Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-08-24
FINANCE AND TRADE
Realizing Sales Prevented Material
Advances in Stocks.
LONDON Was A MODERATE BUYER.
Temporary Reaction in Prices is
Looked For.
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star.
NEW YORK. August 24.-Realizing sales
at the close of the week. prevented any
material advance in prices this morning.
but did not alter the generally firm tone
of speculation. London was fractonally
above our closing, and bought moiera tely
of the more favored international secu-
rites. 1t is believed tnat d temporary re-
action must soon follow the weeks i'm
provement in values, ana traders especially
show a disposition 10 take profits on every
rally, in anticipation vi such An event. On
the other hand, the bulls a-e willing 10 lay
liJeralIy on all concessions, 50 tI4t ;ae best
arguments are in favor OF higher prices,
with only tie natural setoacils incident 10
such Improvement
The street has settled down to the con
victi0n That the IarII bill Will become a
law under the ten-day limit, ana is seeking
speculative incentive from yEaiiins .uoi-
ness conditions These conditions. IL = en-
couraging TO note, show "a steddy growth
in the right direction.
Crop reports are not favorable 10 roads
dependent grain IraI!ic Ivr Increased
earnings, out the nIaJ,I1ty II reads doing
larae miscellaneous business re IN q fair
way to retuJe recent decreases II these
Items. Burlington proved an exception 10
balance OF the granger group J,day hy
selling of ] pc" cent ca realizing sales an /
a renewal OF short selling. st. Iaui and
r. ok island gained So and - per cent re
SpeCtively On moderate ira ling.
Manhattan is in good demand Tor invest
nlent account, holding well AT Nss .era.y >
advance in price. Il II SIate1 Oh = pus af.-
thpr4ty that negotiations are pen,aug b"-
tween the Metropolitan Traction company
ana several CT The larger holders of Aan-
halt2n for the purchase OF their interest in
the latter company. This would give the
former company the Necessary power to
8, ~.
tenn. ana for this reason it is likely that
the negotiations will result in uotl ing 50
advantageous To only one of the parties in
interest.
oli-time popularity with investors, and is
fielding well under good buying from such
sources
The InduStrials We're somewhat irregular
In their action and less active than former
ly. Distiilers sold up an additional IL
per cent on covering, and the continued
buying by friends Of the company The
delay in sisnirg the tariff biz! Was "A for
tcnate one for this company as IL Is be
Eeved the money necessary a. release Spir-
It's in bond has been secretly raised during
the last few days. The additions thus ma,i,
10 the interest account are likely to ford
the bears an opportunity to resume their
attacks To mere profitable advantage later
in the season.
Sugar was sold down IL per cent i'm
mgaiately after the opening on orders el-
ecuted by inside brohers bat rallied TO
opening figures On later trading Trans
actions in this stock have fallen off con
sidcrably in the last few days. as a result
or ITS having reached a price Sufficiently
fish for the purposes Of the manipulating
interest. American Tobacco MAS forced Nh
}-S per cent 10 1893, but Immediately sold
off on realizing.
Chicago Gas gained 81 per cent as the
result OF a well-circulated r'Imor that the
new bull pool would shortly begin a stock
accumulation.
Inc market for foreign exchange opened
weak at reductions of Isl 10 Lilo IN SER
mig rates and lie TO Is in continental
bills. Free offerings of bankers bills
AGAINST stock purchases are respon sibie for
the declining tendency.
Tonlorrows bank statement will show a
considerable reduction in reserve as the
result or extensive subtrezsu-y operation
which reflect a loss to the banks OF nearly
sn,oSsD. Large treasury credits at the
clearing house, due TO receipts for customs
ana internal revenue are responsible for
the loss.
The withdrawal of whisky from bond in
order to take advantage OF the new tarin
PROVISION hSIres for large proportion of
the treasurys gain. The receipts of cur
rency Nom interior points will show a gain
OF probably more than S1oouop
The last hours trading was fairly active
ana, with one or two exceptions reflected
fractional additions TO initial figures.