Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-06-08
FINANCE AND TRADE
A Decline in the Price of Sugar
Stock.
EFFECT OF CONGRESSIONAL COMMENT
Chicago Gas tho favoGte Stock
Today.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

special Dispatch to The Evening Star.
NEW YORK, June s.-Today's market
opened dull at reductions ranging from Is
10 Oh per cent, and except in a very few
instances was not materially improved by
later trading. The grangers were generally
lower ST. Paul opening OF half point and
Burlington shading on fractionally during
the day. Rock Island was the exception,
and gained 3-s per cent on a small volume
Of business. Manhattan sold down ll-2
per cent to lis 1-2. but rallied slightly on
later trading. Traders put out a consider
able line Of short stock on the way down.
and 1t is believed that they have increased
the interest on that side of the market to a
point justifying a rally
The volume Of business in the regular list
was extremely limited. and the bulk of the
trading purely professional. Speculative
sentiment, however. is daily growing more
encouraging, and the bull leaders will soon
have sufficient material at hand to warrant
higher and broader market.
The industrals were again In the front
rank, but lacked unanimity of purpose
Sugar, which has Of late been the subject
Of such conspicuous favoritism. has had
to divide honors with other members Of
the industrial group during the last few
days.
1cStcTudy 1cHcIdl ElcCllC was inc INV
orite; today Chicago Gas. In this latter
stock continued buying by the pool brokers
and the reluctant covering of the belated
shorts caused an advance of per cent
over first figures. 1t is intimated by GER
tain well-informed interests that the pend
ing chancery suit is not likely to cause
any further serious apprehension.
General Electric was marked up l Is per
cent on continued buying, resulting from
rumors Of an important business alliance.
Distillers was barely steady and IL per
cent under yesterdays best price.
Sugar opened at a reduction of rs per
cent to l05 Ia, and sold down 3-i per cent
on the feeding out of large block of stock.
Later the price was marked up slightly in
advance of the opening. The weight of
argument for the present Is against higher
prices for this stock. The harsh criticisms
of the House are sure TO be reflected in low
err figures. but on She ultimate result there
is a singular unanimity Of opinion. To buy
on concessions Is the only sure move which
the average operator has left, for IL is not
at all likely that inside interests will con-
slider II necessary to inform the general
public of the proper purchasing point
The market for sterling and continental
bills opened firm and duh. Rates and con-
ditions are practically unchanged from
those previously quoted. Gold amounting
to 100000 was shipped TO Europe by to-
days steamers. and about half that sum is
expected to go out tomorrow. The week
interior currency movement is expected 10
IcHcSl dltOlhct Niic CASH mornings Oh
the local banks. the amount OF which is
variously estimated from 100000 TO
s. 500, 900.
The gain from this source will be an i'm
portant Offset to the S50O0.O00 gold taken
for export, and which will be charged
against the banks in tomorrow's state
ment-
The gain to the banks from subtreasury
operations is a triie less than half million
The afternoons business was the most
profitable Of the day. In most instances top
prices were recorded In the last hour. The
entire list was strong, Northern Pacific
being the feature at gain of rs per cent
Final figures reflected net gains for the
day.