Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-08-08
FINANCE AND TRADE
New York Spectators Skeptica
About Corn Reports.
FRIENDS OF SUGAR GROW ALARMED
Free Selling Causes a Drop in the
Price. ... .. ...
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star
NEW YORK, August s-Iondou pr,ces
came l-sal-2 above our closing, the market
there was strong, though no business was
ooing. and arbitrage houses reported q
lack Of foreign orders
Prlces on our stock market opened frac-
uonaliy under the closing prices of yester-
Gay. and while waiting for advices from the
chicago grain market traders were in
clined TO realize profits on their purchases
OF the Changers during yesterdays last
hour. the quotations OF which shaded OF
In consequence. Burlington as usual being
the largest sufferer. When the bewildering
quotations from the Chicago grain market
began to come. finally showing a break Of
% cents In the price Of corn and a sympa-
thetic slump in wheat. The room sentiment
changed and the early sellers became buy
ers, causing a rally to about opening figures
Operators In stocks. even those who are
bearishly inclined. very chary about
accepting the excessive estimates of dam
age TO the corn crop as furnished by west
ern spectators, and while admitting that
great damage has resulted from the hot
and dry weather !n certain sections. hesf-
tate to accept the measurements of the
corn pool.
The fizzle of the democratic caucus On the :
tariff; Washington advices showing the
deadlock to be in a more hopeless condition
than ever. and the rrmor that the Senate
c. nferers were willing TO- conceie. tree
sugar provided coal and iron were taken
care of, caused a bearish feeling on sugar
refiners, and the Gag er purchasers of yes
t.rday afternoon were just as eager to
stand from under this morning, and were
free sellers from the opening. which was at
lg IL or o-s under yesterdays closing It'd.
and sold down 104 IS. 80 -'--rs ri--rfI -,rsar
OF the other industrials Lead common
Was the feature, being more active and
very strong on buying for inside interests,
movement showed less evidence Of the
washing process than for several days
There was no further talk OF gold ship,
ments. and the more prominent foreign
houses say none will go out this week, and
that In all probability the outward move
nent has ceased. as the market for sterling
ana continental exchange Is barely steady
In tone at about the same quotations given
yesterday. There Ia no increase In the sup
ply of commercial bills. but brokers report
a falling on In the inquiry from remitters
Actual rates for sterling are cable trans
fers. ass l-4a4ss 1-2: demand, 4SSa4as l-As
sixty days. 4S7 1-4a<G Ia
At about pm. the underground from
Washington was again IN working order,
and houses with branches In your city be-
came very active In sugar refners and the
street was flooded with rumors that an
agreement had been reached by the confer
ees and that the compromise sugar sched-
ule would be accepted. The prfce OF the
certificates. which had held siuggtshiy
around los. suddenly advanced 20 fO l-s
when the demand suddenly cea sed and q
drop to los was recorded At this price In
side support was found. and the stock clos
ed firm.
The rest OF the market syrnpat htzed with
the rise In sugar, and the advance vas
well sustained -.fas ~ 49, '-IE