Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-08-02
FINANCE AND TRADE
London Prices Today Were Higher
Than Yesterday,
A PROBABLE TARIFF AGREEMENT
The Transactions in Sugar Were
of Waiting Character.
THE DISTILLERS' TRUST

Special Dispatch to The Evening Star
NEW YORK, August 2-I.ondon price
this morning came l-sa3-s higher than ous
closing bids, and arbitrage houses were
rather free buyers OF St Paul and I,ouiss
vile and Nashville. Foreign houses saw the
strength Of the London market was based
on advices from this side Of a probabls
agreen.ent upon the tariff This made some
OF the room traders buIlish for a turn and
they started in to bid up the grangers.
Chicago Gas and sugar, right at the opens
ing. causing a rally. averaging about / per
cent, during the first hour. The Chicago
houses that were so prominent I'm yester-
days selling were buyers. presumably to
cover shorts. They bought about 1900
shares of various stocks around the room,
about half of il being G., b. and Q. and
Chicago Gas. This latter speciality, how
ever, displayed little snap, New York look
ing with suspicion on the Chicago selling
as anticipating another opposition ordi-
nance so easily engineered through the
common council Of that city.
Sugar huctuated, as for several days past,
ON more or less conflicting advices from
Washington. but its action gave no indica-
ton that anything definite had been agreed
upon In conference. and the Transaction
were entirely Of waiting character.
Distllers showed evidence Of a continues
ton OF manipulation noted yesterday. every
little rally being taken advantage Of TO feed
out the stock. Ii was rumored that THO
ed an associa ton. or agreement to act in
concert as against the trust. This, I'm con-
nection with the fading hopes of the trust
at Washington, caused a rather decreased
feeling on the stock.
Consolidated Gas vas stronger, the sales
Tor cash indicating desire on the part
OF some OF the recent sellers 10 get hack
their stock: the same was also true To A
less urgent extent, of Manhattan
One of the firms that withdrew upward
OF half a million gold from the subtreasury
yesterday Tor shipment Fer steamship Nor-
MAMMA today decided not to shin until
Saturday. Today's shipments, therefore,
| amounted to only $4,000, inst cad of about
million and half, as was anticipat ed.
however. for export Saturday and bankers
expect 20 see between two and three mill
lions go out on steamers sailing on thar
day.
Although there Is no change in ouo,.~
tons for sterling and continental bills from
those OF yesterday. there is a disposition
shown by bankers TO hold prices more firm
ly. This is not due to any noticeable In
crease in the inquiry from remitters. but
rather TO the absence of offerings OF ali
classes Of bills. Brokers who make a spe-
cialty OF cotton and grain bills sold for
future deiivery report that there IL no in
crease In this line Of engagements, as bank
ers decline 20 pay the high rates demanded
Actual rates for sterling are: Cable trans-
days. sS7 L.
After the demands of the shorts hax
been satisfied the stock market resumed
| It's dull, hstless character the monotony
or Which was broken only by a half Thea rted
drive at Burlington and Rock Island.
which sent the price OF each to yesterdays
lowest level Distillers was also sold down
fractionally.
In the last half hours trading a combine.
ton of room traders broke Sugar to los al
which price stop orders, supposed to be for
suspended trader. were uncovered which
carried the price 10 102, where inside sup
port was developed.