The sun. [volume] (New York [N.Y.]) 1833-1916, 1894-08-19

rapid upward movement which. Il must be
confessed, has for It's basis rather the things
hoped for than those actually seen. In 80 far AZ
the settlement Of tho tariff tinkering will prove
an incalcuiable relief TO business, the growth Of
a more confident and cheerful feeling Is justin
able. but It would seem at present as II II were
better % make haste slowly. The stock market,
despite its undoubted accession Of outside spec
ulative interest, remains largely under profess
sional influence and even control. During the
week the new development OF unfavorable fea-
lures and the coming into play of such events
as tho declaration OF tho full dividend In Bur-
lington and Quincy, a further reduction in the
rates for sterling exchange, improving railway
reports, and, above all. the assurance that there
will be no more tariff legislation at this session
Of Congress, appears rather to have turned the
head Of Wall street. which had become so satu-
rated with dependency. The days market was
q mixture OF a bear panic and bullish enthusiasm
run Wild.
The strength Of the market was not explained
by any new Developments. Buying orders for
foreign account were a feature of the early trad
ing and the market was continuously strong
from opening TO close. The Street has accus-
toned itself to think that the action of the Bur-
lington and Quincy directors indicates the In
%tentions of those OF other directories, and the
Numbering short interest In the other Granger
shares covered their contracts without regard to
reason or price. Joaning rates after the close
indicated n material reduction of this division
OF speculative activity. The final dealings
showed that the degree Of the advances
had proved satisfactory TO the holders Of
some securities, and there was no little
realizing noted. Sugar certificates were once
more brought to the front and closed with a net
gain OF 1s y cent. The only news of which the
Street heard that could be taken in explanation
of the advance was Of the passage of the Senate
resolution squelching further tariff legislation
at this session. Distilling p~rofted also by the
general enthusiasm and closed with n slight adj
vance on the days trading. No moro definite
information came to light concerning the efforts
of the company's management to raise money
on what bankers call its pig on pork collateral.
AS compared with the final prices Of last Sat
urday. the entire list Is higher. The more inn
portant net advances were in American Tobacco,
"a y cent; Burlington and Quincy, 8Ss: st.
Paul. 5A; General Electric. 5; Denver and Rio
Grande preferred, 6: Union Pacific, Al: Rock
Island and Louisville and Nashville, 40 each;
American Sugar Refining and Missouri Pacific,
4 each; Northwest, IA: Northern Pacific pre-
ferred. 3Is; Southern Pacific, 3; n. Y. Central,
Wheeling, and Lake Erie common and pre-
ferred, "a each; Atchison, Ga; l.. I. Traction,
9; Wabash preferred. rs; Chicago Gas and Ma
tional Lead. 12t each; Reading. 1ss; American
Cotton OH, Ontario and Western, and Western
Union. 1Ls each; Kansas and Texas preferred.
mond and Terminal, Us. and U. S. Leather pre-
ferred. u q cent.
Final sales compare with those of yesterday as