Evening star., 1894-02-09
FINANCE AND TRADE.
A Bull Movement Begun This
Morning.
SUGAR CONTINUES TO Be STRONG
Effect on Whisky Trust Of PROF.
pective Legislation.
GENERAL MARKET REPORTS
GENERAL MARKET REPORTS.

special Dsspatch 10 The Evening Star.
NEW YORK, Feb. 9.-Initial figures were
shghtiy improved this morning and con-
unued strong on light trading throughout
the morning London was practically high
er' but had no important orders on this side.
Inc continued covering OF shorts on all con-
cessions Is the only preventive Of complete
inactivity The dullness today was more
pronounced than at any time for weeks.
Inc return OF many OF the active stocks 70
the premium list indicates a renewal Of the
short interest and the better class of houses
are arrayed on the ball side for a time at
the expense Of the bears. Traders who sold
stocks yesterday bought them back this
morning at slight advances.
The unparalleled condition OF the wheat
market continues TO attract attention, ana
spectators generally are snxiousiy wait
Ing for the low-water mark In that COM
modify SO as to load up for the rebound In
price. All previous records were again
broken today. and unless the situation is
relieved at once some nquidation or rail-
road shares is inevitable. as the only means
Of protecting grain transactions
Sugar was broyed UP on reports from
Washington stating that both raw ana re-
fined sugar would be taxed, and that the
tax on both would be the same namely. in
the neighborhood OF one cent a pound All
efforts TO have the refined product taxed
fractionally higher than the raw have been
abandoned. and the bill will probably BE-
reported with the above amendment
Distillers sold down Ia per cent during
the morning on selling by brokers usually
acting for prominent bear traders. The
increased tax on imported spirits is not
considered as great a boon to the manu-
facturer ss was at first supposed. and an
cd Of rh.a hrn An4
some to be decidedly the more desirable
Western Union strengthened up slightly
on a denial of the report that insiders were
unloading. Such reports serve to turn the
tide temporarily. but the most prominent
bears in this property are still as confident
as ever that competition and decreased
earnings will seriously affect any corpora
ton DO heavily capitalized as the Western
Union and that lower prices must ensue.
The movement of currency this week
has been light, but will probably show q
gain of about s., SOC. 900 to the banks The
receipts have been mostly from the interior
OF New York state. and In many cases
were for the account Of the interior bond
subscription.
The banks loose s43.00o.o 600 to the sub
treasury this week in payment Of their
subscriptions to the new per cent loan,
having paid in nos.ooo.ooo and received
The weekly report OF subtreasury opera
tions shows total receipts STA 40 us, in
cluding A.s2S.0o0 currency from Washing
ton and S0.0o00oo certificates issued; to-
tai payments, sil2oS.s94 including currency
shipped to Washington, s4.323. 600. certif-
Gates redeemed, sl.0So, 900 and gold certif-
Gates redeemed, S.215.000.
The market for sterling exchange was
on call loaned at per cent and time rates
continue at l-2 to 3 1-2 per cent.
The market closed dull and irregular At
slight concessions from best figures.