Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-05-01
FINANCE AND TRADE
A Reaction Occurs in Prices in Wall
Street.
PROSPECTIVE SHIPMENTS OF GOLD
Activity in Sugar Trust and Chicago
Gas.
GENERAL MARKET REPORTS

special Dispatch to The Evening Star.
NEW YORK, May The steadily in
creasing dissatisfaction among railroad
employees in the west. the recent advance
In the industrials and the general narrow
pess Of speculation led to a sudden change
OF sentiment this morning, resulting in
lower prices. reaction at this time 10
quite natural, especially in the industrial
group, and is rather beneficial than other
wise. Tarin advices We're a tride less con-
hdent In tone, but contained no new de-
yelopments in regard TO the several sched-
tiles in which Wall street is interested.
Over a million dollars in gold will 20
abroad by tomorrow's steamers. and prob
ally more later in the week. The announce
ment of this fact produced practically no
effect on prices.
Sugar again attracted the bulk Of the trad
ing and lost 1 IL per cent TO Iof on consid-
cradle activity.
The low figures promptly enlisted some
good buying for both accounts and the price
moved up beyond initial figures. The early
afternoon buying was Very good and came
from usually weil-informed sources
Chicago Gas sold down 3-s per cent at the
opening, but quickly rallied TO 60 SIS. a net
gain of IA per cent The long series OF
legal handlcaps which surround this COM
panys affairs has left all speculation in the
hands of inside interests. who alone under
stand the true significance OF pending Law
suits.
American Tobacco moved up 2 1-2 per
cent on moderate activity. and National
Cordage gained 5-S per cent on renewed
buying.
In the regular list Burlington was the
feature on reported increase IN earnings.
amounting to something over So 600 The
price OF the stock advanced 1 ia per cent
on this annour cement, and was literally
bought on the way up.
The balance Of the grangers were strong.
but made no noticeable gains Reading was
weak at reduction Of / per cent on room
selling. The market was given over al
most exclusively to the professional ele-
ment, and was dun In consequences. Low
prices attracted buying at every point and
stayed any decided downward movement
The holiday In London prevented any
trading for foreign account and contrib
uted something to the general dullness.
The market for foreign exchange contin-
ned very firm throughout the day, owing 70
the small offerings Of all classes Of bills. 20
Bankers settlements are fortunately not
very heavy, but such as they are. gold ship
ments are the only visible means OF meet
ing them. The decline of sterling rates in
Paris and the higher rates in the local mar
kef makes Ii profitable TO ship gold either
to London or Paris.
The market became active during the
afternoon at the exper Sc OF values. After
sharp rally at the close Of the noon hour
traders took advantage of the better prices
TO put out new line OF stocks. The entire
list vas affected and sold down rapidly
amid considerable activity.
Sugar was sold on TO the fun amount of
It's gain, the trading being IN large amounts.
Runners Of a hitch in the Washington plan
was assigned as the cause of the break In
the railroad list the decline was only frac-
tional While indications at the close OF
today's business were less promising than
yesterday. the change is one OF sentiment
rather than OF actual conditions Final fig
ures were irregular and trading very dun