Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-03-08
FINANCE AND TRADE
Washington Advioes Controlled the
Speculation.
SUGAR NEE WERE DISAPPOINTED
The Tariff Report Not Entirely to
Their Liking.
GENERAL MARKET REPORTS.

Special Dispatch TO The Evening Star
NEW YORK, March s.-DuIlness and ir-
regularity were conspicuous features at the
opening of today's stock market. and at no
time during the session was there connplete
harmony In trading. Sugar again led the
list I'm point Of activity and early deyel-
oped a marked tendency toward weakness.
which before the noon hour had depressed
the price l-2 per cent to ~ IA. Realizing
ana some selling by brokers. usually in the
employ Of inside interests. started the de-
cilne' and the room, with its usual prompt
ness assisted the movement
Inc schedule as agreed upon by the Sen
ATE committee is not as satisfactory as was
anticipated owing to the omission of the
coior test which. by the way, is the only
.niiis the trust asked for that was refused.
Inc DENIAL of this request is now regard
ed as being decidedly adverse TO the trusts
interests and precipitated today's decline.
The best information however seems 20 he
that legislation more direct and rigorous
than this will be required to seriously i'm
pair the earning capacity of such a COM
piete monopoly as the sugar people now en-
JOY.
National Lead was fairly active through
out the day and with varied fortunes ON
early trading a gain OF 1 as per cent WAS
recorded and subsequently, the price sold
down to opening figures, due 10 realizing
on stock bought at the beginning of the
rise several days ago.
The short interest in Distlilers developed
sudden nervousness on the announcement
that tax of sl.l0 per gallon would be
imposed on imported spirits and In the
effort TO cover the price was run up per
cent TO "a 3-s. The short interest In this
property is still large and 1t Is a significant
fact that the larger operators showed no
signs Of weakening at today's advance.
In the regular list some important adj
vances were made, the most noticeable OF
which was a gain of 5 per cent for Con-
solldated Gas on good buying for local ac-
count Delaware and Hudson gained 2
per cent to 13f l-2 and New Jersey Gem
trail gained "a per cent to III "a The
Changers reacted during the morning. with
the exception of Rock Island, which held
well around 30. ST. Paul was sold OF dur
ing the morning by traders, but rallied
later on a renewal of he rumor that the
next dividend would be paid at the old
rate
The market for sterling and continental
bills opened firm with q slightly easier tone
for long sterling. Rumors OF gold shipments
by next Saturdays steamer, aggregating
from three to 1--WE millions, were circulated
during the afternoon. but could not be veri-
fed. Money continues in abundant supply
cent for time loans. The manipuls ton Of
sugar continued throughout the closing hou-
during which time the lowest prices of The
day were recorded. The usual inside stock
jobbing process is now fairly under way and
IL is impossible to predict what the next
move will be.
Eventually, however. the price OF this
property will be quoted at figures far in
advance of those now prevailing. The reg
ular list was but little affected by the
days trading, concessions being only frac-
tionaL Later trading lacked character and
was confined mostly to the room. St. Paul
directors declared the regular semi-annuai
dividend OF per cent on the common and
IL per cent on the preferred stock. but
the price of neither was improved by the
announcement. the market closed dull
and Irregular with prices generally lower.