The evening world., 1894-03-03
THE MARKET CLOSED STRONG.
In Some Stocks Highest Prices of
the Week Were Reached.
Decline In Silver Affects Exports to
China.

The considerations used by the bears
to depress the stock market, such as
gold shipments, the Bland seigniorage
bill and the renewed depression in silver,
seem to have spent their force. This
morning there was a general rally In
prices of IA to | SIS per cent, under the
leadership of Sugar II Whiskey, which
continue to be worked up and down on
the conflicting advices from Washington
Senate.
Inc feeling. however, Is undoubtedly
more hopeful than for some time, and
THIS Is party indicated by the fact that
whenever the market shows n declining
tendency the volume of business di-
minishes.
Traders are anxious to lake the bull
tack on the belief that general trade and
railroad earnings will improve in the
near future.
American Sugar rose SIS. to a7-s;
Burlington & quincy Is, to sis; Ameri-
81. to 63 3-s; st. Paul l-2, to SO 10; Rock
General Electric /, to Al "a; Louisville &
Nashville SIS, to 47l,2; Manhattan !, to
l25, and Western Union l-2, to S. rs.
The bank statement shows an increase
III reserve of $l.Oll,iH, raising the sur
plus to SI5,1IS,9O0 against S., sos. l25 in 1898.
The actual gain in cash was s76l 100, but
as there was a sharp contraction in
loans. thus reducing the deposit liabili-
ties, the gain in surplus was over a
The banks gained considerable amounts
of currency from the interior, while the
specie taken for shipment to Europe
counted for only one day in the aver
The following are the comparative fig
ures:
Loan, .........,u F .i?.s % ,.5 S; s5, .s Is P pr's5s go
Specie ......... 81 9l5. $40 81. 526. 300 3ss, 300
Legal tender. lio,0a7 500 lli.i79oo 'l,l5o. 900
'tncrease.
Money was nominally l per cent. on
call. Foreign exchange firm at 4ss 30 a
4.S7 for bankers 60-day bills and ASS IA
II 4.Ss l-2 for demand.
Bar silver declined In London to 27d.
ner ounce, the lowest price on record.
and Mexican dollars to A. IA. The Hong
Kong & Shanghai Bank last evening re-
duced it's rate for demand bills on Hong
Kong and other Chinese points to 40,
duction is due to the decline in silver
and is stated to he producing an almost
complete ~staGnation in Chinese trade
with the United States via the Pacific
coast.
The, importance Of the decline Of silver
in this trade may be Illustrated by the
statement that $40" will, at to-day,,s
on. China for 81, oiO. so; and, vice versa,
81, Oi0.S 50 in Chinese silver money is re-
CURED to pay $1,000 in New York for
Chinese account.
1t Is understood that there will. next
week, be offered at auction, in this city.
several lots of standard brown sheet
ings, prints &c, which would have been
shipped to China yesterday and to-day
had not the decline in silver compelled
Canton and Hong Kong merchants to
throw up their contracts for the goods.
The stock market gathered strength
during the last hour, and the highest
quotations of the day and week were
attained IN some Instances. The deal
ings were attended with more animation,
and there was buying for both the long
and short accounts.
The net gains for the week were Il
to 1873 per cent. Sugar. the Grangers,
Manhattan, New York Central and West.
ern Union leading. D.stillers fell f.:
points and New England Shove a small
loss.
The sales Of stocks were 5000 shares
In the unlisted department 2o,lNO shares
OF Sugar and 600 Lead were traded In.