Evening star., 1894-03-02
FINANCE AND TRADE.
Sugar Men Now Look for the De-
feat of the Wilson Bill.
THEIR SPIRITS RISE ACCORDINGLY
Better Showing for the Railroads
Expected.
GENERAL MARKET REPORTS.

special Dispatch to The Evening Star
NEW YORK, March 2-Today's market
openet steady around closing figures. and
cohuhued strong throughout the morning
Lohuohs business was again insignificant
anu hao no noteworthy feature The senti-
ment or the street has changed decidedly
IN favor of higher prices, and commission
houses are advising purchases on all con-
cessions. Liquidation has run its course
all along the line. for the present at least,
and railroad officials are confident of in
creased earnings before the month IS out
The result will be obtained more from
strict economic measures than from any
real Improvement in traffic. but whatever
the method the stockholder will reap the
profit.
outside OF the Industrial list the effects
OF tariff legislation have probably been dis
counted. and the work of reconstruction is
well under way. and its result is sure to
be reflected in improved stock values.
Sugar again led the list In point of activ-
ity and was unusually erratic in its move
ments. Last nights buoyant closing brought
l out large number of selling orders at the
opening, which resulted in a l-2 per cent
reduction in price, to he followed sharply
by a falling Of OF per cent between the
first and second sales. At this point the
trading lost all character, and fluctuations
reflected considerable difference Of opinion
among traders. The price finally steadied
up around the noon hour In the neighbor-
hood OF "a l-2 and found some support at
those figures. Washington advices con-
tinue to proclaim the possibility of entire
defeat for the tariff bill now under discus
sion in the Senate, and on this belief
friends of sugar are buying the stock and
have temporarily lost sight Of what action
the committee may take in reference 10
their demands for a protective tax.
Distillers advanced ! per cent 10 Is 1-2
! nr today wa r.aS Sftu
in point of activity. The best Information
seems to be that the daily withdrawal of
the various companies now composing the
trust, and the doubt concerning increased
| taxation on imported spirits. should lead
TO a decline rather than an aivalce In
price. Manipulation viii be resorted 10 IN
order 10 make a good market for selling
purposes. and even in the face of adverse
/ conditions prices may be temporarily I'd
| vanced.
The Changers Were all strong again, but
no important gains were recorded. Western
Union retains its recent Improvement and
was comparatively active up to SO. The
whole list again contributed to the days
business and the trading in railway shares
was pretty evenly distributed. The best
estimates OF the weeks currency ship
ments to interior points places the aggre-
gate at S,2J0oO0. The receipts have been
heavy and the banks will probably show q
gain of nearly 100000.
! The manufacturing cities as far west as
! Ohio have been the principal shippers OF
currency. and this is taken as an indication
of renewed commercial activity. The banks
will lose about St0.0oo to the subtreasury
| for the week. but today's shipment Of ST.
80, 900 in gold will not be shown In tomor-
rows statement. This outflow of gold shows
SO small a profit to the shippers that banl-
ers say there is no likelihood o. further
| shipments in any considerable amounts.
Prices shaded or slightly at the close and
final prices were irregular, but generally
below initial figures.