Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-05-19
FINANCE AND TRADE
No Significant Changes in the
Quotations.
BELIEF In YET LOWER PRICES
No Change in Business Conditions
During the Week.
GENERAL MARKET REPORTS

special Dispatch to The Evening Star.
NEW YORK, May ie-The opening OF
tooays stock market was steady around
closihg prices and without significant
chahss In dominant speculative conditions.
Lohoon was fractionslly higher. but with
out feature. Sugar came promptly TO the
'front.' as favorite and held its position up
10 ene close. All sorts of rumors were cir
cuiated against this property and selling
orders came In rapidly from all quarters.
Nhlle there is little doubt that n fair pro-
portion Of the selling on the recent decline
has been for short account A. Is eou.llv
true that the liquidation OF the hull nooi
caused the first break To what .xtent
this liquidation has gone is of course nm
known and IL is impossible TO Judge OF TIE
probable course to be pursued from now ON.
Many incline to the belief that low prices
have not yet been reached, but a l5-point
reaction rarely produces a safe basis for
bear operations.
After opening of ct a reduction OF ID
per cent, the price was advanced to IS ID
amo from this point the decline was practic-
any uninterrupted down to 81 AT this
polnt general movement to buy back the
STOCK put out around the opening served 10
steacy the price, and closing figures were
D. per cent In advance Of the lowest
Inc total sales during the two hours OF
$3.50 .oShtl OLlH lnree thousand shares
Oh yesterdays heavy trading The balance
OF the Industrial list was not rnaterially
altered closing at small fractional conces-
sions.
Manhattan was again active at a further
cecllne OF 1 3-4 per cent to lis l-2 Friends
OF the company are not alarmed over the
recent decline. and consider Il a natural
consequence of continued business depref-
sion.
The Changers were freely sold during the
Gay, but with less effect than yesterday the
advance in wheat having a tendency TO keen
values steady. The sentiment Of the room
continues besrish on this class OF stocks as
decreased earnings and reduced dividends
are inevitable unless existing conditions are
speedily improved.
The trade reports for the week show that
business conditions are practically in the
same relative condition that they were AT
the beginning Of the month and that the ef-
fects Of the delay in concluding the tariff
debate are even more pronounced. The pass
age of the tariff bill can be counted on to
mark up prices. but until the indefinite
event transpires the shorts will probably
pay the expenses of intervening rallies
The gold shipments for the week aggre-
gate about six and quarter millions and
have begun to attract attention as factors
in speculation They are not likely to be-
come serious. however, as ba mixers say that
another government bond issue would nnd
a good market abroad, and turn the gold
movement in our favor.
The bank statement shows that the
banks have lost considerable cash during
the week, and have been unable TO extend
their loans. The statement. in detail re-
ports: Reserve. decreased. E635, $50: loans
decreased. Si15Ooo; specie increased, slJ6-
200; legals. decreased, s2,O27. 600: deposits,
decreased sa39.4oo and circulation, de-
creased, Ss4 200