Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-06-25
FINANCE AND TRADE
Speculation Was Dull, With a Bear
ish Tendency.
BANKS WILL CLING TO THEIR GOLD
Inclined to Let the Subtreasury
Stand Its Losses.
GENERAL MARKET REPORTS

Special DISPATCH to The Evening Star.
NEW YORK. June 25.-Today's markc;
was dull and unsettled with the sentiment
Of the room decidedly bearish on the i'm
mediate outlook. The continued outflow OF
gold Is largely responsible for this complets
change in speculative sentiment. The banks
are unwilling to continue their policy OF
making good the losses at the subtreasury
ana Will compel further inroads on ;he
rapidly decreasing gold reserve. This. of
course, Will increase the growing uneasiness
abroad. and foreigners will come into our
market as sellers Of our securities, demand
Ing gold in payment. This, OF course is the
argument OF the bears, carefully reiterated
at the opening Of every session but MANY
OF the more conservative foreign houses pre-
dict gradual falling OF in the amount of
these shipments. Unfortunately, however.
the professional element now composing the
narrow speculative market have adopted
these pessimistic views and are likely to
force slight concession in valuse
Advantage was taken OF a lower London
opening to sell stocks this side but
without marked success. At midday in a
majority OF instances fractional gains were
recorded in the regular list. Union Pacific
was marked up "a per cent on covering
ana the Changers gained from l-2 TO "a
per cent on moderate trading Reading
was freely sold for a loss Of is per cent as
the first step toward a general bear move
ment against all the coal roads. Earnings
reported during the day were uniformly
encouraging, but attracted little attention
The lndustrials were steady with the ex-
ception OF Chicago Cas- which was bid up
at the opening for a gain of l-2 per cent
to 80 and promptly reacted to IS SIS, re-
covering slowly to a. at which price IL was
Wen supported. officials continue to deny
all knowledge relating to the company's
next dividend or the time OF hearing the
postponed chancery cases.
sugar sold up "a per cent to 9s l-2 and
reacted to opening figures. There is no spe-
ciai news on this stock at present but its
friends never permit their accounts TO show
total absence of long holdings National
Lead sold down IA per cent on moderate
traoing and Is the subject of much mixed
discussion as to its real value Distillers
was sold by traders for a loss of "a per
cent ana Is likely to show a fair profit on
that side OF the account.
The market for sterling ana continental
oiils opened dull and firm at unchanged
rates The supply OF bills from the intS-
fior was very small. About 81 10000 gold
Will be shipped on tomorrow's steamers
The last hours trading was dull and un-
interesting, with a few important changes
In price. The result of the DAVIS TRADING
was to add slightly to the value of railway
shares and produce irregularity in the in
dnstrials. Lead developing a marked tan
oency TO yield to every attack while the
balance OF the group remained steady
around initial figures.
French Exchanges Closed.
PARIS, June 25.-The bourse is open to-
day. but the corn exchange closed.
The exchange at Havre is closed and 50
are all the exchanges and similar institu
tons throughout France.