In either
event the company's profits are assured.
The early trading marked up the price l-2
per cent, but later on some selling IL was
depressed j per cent below opening figures.
The industrial group were all fractionally
lower during the early afternoon, but with
out any increase in volume of business.
The market for sterling and foreign ex-
change generally was strong, with the de-
mand in excess of the supply. The amount
of gold to go out by tomorrows steamers
tons. Nearly all of the gold exporting
houses have announced their intention Of
sending gold TO their European connections.
These announcements were previously dis
counted by the room, and were not re-
iected in today's stock movements.
Tomorrows bank statement will probably
show a further expansion in loans, bat not
TO the same extent as last weeks. The net
changes In actual money held by the hank S
are not likely to be at all significant The
receipts from the interior are estimated at
10000, 900. and the subtreasury gain will
gold exports. amounting. in round numbers,
to 100000 will be charged of on tomor-
rows report. The amount OF specie held BY
the banks is likely to attract considerable
attention, owing to the fact that notwfth-
standing previous exports, last Saturday 5
figures showed that the banks had increas-
ed their supply of gold.
This is taken as indicating a settled policy
on the part of the banks to protect their gold
The wisdom of this action. in view of last
summers experience. is regarded as doubt
full. The last hours trading was dun nd
uninteresting. Prices shaded off Slightly
and closed without material changes for the
day.