Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-06-04
FINANCE AND TRADE
Industrials Monopolize the Bulk Of
Speculation.
FRIENDS OF SUGAR STILL CONFIDENT
A Vote in Their Favor in the Sen
ate Expected.
GENERAL MARKET REPORTS
Special Dispatch to The Eyenins Star.

special D1spatch to The Evening Star.
NEW YORK. June A-The Industrial
group. under the leadership Of Sugar, came
promptly to the front this morning and
monopolized the bulk Of the trading. In
Sugar the temptation to realize was SO gen.
orally yielded to that the price was forced
down IA per cent in the FIRST fifteen min
utes, The decline was only temporary, how
ever. the price moving up steadily under
renewed buying. The situation at Washing
ton has not improved any since last week
and the vote on the schedule is likely to be
even closer than at first supposed. Friends
or the property are confident that the neces-
sary margin In favor Of the trust Is assured
There Is disposition on the part Of certain
interests recently identified with this prop
erty to defer further purchases until pres
ent prices are reduced somewhat
Chicago Gas opened up 1-2 point at rs rs
and sold down almost Immediately to "a
o-S on realizing sales. Purchases for pool
account restored the price. which resulted
in second realizing movement The price
was well supported around 70, however, and
the original movement in the direction of
higher prices is practically certain of sue
cess.
National Lead made a steady advance to
40 SIS, a net gain Of 1 3-S per cent from
opening nBureS- Bear rumOre were IN cir
culation all day. based on the theory that
the advance was too sudden to hold, and
that there were not sufficient legitimate
causes behind II to warrant its continuance.
The railroad hist was strong at every
point of activity rs the result of covering
and a somewhat more cheerful prospect.
The various reports of earnings, while uni
formally showing decreases. reflected mod
crate relative improvement Covering in
the Changers resulted in q is per cent ad-
vance for st. Paul and Burlington, ard 3-s
per cent in Rock Island. Nashville and Mis-
souri, Pacific were improved 81 and 1-2 per
cent respectively. The sh ort interest Is be-
lieved to have been underestimate. and is
now considered sufficiently large 70 warrant
a substantial rise.
The market for sterling and continental
bills was practically unchanged this morn
ing, both as to ratio and general conditions
The receipts Of commercial bills from the
interior were somewhat larger than last
week. but are still too limited TO have a
favorable influence on general conditions
Gold Will go abroad In limited amounts by
tomorrow's steamers. and IL Is still impos-
sible to estimate to what extent the ex-
port movement will run before the tide
turns in our favor.
The net loss Of gold from the first of the
year to date Is about S3s,O00,0O0
The last hours trading was strong ana
active. as the result of telegraphic advices
from Washington containing assurances Of
successful conclusion of the debate on
sugar. The vote on the schedule will be
taken under the present program some
time tomorrow. and will. in all probability,
result in characteristic display of pyro-
technics In the price OF sugar certificates
There Is no important news outside Of
that furnished by Washington. The DELAY
in settling the tariff controversy has been
credited with fostering all that is unde-
sirabIe in the present financial situa ton
and no serious attempt has been made to
advance prices because this handicap ex-
listed. The sugar schedule from Wall
streets standpoint is the most important
feature OF the bill, and the action on it
will be regarded as foreshadowing the fate
OF the entire measure and is sure to pro-
mote activity. The closing was moderately
active and strong.