Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-02-03
FINANCE AND TRADE.
Speculation Confined Mostly to the
Industrials.
FEW CHANGES IN TIE RAILWAY LIST
Sugar Men Hopeful of a Tax Being
Imposed.
GENERAL MARKET REPORTS.
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, Feb. 3.-Speculation today
was confined almost exclusively to the in
dostriai stocks which were active at the
expense OF the shorts. In the railroad list
the net change from opening figures did not
exceed IL per cent.
London was fractionally higher except
for st. Paul. which declined 1-2 per cent
on decreased earnings. The volume of
foreign business continues light and is not
OF sufficient importance to be a factor in
the local trading.
The belief that the tariff bill will be rail-
roaded through the Senate in its present
form is losing ground and private advices
from Washington are more hopeful OF GER
tain amendments beneficial to the indus
trial stocks and especially to sugar. 1t is
claimed that sufficient provision has not
been made for defraying the ordinary ex-
penses OF the government and that neces-
sity will compel the restoration to the
dutiable list OF certain commodities now
proposed to let in free Of tax. Should the
Senate take this view Of the situation Sugar
will probably profit most by any alterations
In the original bill and be amply protected
from foreign competition. With it's GUS
tomary inconsistency Wall street promptly
adopted this theory and the short interest
Immediately began to scramble to protect
outstanding obligations. Sugar advanced
steadily under pressure OF the demand 2 Is
per cent to 30 SIS.
The covering movement in this property
however, came largely from the room, and
prominent operators are known to be still
short at prices several points below today 6
quotations. and to them the advance had
no other significance than an effort to in
crease the floating supply of stock and re-
store a higher level for renewed selling.
National Lead was advanced I 3-S per
cent on the presumption tina. the tariff
schedule might be altered slightly in favor
of that industry.
st. Paul earnings for the fourth week in
January decreased sl1s.OOO as compared
with Sll6o00 the week previous. This is
equivalent to a loss Of $4,000. as the last
week contained one less day Omaha. for
s ss e7s. ,''" 0i Oeeem0er' decreased
-. The bank statement shows gain of S.,
100000 in lawful money, Of which 81, 600 oot
Is required against an Increase of owe,
100000 In deposits. which is the result OF
currency received from the interior, and q
slight in crease in loans.
This latter item does not improve In sat.
fsfactory amounts. and indicates a timidity
on the part OF business men and borrowers
generally that seriously fmpedes any SUBJ
stantial improvement in stock values
The statement in detail is as follows
Reserved increased, $2.5S0,OUO; loans In
creased. $75S9UO: specie increased 81 .,Ss, 100
legals increased. 345. 400; deposits increased
*4.ll4,ooo. ana circulation decreased s74.Soo
The clearing house statement reports ex
changes $sl. 0l6 IS9; balances. s., 43l. ay2 anc
the subtreasury's credit balance, sa2a, cs5.
The week has witnessed no important
change in the general character OF specu
iation. Traders have not been moiested N
their professional manipulat ton of value.
and the inactivity resulting from a narrow
market has al times approached stagnation
ontil the reign OF the room element 4.
overthrow by a public demand for stocks
no important movement beyond the occa
sional activity resulting from legislation a,
Washington and street rumors can reason
ably be looked for