Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-08-03
FINANCE AND TRADE
The Bears Have an Anxious Time
Today.
CONFIDENCE OF LONDON BUYERS
There Was an Exciting Opening in
Sugar.
S EASURY REPORTS

Special Dispatch to The Evening Star.
NEW YORK, August 3.-There was quite
an anxious lot of shorts when the stock
market opened this morning. as the demand
for Burlington ard Rock Island late yester-
day ran the premium in the loan crowd up
to l-84 and 1-32 respectively. showing that,
contrary to the general belief. there was a
heavy addition n ade to the short interest
yeste rday. The anxiety of the bears was
helped along by rCmors that some of the
orders to ship gold tomorrow had been or
would be can celed and the fact that London
again appeared as a buyer of its specialties
at the opening. Centerirg its interest In
Louisville and Nashville and ST. Paul. for
eign Spectators evidently sharing the opin-
Ion OF THAR more conserve tive brethren on
this sice that We are on the eve of a settle
ment OF the tariff dispute and that a bill OF
some kind Will soon be passed. The more
confident feeling abroad was the more re-
marked because of the fact that the London
stock market will be closed from TODAY
until Tuesday, though the interest ac-
count" goes merrily on,
The feeling had grown over night that the
stump i'll sugar refneries duriag the las
few minutes trading yesterday was a
scoop pure and simple consequently
there was an excited opening in sugar dine
to sharp bidding up of the price by a prom
inent Hebrew firm closely identified with
the sugar trust The first Transact pms
were very heavy at prices ranging any
where between 103 and l0i as against luo
at last nights close. After the first ur-
gent demands were satisfied The stock be-
came very quiet but firm around lOi.
The manipulation in distillers' was of the
same character as that of yesterday, in
siders being evidently anxious to unload
the stock without materially affecting the
price.
The rest Of the list. while holding firm, was
very dull
The New York sutreasurer.s ran,r,s for
the past week may be compiled as follows;
Receipts. Sl.+O0.000; payments Sls 100 COO
Receipts include 81, $4,000 currency cf va
Iious kinds received by the New York Of
nee from other subtreasuries, SO that the
net receipts OF the week are approxima tely
sILooo.oo. Net payments are about 49,
GO.ooO. after making allowances for ship
ments OF money TO other treasury Offices.
Inc New York Institutions therefore
nave lost about 81. 1Jo00o TO the treasury.
while a very much more important loss Ia 3
been caused by the shipments Of gold to
Gurope Under the system OF averages
these should count against the banks for
Iully H.SoOo. The only gain has been
ron moderate money movement, which
bankers calculate at about 100000 The
LAM Hama snipment tomorrow should show a
large decrease In reserve.
Market for sterling and continental
olils Is barely at the quotations and
show no practical variation from those
OF yesterday. There is no pressure of bills
upon the market, but brokers report a
railing on In the inquiry from remitters
Market Is 50 narrow that IL Is e1sily az
fected. Actual rates for sterling are: Ca
Die transfers. .4sS 1-2aaSs "a; demand
4sS H.; sixty days, 4s7 I-2a4ST a.
Inc market continued dull and uninterest-
ing up TO the delivery hour at 2:15, when
reports were freely circulated that the con-
terees on the tariff bill had finally come
81
liners started the railway list, Chicago Gas
ana Disullers. all of which became active
and strong. closing firm at about the best
prices OF the day. which ranged from one
to two and a half per cent above onening
prices, the extreme advance being in sugar
certificates.