Evening star., 1894-02-16
FINANCE AND TRADE.
Bears in Burlington Suffered for
Their Distrust.
ANOTHER ADVANCE IN SUGAR TRUST
This Stock influenced Entirely by
Washington Advices.
GENERAL MARKET REPORTS.
peCi.l Dispatch 10 The Evening star.

special Dispatch 10 The Evening Star
NEW YORK. Feb. l6.-Pricss were ir-
regular at the opening OF today's stock
market and the sentiment OF the room
oearlsh. London was dall and traded mod
erdtey IN our market without influencing
prices Chicago houses sold the Grangers
on rurther decline in wheat ana the prob
apie decrease in Burlington's dividend rata
Inc latter presumption proved expensive
iater IN the day, when the announcement
OF the regular ! IA per cent was made ana
the pears in the property driven to cover.
After opening at "a is the price fell OF
10 Is "a, and subsequently rallied to Is LIZ
under the demand from shorts. The ad-
visability OF continuing the old rate is q
mooted point In financial circles. a. the af-
fairs OF the company In the opinion Of
many do not warrant it. even though the
present disbursement comes legitiraately
out of the earnings Of the last quarter.
The next dividend. however. is sufficiently
uncertain TO Justify stock kholders In liaui-
dating present holdings and Investing the
proceeds in other securities whose diyi-
dends are less speculative
outside or the bond market securities Of
the latter class are not abundant and can
BE- had only at fancy prices, so that th,s
new prospectus OF the bears may be a.
defective I'm reality as many that have
gone before.
Sugar held remarkably well constdcrt NJ
yesterdays liquidation and gained 1 per
cent on considerable activity 20 10 5-S Tn.
action OF this stock .s influenced almost
entirely by Washing gton advices and the
price is easily affected by the character
OF these reports. While considerable OF
the POOLS long stock changed hands on
yesterdays raid the old-time interests are
still In control and may. after their usual
fashion. make the shorts IN the property
paw dearly for the privilege OF making
deliveries.
ST. Paul gained Ia per cent on cover
ing and Rock Island for the same reason
gained I Is per cent
The Improvement made after midday
was due entirely to the efforts of the room
to buy back stock sold earlier In the week
and does not reflect any expansion IN
speculation or increased demand from In.
terests outside Of Wall street.
The figures representing the actual
changes in the cash holdings OF the Gsso-
ciated banks for the present week are OF
little Importance as a forecast OF tomor-
ments made for the new per cent bonds.
Many private institutions. savings banks
and indivuals have made payments INTO
the subtreasury which cannot with any
degree of certainty be separated from sim
liar payments made by the banks. Esti-
mates for the month. however. show that
the banks have gained about 2.5So.Op
from the interior and their loss through
same amount.
The clearing house statement today shows
exchanges sIS. .soI. balances $.S1y. &c;
and the subtreasury's debit balance $685.
pa.
Money rates continue at per cent on call
and 1-2 to 3l-2 on time. The sterling
market rules firm, with the scarcity OF bills
still pronounced and no special demand
from remitters. Speculation dropped back
into dullness during the last hour. but prices
held well at fractional gains over opening
figures.
The premium list gives undirputed evil
dences of a large short interest. which
sooner or later will be the cause of consid-
erable nervousness to the bears but be-
yond this ana the general nerrowness o.
speculation there IL little in the situa ton
to encourage the deposcd bulls.
Break in the Wheat Market.
NEW YORK, Feb. 1c.-The wheat market
opened steady. but soon broke under heavy
liquidation and local selling May ceclned
to &c. This is the lowest record. heating
yesterdays low price by 3-l6. TIE market
reacted later. and a steadier feeling pre-
vailed at noon.