Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-12-17
FINANCE AND TRADE
Chicago Gas Was the Leading Topic
With Spectators.
SUGAR AGITATED BY A new RUMOR
Free Admission of the German
Product.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, December 1.-THE specula-
tive disinterestedness so pronounced on
Saturday was duplicated this morning
without any significant addition or omis
sion. The affairs of the Chicago Gas Com
pany furnished the text for most of the
gossip of the board room, but no important
official announcements were made. Traders
are decidedly bearsh on the stock and be-
Eeve that reduction in the dividend rate
is inevitable. The more conservative opera
tors are inclined to await the receipt of
less complicated intelligence before ex-
pressing an opinion on the subject The
stock was easily depressed l per cent en-
sales generally attributed to the short ac-
count, and may rally sharply at any mo-
ment on purchases for the same account,
as. the outstanding short interest has al
ready assumed large proportions.
Sugar opened rather erraticaly, selling
down to 81 IL on opening sales, but be-
came steady after the first few minutes
and added l is per cent to initial figures.
AS usual, the bulk of the activity CEN
tered in this stock. A rumor was circu-
lated during the day to the effect that the
administration was seriously considering
reciprocity treaty with Germany, which
will include, among other things. a propo-
sition for free admission of all sugar pro-
duCed in the latter country, provided SIM
liar concession is made in favor of the
meats exported from this side.
The report could not be confirmed, and
consequently had no effect on the price of
the stock. The feeling in the street Is
unchanged on the subject of sugar, so far
as future benefits are concerned, but the
immediate purposes of the manufacturing
interest have been Invested of none OF
their mystery.
The Disteiilers Company are reported to
have ordered an increased production,
which will necessitate the opening up OF
several houses now In idleness. rms ac-
ton will have an important bearing on
the breach of contract suit brought against
the company by Nelson Morris for failure
en- the part of the company to feed the
number of cattle mentioned in the con-
tract.
In the railway list dullness was the only
distinguishing feature. Opening prices
We're about on a parity with last week S
finals, but yielded slightly to room selling.
A z. per cent reduction in the price OF
Burlington and an advance OF II per cent
in New England represented the extent OF
the fluctuations on both sides of the mar
ket.
shipped by tomorrow's steamers. and indi-
cations point to further inroads being made
on the gold reserve during the week. Lower
prices may reasonably be expected should
this outflow be protracted.
The foreign exchange market was barely
steady on limited transactions. The re-
ceipts of bills from the interior were small
and drawings of all classes were scarce
except such as were drawn against gold
shipments. Rates were practically I'M
changed from last week.
The trading during the closing hour mar
rowly escaped stagnation, operations being
purely professional and purposeless. Prices
in the main were fractionally above the
lowest previously recorded as the result
Of moderate covering.
The several cliques and pools identified
with the recently active specialties were
indifferent to the fluctuations recorded dur
ing this period. The consideration of the
railway pooling bill by the Senate is anX-
icusly awaited. as its passage will do more
to improve values and stimulate activity
than any single act now in prospect, the
passage of a sound financial measure alone
excepted.