Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-03-13
FINANCE AND TRADE
Sugar Continues to Be the Leading
Speculative Stock.
TRADERS INCLINED TO Be BUYERS
lndustrials MonopoIize the Bulk Of
the Business.
GENERAL MARKET REPORTS.

special Dispatch TO The Evening Star
NEW YORK, March l3.-Today's stock
market opened Arm around closing figures
and continued strong throughout the morn
ing on Z small volume Of business. London
was fractionally higher, but had no i'm
portant orders on this side. Traders con-
uhue partial to risks on the long side Of
uie market and are generally hopeful Of "A
saceesslol and protracted bull campaign.
me support that has recently come from
'he purchase OF some of the larger commits
sion houses has aided in the reduction Of
the snort interest, and If continued will soon
dissolve the entire interest The industrials
" Ite ulhe more conservative than usual
IA thelr movements. monopolized the bulk
OF toaays business. Sugar of course, has
paramount claim to the position of leader
ana M continues to Justify such distinction.
Inc ourlesque in which inside interests
are SO prominently figuring in their efforts
70 convince the ever-credulous public that
their profits have been ruthlessly destroyed
py tne action of the Senate committee
goes merrtly on, Notwithstanding The ,eers
OF the crowd. IL is difficult to see just how
even SO slight protective tariff as is now
contemplated can pauperize a concern
when last year earned over S85.0o0,vDo and
has surplus fund equal to more than one
half that sum.
The radical bull prediction now going the
rounds, OF 10 for this stock does not seem
at all improbable In view OF the facts slow
ly coming to light.
National Lead gained an additional 1 Der
cent today ana was conspicuously strong
at the advance.
Chicago Gas gained ] per cent ana was
fairly active, presumably on covering
The railroad list developed some activity
after the noon hour and prices were imnroy-
ed from Ia to per cent Missouri PACING
gained j Is per cent to 90 Ia and the
Changers worked upward under the header
ship of ST. Paul. for fractional amounts
Western Union was inclined toward hcay-
mess during the early hours and there was
a suspicion OF slow feeding out of stock
whenever the market would take n with
out injuring the price. The declaration OF
the regular dividend of Ia per cent cur
ing the afternoon steadied the price ar q
successfully rebuked another group OF bears
whose operations were based on the passing
or reduction of the dividend.
While the effect of this action had a good
temporary effect. IL is doubtful il the course
Is a wise one considering that the amount
was barely earned and may Vet need piecing
out with borrowed funds. Manhattan d.
rectors declared the regular dividend OF 1 IL
per cent, payable TO stockholders of recori
March IL. The market for sterling opened
strong, with rates for sight bulls IN 10 me
gold exporting point That some gold Will
go out is now practically certain, but IL is
TOO early in the week to estimate the
amount.
Money Rates and borrowing ,oaditioas ave
practically unchanged. Bankers continue
TO complain OF their supply Of IDLE fUn3s
and the small profit in the interest," &C.
count. The clearing house statement shows
exchanges $50. 100. 55s, balances Sc i4g sc,
and the subtreasury's debit balance s14e,-
6i3
The last hours speculation was confined
largely to the Changers, which continued to
improve under a good buying demand. The
entire list held well and the market showed
no signs of retreating from its present
strong position. Closing figures reflected
slight gains throughout the list