Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-03-07
FINANCE AND TRADE
Sugar Continues to Absorb General
Attention.
CONFIDENCE IN NO LEGISLATION
National Lead Quietly Making
Gains.
GENERAL MARKET REPORTS.

Special Dispatch TO The Evening Star.
NEW YORK, March Cons jerabie rer-
Vousness was apparent in today's market,
que 10 yesterdays Eighty trading In sugar,
anu Tears were entertained OF another sud
ueh outbreak. As il was. this stock nb-
sorbeG The bulk Of the trading. and gained
" per cent in consequence of an abundant
supply "f market orders The belief i'm a
postponement Of tariff legislation and as
surances Of a continuation of dividends at
the Old rate were urged as satisfactory rea-
sons for the advance. The buying came
from the same sources that were instru-
mental in yesterdays rise, and was usually
TOT round amounts. The sentiment of the
street is decidedly mixed as To the imme-
date future of this stock, but the prepon-
detahce OF argument is. perhaps. on the
bun side. Of course, reactions must inter-
Vene, but with the assurances of favorable
legislation, friends of the property are likely
10 marx up the price more than they allow
1t to recede
National Lead has been Quietly pushing its
way upward comparatively unnoticed in. the
general excitement. hut with steady gains
mat are sure TO avail more in the long run
than such professional PROCEEDINGS as were
witnessed in yesterdays manipulation Of
sugar rms stock gained . l-2 per cent On
good buying for long account and is Be-
ileNed ps many TO be in for quite big rise
DelcIe tdflH changes cease TO be a factor
in speculation.
The regular list was strong on covering
py shorts, who seem to have put out al
most an ineXhaustible line ON that side of
the market. Should the buying FOR short
account be supplemented by legitimate
trading on the long side a continuation OF
the rally OF course must result but indica-
IONS now point TO a period of dullness 10
follow the present squirt of activity The
general tendency, however will be onward
AID IL is extremely doubtful IL the shorts
are again permitted TO gain such undis-
putad control OF the market as they have
recently enjoyed.
Burlington gained l 5-s'per cent to II Is
ST. Paul gained I IA per cent TO 81 - and
Rock Island gained l per cent to 40 West
ern Union continues To hold it's strength
and gained 3-i per cent on moderate trad
ing to - Ia. New England gained l IA
per cent on buying by interests interested
in the reorganization of the property
No reliable estimate can be made Of the
amount Of gold to be shipped abroad Low
Saturdays steamers. but rates of exchan ge
have now reached point at which some
small profit viii, accrue to the shipper. The
scarcity Of bills continues, and shows no
signs OF improvement. hence gold shipments
must be resorted to as the cheapest method
of canoelling foreign obligations.
The money market continues without
special feature except perhaps some slight
tendency toward an increased demand from
borrowers due 20 the activity I'm the stock
market. Rates continue at 1 per cent IN
call and - to l-2 for time loans.
The market sold off slightly after the noon
hour. sugar losing per cent and the rest
of the list proportionately. After delivery
hour prices rallied and the best figures Of
the day were recorded within half hour
of the closing. The Later trading Was quite
active and traders were inclined to work
for continuation Of the rally. although a
reaction Of i or per cent is now due.