Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-06-01
FINANCE AND TRADE
Friends Of Sugar Quietly and Con-
fdently Buying.
WASHINGTON ADqCES CONFLICTING
lndustrials Continue to Be Most
Prom inent.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
New York, June Speculation in rail-
way shares attracted little attention in to-
days market, owing to the insignificant
character Of the trading and the imma-
terial changes in quotations. Opening fig
ures were fractionally below last nights
closing and moved about without definite
purpose within radius of half a point.
London was dull, with Nashville 7-S per
cent below our closing. and no other fea-
ture. The published statement of this COM
pany for the month of April shows a net
decrease of $42,10 and total decrease for
the last ten months of ss23.512. In the local
market the stock opened at a reduction OF
IL per cent and sold down a similar
amount to 43 SIS on moderate trading. Bur-
lington gained 1-2 per cent on a small vol
unre OF business, and the rest of the list
was steady at smaller gains. The floating
supply of stock is noticeably decreased
after every reaction and is being steadily
absorbed by investors the transfer books
or many of the larger corporations will at
test. Add TO this the overstocked condition
OF the money market and the reason for
the timidity of the bears is no longer a
mystery.
The bulls have drawn almost exclusively
upon legislative changes in support of their
directly affected have neglected the rail-
roads for the present. Until earnings will
justify the movement, the expenses of a
bull campaign in the regular list will be
divided about evenly between the shorts
and the originators of the scheme.
Washington advices were capable of q
variety of constructions this morning re-
sulting in series of rallies and reactions.
Sugar came promptly to the front as a IA
vorite, and sold off l per cent to 90 Is;
later, on more encouraging news, the price
was marked up to 101 1-2. Buyers are never
wanting when the price of this stock passes
par on its downward course.
The prospects for an early settlement of
the sugar schedule are not altogether en-
couraging, but there are no indications of
nervousness on the part of the larger hold
ers CT stock in this corpora ton. Should
the vote in the Senate be delayed material
ly an effort to force out the weak following
might result in lower prices but shrewd
operators are quietly increasing their hold
ings at every concession from present
prices.
Chicago Gas sold off 5-S per cent on real
izing shortly after the opening, but rallied
Tor gain of 3-S per cent on good buying
by the interests instrumental in the recent
rise.
The balance of the industrials were steady
around initial figures.
The market for sterling opened decidedly
weaker this morning, cable transfers selling
as low as 4SS 3-4 and demand l-2 ner cent
lower. The weakness is attributed to a
ia!iing on In the demand from RENTERS
me movement of currency from the in
teiior during the week has resulted in a
gain of about 100000 to the banks, and
fSpm subtreasury opera lions the gain to the
banks Is estimated at $1,000, 600 The gold
movement has resulted in a loss of 81 S75 :
OoO and will offset the above gains in to-
morrows bank statement, which Is not ex-
pected to record any significant changes
from last week.
The last hours trading was duh and with
out special feature outside of Sugar, which
sold up to the highest point Of the day dur
ing this period. Final figures were irregu-
lar, but in the main steady.