Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-05-23
FINANCE AND TRADE
Industrials Lead in an Upward
Movement.
WHAT THE FRIENDS OF SUGAR PREDICT
Chicago Gas Started on an Ad-
vance.
GENERAL MARKET REPORTS
special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, May 2s.-The nervousness OF
the bears was turned to profitable account
this morning by the opposition ana better
prices prevailed throughout the entire list
Like all recent rallies not based on leeisla-
tive forecasts, the shorts defrayed the ex-
penses. The upward movement was not
wholly uninterrupted. however. as the bears
fought desperately to maintain their hold
or the situation. The sentiment Of the room
ana the scant supply OF borrowable stock
we're factors too potent to- be overlooked
and prices were gradually forced toward n
higher level
The industrials led the advance and soon
had the entire list in sympathy with them
and general covering movement in rapid
progress. Sugar was heavily traded in, as
usual. and was advanced 1-2 per cent on
the covering of a long line Of stock put I'd
at the close of last week, and continued &C
cumulation by inside interests.
The interests of this company are being
carefully watched in Washington, and ali
adviees contain assurances OF a successful
termination of the tariff controversy.
IL is reasonably certain that no schedule
VIII be passed that will detract in the
slightest degree from the protective fes
lures OF The one now under consideration
IN the Senate bill. IL any alterattons ara
mace, they are not likely to reduce the
aIheuht OF revenue the government expects
10 derive from this source
Chicago Gas advanced ? per cent IN nur-
chases by Mr.. Keene in the Interest q, /.
strong bull pool Under the lead ership OF
tnls experienced operator the price OF This
STOCK was marked up TO 81 during the frst
quarter OF last year. and IL is now hoped to
gupncate, II lot eclipse, all previous records
mere are many believers IN the future OF
this property, and should the pending ono
warranto proceedings be successfully dts
posed or, as now seems probable. there will
be few obstacles in the way of the pronoSed
scheme.
In the regular list the Improvement, was
OF a very substantial nature varying FROM
IL TO per cent. The Changers were an in
line for smart advances, due TO COVERING on
the prospects of sa isfactory adiustrnsnt
OF rate troubles IN the west. The sstrls-,,a-,
OF the coal strike was also strong fsc.or
IN the afternoons trading
w estern Union was marked IN "A r.r
cent on buying by the short element
While surface indications were decidedly
encouraging, IL is doubtful IL the fr,,n-ox-a
ment in the railroad list will CONTINUE fsr
beyond the point necessary to cover short
contracts The industrials, drawing their
strength rom special sources and un-
hsmpered by the compulsory publication on
earnings, possess advantages which from
present indica tions are reasonably sure ~
producing good results
The amount of gold engaged for shiprnent
by tomorrow's steamers is estimated al
sl,seooO, and viii be followed by further
Withdrawals on Saturday.
The last hours trading was the strongest
and most spirited of the day final figures
showing net gains in both classes OF Sc
curities.