Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-08-18
FINANCE AND TRADE
A Good Demand From London for
American Stocks.
EFFECT OF THE TARIFF BILLS PASSAGE
Sugar Reaches the Top Figure OF
the Year.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. August Is.-Higher prices
and good demand from London resulted
In strong opening In today's stock mar
ket. ard were largely responsible for the
Improvement in values at the close Of bus
mess. The week. on the whole. has been
very satisfactory. rejecting not only sub
stantial additions to values. but has in
some measure, overthrown the prolonged
supren acy of the professional element.
Success In this direction has not been so
pronounced as midweek indications seemed
to variant, but there has been a revival Of
interest on the part of the general specu-
latiVe and investment public sufficient to
be seriously considered a factor in the
present situation. The passage of the tar
IN bill is directly and solely responsible for
the change in sentiment, more because Of
It's removal from the always overcrowded
field of speculative uncertainty than for
any Endorsement OF its proposed purpose
This latter approval can only be Intelligent
ly given after the practical operations of
the bill have been determined.
1t Is encouraging to note. however. that
from the attitude of the various Industries
directly influenced by this measure final
approval will not long be delayed
The passage of the Murphy resolution
after the close of business, will have a
btneiiciai influence on next weeks prices
as ii disposes of the aggrayating subject of
collateral legislation.
Sugar was the feature of the days trad
ing, opening strong at los L. and hanging
lGly near those figures during the first hour
good buying demand from inside marked
up the price 3-S per cent to 10 - a full
point above the highest previous price for
the year. Conservative operators are in
cliEed to favor the policy of sustaining the
pr.ce' ana delaying any marked advance.
h. NIL
The best informed interests are those on the
INSIDE, and IL is safe to presume in the
light of past experiences that the action Of
the STOCK VIII conform strictly to the weight
of argument.
Distillers developed some little strength nm
covering Immediately after the opening ana
closed at a net advance for the day The
sentiment OF the street is unchanged as to
the future OF this company. and the shorts
are still confident sellers on all rallies
The balance of the industrial group at
tracted little attention, but were fairly
steady on small transactions
burlington was again the fea tura of the
regular list, selling up per cent on further
covering Yesterdays action on the diyf-
dend OF this company is generally regarded
as step trifie beyond the point warrant
ed by the company's financial condition.
81. Paul gained "a per cent to e. ana
canada Southern gained 3-s per cent
Inc Improvement elsewhere was less pro-
hounceo owing TO the narrow trading in
other parts of the list.
Inc bulls express satisfaction with the
outlook for increased business on nearly
all of the western roads and predict A
steady recovery in prices. The weakness
In the foreign exchange market is an encour-
aging feature of the present situat ton and
reflects the confidence felt abroad in our
recuperative ability. Today's rates for some
classes of exchange were IL per cent un-
der previously quoted rates
Inc bank statement reflects no important
changes. and consequently excited no spec
iai comment Averages conform pretty ac-
curately TO yesterdays estimates and are
generally favorable. The statement in de
tail follows: Reserve, increased sSI3 $40:
loans. increased, s1.d16. 100; specie, decreas-
ed, s2i,3oO; legals. increased, 81 79l 2uD; de-
posits, increased. 1882. 100, and circulation
decreased, 81, so