Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-08-31
FINANCE AND TRADE
Various Causes Combine to Favor the
Bears.
ALLEGED PLAN OF THE SUGAR TRUST,
Prep ,sed Effort to Win Popular
Confidence.
GENERAL MARKET REPORTS


Special Dispatch to The Eveniag Star.
NEW YORK. August 3l.-The bull en-
thusiasm at the close Of yesterdays market
was less pronounced in today's trading, ow-
ing to the irregular tone Of London specula-
ton and the approaching holiday on Mon
Cay. The discouh ting Of the latter event led
to q general evening up of contracts for
both accounts. The sentiment Of the room
was generally bullish. and would have re-
suited In improved values but for the COM
bination Of the above circumstances. There
was no important business outside Of the
pi OCCASIONAL element. and even that was
contracted
The grangers attracted the most attention
In the railway list. and were inclined to IT.
regularity. Burlington sold up fracttonally
on initial transactions, but yielded is Der
cent on selling by both classes of operators.
st. Paul sold OF Immediately after the open.
Ing. but was well held on a moderate buy
Ing demand later In the day. Rock Island
lost l Is per cent on further selling by
prominent bear interests. The balance OF
the list varied fractionally on either side
Of closing figures. but in the main was
steady throughout the day.
This manipulation in the tndustrials WA.
largely In the interest Of lower prices.
Some excitement In sugar at the opening
resulted In q simultaneous interchangine Of
stock from 10! to l00,t. The price rallied to
1O7, but continued selling up to the noon
hour forced q decline Of per cent TO IO5
on rather free offerings At the latter prfce
the decline was checked by liberal pur-
chases for both accounts. Recognising the
difficulties which will beset this corpora tion
at the next meeting Of Congress. 1t 10 now
believed the inside interests have agreed
upon a plan Of procedure which will aim
AT tne removal Of the popular prejudice
against the company. 1t IL thought that
has he
strating that the benefits derived from the
recent tariff bill have been oyerestimated
In order to add color to the proposed action
a reduced dividend may be substituted for
tne extra one predicted few days ago. No
mat,et wnat Is agreed upon by those inter-
ested In the Affairs Of this company specula-
tion In the stock promises to be In keeping
with the cratic records OF the past.
National Lead sold down 7-s per cent ON a
fair volume of business General Electric
sold up IS per cent to Al during the
an mo = but reacted on later selling to
Chicago Gas was steady around op.n,n.
figures and showed no indication Of pool
The heavy customs payments during the
week have resulted In even greater iosses
to the local banks than last week, when
reflected In the weeks averages. The best
estimates put the loss at $7.OO0.OOO
The week has proved q disappointment
70 the bank and treasury ofi1cials owing
movement to the west. which had been con-
ndently relied upon to increase the loan
account and restore interest rates to q more
profitable basis. Receipts OF currency from
the interior has resulted in q gain OF about
u .OOOpOQ- to the banks.
The last hours trading was without spe-
cial feature. Sugar continued to monopoiize
the bulk OF trading, and the general list
was dun at fractional concessions for the