Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-09-07
FINANCE AND TRADE
Sugar and Whisky Trust the
Features in Speculation.
COMING DIVlBfSDs OF fat Former
Rumom Of a Receivership for the
Latter.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK. September 7.-Sugar ara
Distillers were the features Of today's mar
ket. absorbing the bulk OF the trading and
recording tR only important changes In
price. The formers movements were CON-
fined within narrow limits. owing to the
conflicting rumors relating TO next weeks
dividend. which alternately favored a re-
duction Of and a confirmation of the present
generous rate. 1t is stated. on good authorf-
ty. that the regular dividend of 3 per cent
VIII be paid, but on equally good authority
IL Is known that such an effort will meet
with strong opposition from sources promi-
nently identified with the company's az
fairs. Present Indications point TO a spirit
ed session ON the date assigned for the set
Element OF this question. and the lack Of har-
n'ony among officials makes the result ex-
tremely doubtful.
Distillers sold down i-2 per cent at the
opening TO u Is the lowest point yet
touched in the bear campaign against this
company. Rumors OF a possible receiver
ship were freely circulated. but. as usual.
Sere acted upon without the formally Of
being verified. Lower prices are confidently
predicted. as the affairs OF the concern ere
not an very gooo shape, and rival CORPORA
lions are making steady encroachmenfs on
induce a renewal OF the short selling and
force the price substantially below the pres
ent levc'.
/ In the railroad list prices and conditions
were unchanged London was fractionally
lower and sold moderately In the local mar
ket The volume OF business was small,
and confined utmost entirely to the room.
The covering OF shorts continues to be the
oniy basis on which purchases Of active
stocks are made In the hope Of immedtate
profits. The business outlook shows unmis-
t<kabe signs Of Improvement In certain
localities. but IL is doubtful II II viii he
overcome fraflf
ments elsewhere. There is no encourage
ment TO sell stocks. and when activity n
Resumed higher prices win in all proba-
oaiity follow as a matter OF course. but the
market at present In distinctly a waiting
one. lacking the enthusiasm and necessary
incentive to substantial Improvement
The regular weekly report of subtreasury
transactions reflects a continuation OF the
heavy payments OF customs duties. amount
Ing In round numbers TO Ss.25o,00o for the
week. The banks have lost through the
clearing house I'm consequence of such pay
ments about Seooeoo shipments OF cur
rency to Interior points has been resumed,
the banks losing about $4,000 In conse-
Quence. P1ttsburg has been drawing rather
freely on the local banks for currency dur
Ing abe week. while Philadelphia has been
This Is a most unusual occurrence, as
the two Pennsylvania cities usually help
each other In these matters.
Inc market Tor foreign exchange In fully
l-S2 higher than yesterday. The reaction
Is generally regarded as the natural conse-
quence of a too sudden decline and VIII
De only temporary. A falling on In the
noted.
The last hour trading Was dull the only
noteworthy feature being a liberal selling
movement I'm the Changers. st. Pauie re-
charges and II regarded as a fair showing
for a bad year. Final figures reflected 70
important changes for the day.