Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-07-28
FINANCE AND...TRADF
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A Slight Movement Withathe Gran
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ger Stocksss''l5,s.,q, .. "a
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SUGAR STRONG THROUGHOUT TILE DAY
The Passage Of a Senate Tariff
Bill Expected.
THE ADJOURNMENT TODAY


Special Dispatch to The Evening Starr .. ..
NEW YORK, July IS. d,
IToday's short session was productive OF
few interesting speculative features. ana.
values at the close Of the day. we've practi!
cally unchanged from last niria' =. bit,-pric-s
London was duh at fractional cohcessIons
from our closing and cold a few stocks in
the local market The sentInassT of the
room continues bearish on the Granger
roads. but the scarcity OF borro stAble stock
strives to keep the fluctuations confined
within narrow limits. Burlington reported
a net decrease OF s231.acO in. Luna earnings,
which prompted some selling, but did not
materially change the price Other~ar,is-
creases were reported. but not being unex-
Iiected attracted little attention. Sugar
figured for nearly a. third Of the, total busis
mes. and was strong throughout the day!.
Ia side interests were credited with.the bulk
of. the buying: which indicated tsrrect con-
fidence i'm the result of pending legislation
Yesterdays proceedings IN -tBe- Senate
confirm the popular belief in the pa ssage OF
bill constructed in strict accordance with
senatorial views The fufiiity % an ut
tempt to alter the provisions 81 the bin
submitted by that body haying been
demonstrated IL is argued that the bilt
must be accepted or leave all park hedges
urredsemed. Best adrices indicate q. prob
able adjournment of Congress. one. week
from today and stock values will from that
date be given an opportunity to prove ttrelP
r,silying power. The doubt CONCERNING tire
remedial influence of the proposed pill WIN
shortly De confirmed or dispelIed. in either
event speculation will be given a sound
basis en- which to establish intrinsic values
The promised activity in sugar. should
present hopes be realized. will naturally
hsre tendency. TO. overshadow all else. az
the railroads can hardly he expected 20 de.
yelop any sustained strength auntii their
future earnings and dividends arr. more
fully assured. The railroads. OF course rely
upon the tar1n bill to remove all existing
handicaps. but as the practical operation Of
the I'LL cannot be Immediately desiionstrsted
II must follow that Improvement must be
slow. The conditions resulting in last sum-
mer's panic We're slow in maturing. the
recovery to be complete must be gradual.
The condition of the foreign exchange
market has attracted attention only second
airy to the proceedings at Washington The
loss Of nearly sG5.0ooooo in gold since Janu-
airy and the probabilities of further loss.
the continued drain on the treasury's gold
-eserve and a complete absence OF any ef-
fort to counterfeit the drain are subjects oe
very grave comment in financial circles. The
banks are willing to assist the treasury in
every possible way, by the purchase Of q
new issue Of bonds, for which gold would be
paid, or in any manner satisfactory to both
interests. but far this assistance has not
been sought The duplication of this weeks
shipments would probably force some re-
medal action. -s..=,-- -
The bank statement rejects last Satur-
days shipment of specie and the amount
that went early this week. The deposits'
have fallen of over $s,o0ssA and the loans
decreased over 81 .OD0O0s. There is also a
decrease in the holdings of legal tenders
withdrawn for the purpose Of obtaining
specie for export, The statement IN detail
shows: Reserve decreased s.. a9 SIS: loans,
decreased, $l.Vg.o0; specie decreased. SOL
go; legsls, decreased $s.s1s4g0: deposits,
decreased. x.lsl.1oJ and circulation. de.
creased, S1O960 80 Z