Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-08-22
Wall Street Awaiting Action on the
Tariff Bill.
REALIZING PROFITS TO DEPRE% PRICES
DistiI|es a Conspicuous Feature In
the IndustriaIs.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK. August 22--Yesterday's
final figures were duplicated as a basis for
this mornings speculation and were ir-
regularly affected by the days develop
ments. London was dull and had little in
fluence on local transactions. The railway
list, where not given over to duilness, was
fractionally improved and shows consider
able strength. Commission houses are gener-
ally bullish and believe that purchases
made on concessions between now and the
signing OF the tariff bill will insure salts
factory profits. With the assurance that
the bill will become a law. the manner Of
Its approval being unimportant, traders are
inclined to buy moderately OF the better
class OF stocks on prospects OF higher prices
to follow the official announcement that the
law has become operative. Realizing sales
will naturally follow. and prices will be
temporarily depressed. but the Improvement
in legitimate business conditions is ex-
pected to resume its piece as q speculative
factor. from which it was summarily elected
by legislative uncertainti ties, and continue
the recuperative process.
burlir gton was n-cder ately active gain
ing "a per cent in purchases made ex-
dividend: st. Paul gained L.. and Rock
Island was only steady around opening
prices. Nashville and Western Union each
salned IL point on moderate dealings
New England was again active at a gain of
d per cent on early trading but as YES
terday, sold on after midday.
DistiIiers was a conspicuous feature of
me industrial group. and impartiaily favor
ed operators on both sides Of the market
In the first hour the price was advanced
per cent to ~. and then suddenly depressed
lS-o per cent on selling for both accounts
an. ine appearance Of several large buying or
ders at the decline resulted in a sudden ad-
vance OF per cent. from which point the
price was again detected downward.
Inc reasons for this erratic action were
ascrlteG TO rumors that the company ,ad
secured the full anne INT of the money nee
essary to release the whisky now in bond
and the subs >quert del ials OF the accuracy
OF such rumors. There are certain financial
matters not resulting from tariff legisia ton
that promote generally bearish feeling on
this property.
Houses prominent as sellers of the stock
YESTERDAY were operating as conspicuously
on the otner side today. and gave rise to
the presumption that they had been selling
the stock down in order to increas Sc their
holdings at lower figure. Sugar was rele-
gated 70 second place in point OF activity
put after a slight indication Of heayiness al
the opening. sold UP 3-S per cent on good
buying. There are still Indications that
Many OF The larger operators in this pron-
cry are inclined to regard present prices as
point. N-NN''s
General Electric gained 1 1-s per cent ON
ialr volume OF business, and Chicago Gas
after hesitating at the opening on The 80
sion. sold up 1 per cent
AS a result of London's selling in our
market the demard from bankers for for
elgn echange resulted in an advance I'm
rates for both sterling and Continental hills
Inc supply Of all classes Of bills ia small
put are. fortunately. less I'm demand than
sterling. '''aA
The last hours trading was moderately
active and strong Distfllers sold nm 70 the
highest point OF the day during this period
ana SO confused sentiment in regard to
future prospects that traders were disposed
10 leave Its Affairs to inside interests II
was a conspicuous feature OF the advance
however. that the larger interests on the
short side increased rather than diminished
their line. The railway list was steady on
small volume OF business. Final figures
reflected fractional Improvement for the
day.