Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-01-26
FINANCE AND TRADE.
Wall Street Spectators Looking 10
Washington.
INFLUENCED BY CONGRESSIONAL ACTION
Traders Are Not Inclined to Ac-
tivity.
GENERAL MARKET REPORTS.
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, Jan. 26-The decline at the
close Of yesterdays business gave way 10
more rational and conservative operations
this morning, and prices were improved in
consequence. London was dull at frac-
tional gains over night and was not a factor
on this side. Speculation continues narrow
and traders show no disposition to. relieve
the situation while the present uncertainty
over tariff measures exists. The result of
yesterdays caucus adding the income tax
by way of an amendment to the original
Wilson bill was construed favorably by the
street as probably resulting in the defeat of
the entire measure. Stock values Increase
as the probabilities of the passage of the
bill decrease. Should the House agree to
give the bill a place on the statute books
the Senate is looked to to reverse the de-
cision and insist on some more conservative
plan Of raising revenue.
The vote of the judiciary committee to
support the resolution against the pro-
posed bond issue had no immediate erect
on prices and this question is hardly likely
to reappear as a factor I'm speculation.
The leading downtown banks report
n arked falling OF i'm currency shipments
from the interior since the announcement
of the new government loan. Estimates
based on these reports and the redeInp-
tions at the subtreasury show that the
gain in cash for the week will probably be
in the neighborhood Of S,00U.o0o. more
than 40 per cent of which will come from
treasury operations.
Remittances from the west have natural
ly fallen OFF with the rate for exchange
between New York and Chicago at par.
The banks have received from the sub
treasury during the week Sl49i0 000 and
have made payments amounting to 81. 235.
600. leaving a balance in their favor OF
s., 705 900.
The market for sterling and continental
bills was steady on limited transactions
Commercial bills continue scarce. and cot
ton bills have almost entirely disappeared.
Some bills drawn against grain are report
ed, but are too small in quantity 10 be
significant.
Money continues in liberal supply at l
per cent on call. = IL per cent for thirty,
and 3 per cent for sixty and ninety days.
Half-year loans at 1-2 per cent are to be
had on good collaterals. The clearing house
statement reports exchanges, ST.. 9l3. $50;
balances. $5,212.o39. and the subtreasury's
debit balance. 81 ,o09212.
Louisville and Nashville earnings for the
third week this month decreased $il.9Do
Missouri, Kansas and Texas. same period
increased sl.Sl9. Lackawannas report of
earnings for the past year show net ia
per cent on the total capitalization.
Prices shaded on slightly under cover of
the dulness, which was the dis tinGuishing
Characteristic of the afternoons trading.
Traders sold Western Union down I 3-s
per cent to So IS. and the rest of the list
yielded slightly in sympathy. Bear talk on
certed effort to depress the price has vet
developed. Long stock in considera be
amounts has recently changed hands and
this fact. coupled with the known falling
OF In earnings due to industrial depres-
sion is the basis OF the argument against
improvement in price.
The closing Was without special feature
and generally below the best prices Of the