Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-08-13
FINANCE AND TRADE
Better Prices in London For Ameri-
can Securities.
SUGAR ROSE ON WASHINGTON REPORTS
Effect of the New Attitude of the
House Democrats.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star.
NEW YORK, August BIN sympathy with
better prices in London, our market opened
at an advance varying from ii to I per
cent over last weeks final figures. The
free selling of the Changers the dis
couraging crop report resulted, usual. in
creating an unwieldy short interest. which
today reacted against the originators of the
downward movement. Burlington gained
L IL per cent on the hasty covering of
short contracts, and st. Paul and Rock Is
land gained "a and IL per cent respect
lively. Western Union attracted consider
able buying for both accounts and gained
i IL per cent in consequence.
The sentiment of the room is generally
bullish on the immediate outlook as the re-
suit of more encouraging prospects for early
tariff legislation. Prices respond easily to
any buying demand and show a marked
tendency TO improve in proportion to the
activity on the long side.
The largest interests in the street are
watching the industrials in the belief that
larger profits will accrue from timely pur-
chases OF the various issues comprising this
group OF securities than from any other
source. The unmistakable evidences of
favorftism on the part of the recognized
leaders of speculation has resulted in the
organization OF a large following of smaller
share of final profits
sugar naturally continues to absorb the
bulk of the trading, but fears OF free
sugar Dill to follow the acceptance of tine
Senate bill by the House have a tendency TO
force cautious dealings for the present
Well Informed interests do not anticipate
anything more serious than a temporary re-
action the result of the threatened re-
taliation' on the part OF the House. but the
sentimental first effects would naturally
depress the price. After a strong opening
This morning the marketing Of large block
of stock put the price of | per cent, from
which point il quickly rallied = l-2 per cent
on Washington advices indicating a will
ingness on the part of the House to ac-
cept the Senate bill
Distiilars was a conspicuous feature of
the days trading, gaining 3 H. per cent
on considerable activity the greater part of
which was attributable TO the covering of
short contracts National lead gained 1 per
cent on a fair volume of business and else
where smaller gains were noted on moder-
ate dealings
The foreign exchange market was somo-
what easier In tone today, quotations being
Ia per cent lower for sterling and is lower
FOR continental bills. compared wi.h pre-
vlously quoted rates. There was no in
crease in the offerings of bills, but this was
offset by corresponding decrease i'm the
demand
The last hours trading was quite active
and prices compared favorably with the
best for the day. Washington advices con-
tinued encouraging, and the delinquent
shorts were forced into a further covering
movement. There was no important news
other than that relating TO tariff prospects.
Closing figures reflected substantial i'm
provement In all parts of the list, and
confident speculative undertone.