Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-08-07
Discouraging Advices Send Down the
Changers.
"PLUNGERSARE LETTING SUGAR ALONE
No Further Engagements for Gold
.... Shipments.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. August AFTER a three
days holiday in London prices from that
center came fractionally lower than our
closing prices of yesterday, but, at the same
time. showed advances ranging from l-2 to
l-2 over the last prices recorded abroad, on
Friday Of last week. but they were not dis
posed to do business here, owing to the
tariff muddle. and save for a limited order
In ST. Paul and Louisville and Nashville
took no Interest in the speculation.
AS on yesterday, the interest In our mar
ket at the opening centered In the granger
group and the weakness noted at yester-
days close was. IL anything, intensified. A
private dispatch from the president Of one
Of the leading granger roads was circulated,
and quoted him as admitting that the sit
uation in the west looks very bad" Con-
sequently, after opening about closing sales
of yesterday, the bears became active, sell
ing Rock Island to 62 IS and Burlington
to 40. which price is very close to the panic
quotat ton of 1893 st. Paul was a conspic-
uous exception, and was held well In hand
by its friends
The weakness In the grangers, while II
held the rest of the market In check, was
not otherwise reflected in the active list.
In fact, Louisville and Nashville, Telegraph.
Missouri Pacific and Richmond Terminal
purchased for London account, and Tele-
graph and Missouri Pacific taken by brok-
ers who have in times past acted for the
Sage-Gould party. Terminal is growing in
favor because of the brighter outlook for
the final success OF the latest reorga mia
ton.
Sugar was only a second choice" and
while the price has held very firm, the fuc-
tuations have been -discouraging to the
''plunger' element who have recently been
so active Ia the stock
Chicago Gas has held very steady on mod
crate transactions, and the feeling in the
room is that the pool is again disposed to
do business
The street" was fairly plastered with
points to buy Distillers this morning on ac-
count Of the saving Of twenty cents per
gallon by paying the tax before the new
tariff bill Is passed" but IL was noticeable
that the same tactics were used by brok ers
supposed TO represent insiders to dispose OF
the stock around ID that have become 50
familiar Of late. 1t opened at 10. where a
few sales were made. when II broke sharply
to IL 7-s. rallying fractionally to Is 3-s
The other industr1als were entirely reg
lected.
No further engagements Of gold have
been made and the more important foreign
houses are disposed to think that no more
will go out this week. as the market for
sterling and continental bills is distinctly
easier. with quotations from 1-32 to 1-18 be-
low those OF yesterday. The weakness Il
nov oue 10 any increase IN the fuppty oil
bills, but to a falling of in the inquiry
from remitters.
Actual rates for sterling are: Cable trans
fers. 4SS IA and ASS IL; demand, ass and
4.SS Ia; sixty days, 4s7 IA and 4S7 l-2
The market remained dull, even to stag.
ration. until just before the delivery hour
when the story was circulated around the
room that there would surely be no agree.
ment on the tariff bill. Sugar was natural.
ly the first to feel the effects Of this rumor
and on buylng for both accounts advanca.i
rapidly from los IL where il held listlessly
all day. TO .l07I4 closing strong at the
advance.
The other industrials. excepting Distillers.
sympathized with Sugar. and the railroad
and telegraph list Joined, In the upward
movement. and the market at the close was
strong. at advances ranging from l-2 10
L. per cent above the days lowest prices