Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-07-17
FINANCE AND TRADE
Wall Street Watching the Tarif
Conferees' Work.
SPECULATION NARROW AND IRREGULAR
Some Selling of Chicago Gas Trust
Caused.
GENERAL MARKET REPORTS

Special Dispatch to The Evening star
NEW YORK, July 1.-THE lack OF unity
In yesterdays session Of the congressional
conference committee being regarded as
Indicative Of further delay in passing the
tariff BILL today's speculation was narrow
and Irregular. Early prices were about on
parity with last nights closing. and IN
the railroad list gained from Ia TO l-2 per
cent on later trading. There was no special
news TO fnnuence prices In this depart
ment beyond what ie generally regarded as
satisfactory termination OF the recent
strike. The undertone was strong, all
things considered. and a moderate continu-
alton of yesterdays buying movement was
noticeable during the first hour. The in
change In the tenor Of tariff advices. Sugar
ana Distillers being particularly sensitive
to all rumors on this subject
Sugar opened strong on liberal purchases
to 10 rs. Later, on the announcement that
the conference committee had decided to
report disagreement the price was quick
~ depressed per cent from above figures.
Buying orders came IN promptly at the de-
cline, and per cent of the loss was almost
Immediately restored. There IL no change
In the sugar situation. and the influence OF
this conanodity on the tariff bill a whole
Is still as potent as ever. The refining in
terests must be given the protection OF the
Senate bill. or its equivalent or the McKin-
icy OIL Hust commune IN operation
DistIllers sold down 3-s per cent to Is 70
on continued selling for both accouuts nqui-
dalton OF long stock now being easily de-
tected. While purchasing few hundred
shares through one firm OF brokers IN order
70 sustain the price the pool n believed to
be selling heavily through another.
The action OF the city council Of Chicago
AZ last nights session. granting . franchise
70 an independent gas company, caused
some early selling Of Chicago Gas Friends
OF the latter company supported the price.
however. end the decline did not extend be-
yond "a per cent II II argued that the
ordinance II merely another link IN a long
chain Of attempted adverse legislation
fate OF all It's immediate predecessor, the
mayor being relied upon to veto II upon
receipt.
Renewed attacks during the afternoon re-
suited In q further decline Of Ia per cent
IN the price OF this stock. the trading IN the
main being professional The market for
sterling and continental bills opened steady
on q small volume Of business. There were
no important changes from yesterdays
rates and general conditions. Bankers pre-
dict . sharp decline In rates a. the only
movement Of any consequence likely to
occur within the next few days
The last hours speculation resulted in .
general yielding IN values Traders sold
the market IN anticipation Of complications
IN the tariff situation and on the belief
that the rally had reduced the short In
terest sufficiently to warrant renewed SELL
ing for quick profits. The regular HIST
showed small fractional declines for the
day and nlAl figures IN the industrfals
were irregular, with some tendency toward
weakness.