Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-08-14
FINANCE AND TRADE
Prices Went Up on the Passage Of
the Tariff Bill.
FRIENDS OF SUGAR NOT APPRENTICESHIP
Values Fall on Sales to Realize
Profits.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening star
NEW YORK, August li.-Reslizlng sales
and stop orders were conspicuous features
In toSay's stock market sYbtraeting from
values the impetus necessary to activity
The passage of the tariff bill resulted I'm a
strong opening at advances ranging from
Ia TO per cent, but fears Of special legis-
latIon to nullify the conservatism OF the
Senate bill led To a general taking OF profits
The trading WAS we'll distributed, but the
changes We're most marked in the indus
trials. Sugar opened at an advance of 3-s
per cent TO 100 Ia snd sold down on a
series of rallies and reactions to lO4 3-s
The early break was due entirely 10 realiz-
ing sales In anticipation of free sugar bill.
and the uncoyering Of stop orders completed
the depressing influences. Inside interests
are believed to have assurances that no
legislation of the characte proposed by the
House will receive the concurrence Of the
Senate, but are willing TO see the stock sell
on, IN order TO force out a large following
of smaller interests. which might defeat the
proposed manipulation Of the price after
Legislative influences are removed.
Runners of a probable exercise of The
veto power were VaTiousiy construed, and
stock.
National Lead sold down per cent on a
ialr volume of business. and Chicago Gas
lost a similar amount on selling for both
accounts.
Distillers opened strong at ~. and sold
on promptly on renewed selling to y rs
The short interest IN the railway list hav-
ing been pretty thoroughly eliminated by
yesterdays purchases, advantage was
taken OF the higher prices to put out a new
line OF short contracts. Traders assisted
the movement by reducing profits into pos
session ana taking new risks on the short
side burlington sold of 1 Is per cent,
Rock Island / Ia per cent and St. Paul
is. on considerable business Western
mon declined l 3-s and Manhattan lost
l-2 per cent in sympathy with the gen
eral character OF the market
There was no radical change in the spec
ulatiYe situation to warrant the general
shading OF in values beyond the fact that
the uncertainty over tariff charges has not
been materially reduced by yesterdays
proceedings in Washington. The decline
however, is regarded as purely sentimental
and consequently likely TO be suddenly
checked by good demand. already notice
able from the clients of the larger commits
sion houses.
The recent buying Of stocks for European
account resulted in Increased offerings OF
bankers bills against such purchases and
consequently decline in the rates for for
eign exchange. There were also some Of
ferings against grain and provision ship
ments and the purchases Of cotton futures.
The market continued active throughout
the afternoon and gained considerable
strength around delivery hour on covering
of early sales.
Burlington and ST. Paul each recovered
all OF their earlier losses. and elsewhere
the extent Of the decline was materially
reduced. Sugar rallied sharply to lO7. but
was feverish and erratic up to the close
Western advices report a gradual increase
In freight receipts and a more cheerful
outlook for fall business. Prospects OF
more active speculation have a tendency TO
Increase the attendance at the board which
argues well for improved values In the near
future. The closing was steady at a gen.
eral decline from initial figures