Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-05-02
FINANCE AND TRADE
Various Rumors About Reading De-
press Its Price.
LATE NEWS As 70 TARIFF CHANGES
Friends of Sugar Trust Somewhat
Uneasy.
GENERAL MARKET REPORTS


Special Dispatch to The Evsnins Star
NEW YORK, May 2.-Dullness ana Ar.
regularity were conspicuous features I'm to-
days stock market. The covering move
ment begun at the close of yesterdays bust
ness was not renewed and prices sold on IN
consequence London was dun and lower.
Reading being the weak spot on reported as
sessment OF the stock and first preference
bonds. The price OF this stock In the local
market was depressed per cent during the
morning by operations for short account.
Traders were disposed TO attribute the de-
cline to the efforts of insiders 20 force n
funding Of interest on the general mort
gage bonds for five years. in order to facili-
tate the process OF reorganization
The Changers sold of fractionally, a de-
cline OF VI per cent in St Paul representing
the greatest loss. The termination of the
Great Northern strike encourages the be-
lief In a brighter outlook for western roads
The bears have lost all OF their former
aggressiveness. and in the absence OF any
decided pressure hesitate to increase their
lines OF short stock. Reactions. as the natu-
raj consequence of higher prices, are prac-
tically their only hope for profitable trading
In this market
Further complications In the tariff situa-
ton are reflected in the action of the
list That the friends of sugar are less
hopeful is evident by the fact that initial
figures reflected a decline of IL per cent
followed by further reduction OF "a TO
104. From this point the price was ad-
vanced per cent. but again yielded TO the
pressure and sold down. The ultimate re-
suit Is probably not In danger, but the dis
cussion is to be reopened and certain pet
pre1udices again overcome by the argu-
ments OF those favoring the revised bill
National Lead opened of fractionally, but
sold up IA per cent TO AZ. at which point
selling for both accounts depressed the
price per cent.
Distillers was weak on inside selrsns..
resulting In a decline of Is -er cent
Chicago Gas sold up 1-2 per !. n 20 % IA
on the report that the COT lad refused
to entertain the quo warran action
The market for sterling nc continental
bills was strong at unchanged rates with
slight indication OF a shading 81 from pres
ent figures. The supply o. al classse g
commercial bills is small. viii a far densnd
nothing. but indications point 20 G n heE
loss of gold as the result Of the scaat oI1r-
ings Of bills. None OF the foreign house.
SO far as known. have taken any fie L9r
shipment but admit the Irohaoiiis' ~ -
doing.
The net amount OF these consisnr1 j
variously estimated to be between : ~. 80
and 5000 600. The feature OF the asf frurn
business was the activity in Lead. ttaT
from Washington rumors 70 the effcet enet
White Lead had been put back at the old
rate OF IL per cent instead OF 2, as an
nounced last week.
that the proposed dividend. at the rate Of
4 per cent would not be paid These rumors
are not likely to exert an extended IN
nuence on the value OF this property. A
sudden buying Of sugar "a, at ,s ,he a.S close
This squirt is supposed 70 be the result
of favorable Washington dispatches. The
closing was dull and steady.