Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-07-27
FINANCE AND TRADE
Expected Effect Of the Passage of a
Tariff Bill.
WHEELING AID LAKE ERIE DIVIDEND
The List Was Fairly Steady and
Nc important Changes.
SLIGHT GAIN IN SUGAR


Special Dispatch to The Evening Star.
NEW YORK, July 2T.-Stock values were
not materially altered by toiay's profess
sional transa ctions and speculative condi-
tons developed no encouraging signs of i'm
provement. The Overcrowded condition of
the premium list serves as a warning to the
would-0e bears and is probably the only
preventive of lower prices In the railway
list. The passage of the tariff bill would
go far toward relieving the situation and
it is hoped that this relief viii not re longer
withheld. Washington advices were a trihe
more encouraging than yesterday, predict
ing the passage OF a satisfactory bill before
the close of another week The means of
accomplishing this much desired result are
still matters of speculation, but IL is reason
ably safe to assume that II concessions are
made the Senate will not be credited with
a majority. Trading on the prospects Of
no bill at all has been abandoned for tn.
more conservative course of anticipating
the remedial influence of a bill such as the
Senate has substituted for the radical meas
IRE submitted by the lower house. In the
opinion of Wall street no other course re-
mains open.
The action of the executive committee OF
Wheeling and Lake Erie in deciding to pass
the dividend for the current quarter re
the price of the preferred stock OF that
company. If the proportion of earnings to
operating expenses AMI fixed charges is re
sarded in a similar light by the officials Of
ether roads. similar announcements viii
likely be made at the fen meetings. The
Changers were Irregular, selling UP on COW
ering and reacting soon the dena nd
of the bears were satisfied. Elsewhere the
list was fairly steady and no important
changes were recorded.
Sugar attracted what little business there
was in sight and gained 5-S per cent from
opening figures. Powerful inside manipula-
uon so thoroughly controls the fiuctgation :
of this stock that many traders are de;cr-
red from trading on the prospective re
suits OF pending legislation. There u.s. how
ever, a fair demand for the stock from
rearly all classes OF commission houses
indicating the popular belief in an early
settlement OF the tariff debate. Distiilers
gained IL point on early trading. but was
Immediately forced down under a renewal
of the recent conspicuous selling
The market for foreign exchange contin-
ues nrin, with rates and conditions un-
changed. Many of the larger exporting
houses were forced TO increase their ship
ments OF gold, resulting in a net loss of
over S.2J0,O0 for the week. Bankers in
cline to the opinion that the tide must
shortly turn in our favor. but the supply of
gold IN the treasury will probably have to
De replen1Shed by more certain means
The banks have lost about Slgpep to
the subtreasury during the week, and the
reserve will be further reduced by charg-
ing on CT the gold shipments. The move
ment of currency from the interior has
been unimportant, and will have but little
effect on tomorrows averages.
The last hours trading was extremely
dull, and without special feature In the
regular list prices were generally lower as
result OF the days trading The in
hustrials Were irregular. but in the main
strong. sugar especially conforming to the
more encouraging prospects Of early tariff