Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-03-03
FINANCE AND TRADE
Sentiment of the Street Growing
Brighter.
A Big SUGAR DEAL GOING 0
The Expectation Of Gold Lost
Sight of.
GENERAL MARKET REPORTS.
special Dispatch to The Evening Star

Special Dispatch TO The Evening Star.
NEW YORK, March 3.-Stock values de-
veloped considerable strength in today S
market on a moderate amount of trading.
The room was inclined TO work for a frac-
tional reaction, but buying orders were too
numerous. and prices would not yield
easily. London was steady, and traded
moderately on this side. without affecting
the course Of prices
The sentiment of the street is daily grow
ing brighter. and operators are encouraged
by the prospects of continued improvement
ana slow recovery to normal conditions.
Some covering in sugar and moderate buy
ing for long account marked up the price
of that stock to VI. around which figure it
found excellent support up to the close OF
business. The shrewdest operators are
watching sugar with unusual interest. as
one of the largest deals in recent years is
almost hourly expected to develop in this
property.
The probable reporting of the Senate
I1nance committee on the tariff schedule
next tuesday, and the company's action
on its dividend, set for the same day, is a
union OF two strong speculative factors.
As to the dividend, there can be little
doubt that 1t will conform to the character
OF tne proposed legislation In the event Of
slight protective tax on sugar, and the
continuation of the regular IL per cent
dividend. all previous high prices will be
ecilpsed. and speculation of the most ad-
The buying today indicated that some
favorable advices had been received from
Washington, and operators close to prom
inent interests were quietly picking up the
STOCK. Inc covering movement in Distillers
resulted In gain OF ] per cent to p "a
Notwithstanding the present nervousness
OF the bears. the price of This stock is ex-
pected to reach a much lower level
(SrAnRorS nndar fha l1oA -
81. Paul, were all strong and fairly active
st. Paul gained IA per cent on the an
nouncement that its earnings for the fourth
week this month had only decreased Sos OOO
instead Of $4,000 as predicted. Burlington
advanced 1 per cent on covering to as 3-s
IS 7-s
Yesterdays engagement Of gold for ex-
port has been lost sight of as a factor in
speculation as the margin OF profit is too
small to warrant further shipments.
The foreign exchange market has been
unusually narrow during the present week
and rates were made to conform to the
needs Of remitters. Any falling of In the
demand recorded a corresponding decline
In rates. The receipts OF all classes Of
commercial bills from the interior were
meager. cotton drawings especially de-
creasing in supply. The importations Of
raw sugar have been on rather q large
scale and this resulted In some slight
stiffening up in rates at the close OF the
week.
The banks have gained about s73oo0O
in lawful money. but q decrease In loans
Of nearly two millions more than offsets in
the deposits, which are q tribe over 81 Co.,
600 less than last week. The decrease in
this last item reduces the reserve require
ments about $75O.000. and makes the in
crease In surplus 81 600. 900. The state
ment in detail is as follows: Reserve in
creased. 81 oil 400: loans, decreased, 1884,
200; specie. decreased. $3.50. 300: leeals. IN
creased, $780, 400: deposits. decreased,
LOCI 200. and circulation, decreased. s23,-
600.