Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-05-09
FINANCE AND TRADE
1ndustrials, as Usual, Were the Only
Stocks Active.
CONSIDERABLE FLUCHUAfION IN SUGAR
Rumors of Rate Wars Among
Western Roads.
GENERAL MARKET REPORTS

special Dispatch to The Evening Star.
NEW YORK, May e.-The opening Of to-
days market reflected no Improvement
either In prices or general speculative con-
oltions. AS usual Of late, the industrials
rescued Trading from absolute inertia but
conceded value for activity. London at
tracteo practically no attention on account
OF the narrowness Of speculation in that
market Rumors Of rate wars in the west
checked activity In the Changers and roads
IN mat section generally. Atchison reduced
freight rates about one-half and other roads
are expected to make similar reductions.
Ihis action was entirely unexpected and
caused considerable excitement among rail-
road officials.
Inc volume OF business In the regular list
was small and confined almost exclusively
TO the professional element There was no
long stock pressing for sale. and prices held
wen In consequence The booming rate
continues on many Of the stocks generallv
cieoiteo TO the active list, and prices are
expected TO advance on some covering to-
ward the close Of the week
sugar continues to hold the first nos,tion
OF importance in the Industrial group. and
10 describe Its movements would be an ac-
curate recital Of the days business. with
the details omitted. Opening at a reduction
OF Is per cent the stock found excellent
support and was not permitted to decline
more than Ia per cent below initial figures.
On later trading the price was advanced
steadily Tor q gain OF i per cent There
was nothing Eighty in its action, and the
belief prevails that for purposes of their
own inside interests desire to withdraw the
stock from its present position Of prom
inence. This action would divert criticism
pending final action on the tariff question.
There IL no lack of confidence as to the
companys ability to maintain its present
dividend rate, and no abatement of bullish
feeling
General Electric was sold literally by the
bear element, and lost 1-2 per cent i'm the
process.
Distillers lost the same amount on a fair
volume of business.
National Lead sold down / IA per cent
during the morning from lack of support
The market for sterling and continental
bills was dull at unchanged quotations The
amount Of gold to go abroad by tomorrow 8
steamers Is now estimated at 81 600 OoO the
bulk Of which will be drawn direct from the
vaults Of the subtreasury
The street does not attach any Significance
to the present outflow. Rumors of a re-
duction in Burlington's dividend rate led to
some selling OF that stock I'm the last hour
and brought on a sympathetic decline in the
balance of the list.
Late advices from the west reported a
complete Generalization of freight rates
Matters are at present in such bad shape
In this particular that any change must
tend toward improvement.
There were no important additions to the
volume Of business at the close of the day
and the sentiment Of the room remained un-
changed. The market bears unmistaka BILE
signs of the want of an incentive and lacks
both character and energy. Final figures
were irregular