The Washington times., 1894-05-24
MARKET GENERALLY STRONG.
Sugar Makes an Upward Movement. Based
on News from Washington.

Sugar Makes an Upward Movement, BaSed
on News from Washington.
NEW YORK, May 23-The share speculation to-
day was strong and decidedly active Reac-
tions were due mainly to realizations of profits on
an occasional bear drive which sent prices down
temporarily, but there were buyers for all the
stocks offered, and after each decline came a
rally, which established higher range of val
ues Exceptions to this rule were found in some
of the speciaties, which moved erratically, and
in a few cases recorded declines on the day
London was purchaser in round amounts OF
the arbitrage stocks, chiefly St Paul. Louisville
and Nashville, Union Pacific, and Atchson
Chicago was also a heavy buyer of St Paul, sup
posed to be for the account of prominent rail-
way men in that city, who anticipate good re-
suits from the meeting of railway managers TO
be held In that city tomorrow. The general
market was helped upward on expectation of
a settlement of rate c>estion for some time to
come by tho conference, and the bulls used the
meeting for all there way in 1t and perhaps
more.
Sugar was again taken in hand by the CLIQUE.
and moved upward on reports from Washington
that the Senate would shortly pass the tariff
bill with the clause protecting the refining in
terest and that the House would accept the
Senate amendments
Rumors that the coal strike was approaching a
settlement affected the shares of anthracite
roads favorably Chicago Gas was bought by
insiders on the belief that there would be no
further effort TO interfere with the payment of
the dividend. The Cordage shares were in re-
quest on statements 10 the effect tnat arrange
ments had been made with manufacturers out
side the trusts to maintain prices
All the influences affecting the market were
read in a favorable light by the traders, and
hence the trend of prices upward.
During the afternoon the buying at times
very strong, but in the final dealings realizing
sales caused a general reaction, and the market
closed easier at decline of 14al3s from the
best prices of the day, New York Central Erie
preferred, Cordage, Z. G. c. and st Louis, Louis
vile and Nashville, and Iowa Central preferred
ring he hes iXrifh
terdays closing figures The final sales of to-
day show an improvement of 3l4-in sugar, 31s;
Rubber preferred, sA Wheeling, Lake Erie, :, g 3;
United States Cordage,2; .; Manhattan, SIS; Hook
ing Valley, 115; Chicago Gas, Lake Shore, and
Minneapolis and st. Louis preferred, IA; Del
aware Lackawanna and Western, United States
Cordage, and Northern Pacific preferred, lis:
St Paul, Rock Island, Reading, Louisville and
Nashville and St Louis Southwestern preferred,
! per cent; New England, Iowa Central pre-
ferred New York, Chicago and St Louis, and
Wheeling and Lake Erie common, !.
Those shares which show a decline of more
than fraction are: Hooking Valley preferred,
sig; Chicago and Eastern Illinois preferred 21E;
Metropolitan Traction, IA; New York Central,
rs, and Green Bay and Winona, /
The bend market a trifie heavy during
the morning, but became strong in the after
noon, and closed at the best Of the day. The
principal changes arc:
ADyASCEs-Morris and Essex firsts, 2IE: Louis
vile and Nashville collateral trust fves, Peoria
and Eastern iirsts and st Louis Southwestern
seconds, each; Northern Pacific firsts,do. regis
tered, lla each do. coupon seconds, l. do. thirds,
IL; New York Lackawanna and Western nves
and Reading frsts preferred, 10 each do sec
onds, M; Chicago Gas firsts, lss; Beech
Creek fours and Western Pacific frsts, IL each;
Chicago and Northern Pacific firsts, trust
ceipts, Kansas and Texas seconds, Pittsburg and
Western fours and StP : NJ. Div. nrsts, each
DECLISEs-Loulsville, New Albany consols. 5:
Baltimore and Ohio Southwestern income firsts,
series B, 3lS; Erie seconds consols, g. do consol,
gold sevens, 2ls; Oregon Navigation hrsts' sl.:
Chicago improvement firsts, Union elevated
firsts, Union Pacific gold fives, collateral trust
notes and Virginia Midland generals each per