Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-08-16
Signs Of a Better Outlook for Western
Railways.
ENCOURAGING REMARKS OF OFFICIALS
Eany Unconfrmed Rumors From
Washington.
GENERAL MARKET REPORTS
Special Dispatch 20 The Evening star.

Special Dispatch 20 The Evening Star
NEW YORK, August 16.-London prices
again furnished the incentive to a strong
Opening in the local market and resulted in
general covering of yesterdays short
SAFES. Inc sentiment Of the room continues
buiilsh' Notwithstanding the irregular char
acter OF the weeks trading and the ex-
tn me sensitir eness of the more active
stocks. Western railroad conditions show
daily signs of improvement and officials
are quoted as believing in a profitable han
ding of traffic for the balance If the wear.
The outlook is encouraging for an classes
of conservative dividend-payinG stocks. and
the increased demand from the investment
public for this class of securities is conclu-
siye proof of their until recently neglected
Id rits. Competing covering orders in Bur-
lington resulted in an early advance of
1 3-S per cent St. Paul ana Rock Island
were also advanced ON covering. Missouri
Pacific was a conspicuous feature OF the
trading in railway shares and gained =
Ter cent on liberal purchases for both ac-
counts. New York Central sold I'D I "A
per cent on a limited demand and "a, bal
ance OF the list reelected less~. improve
ment and more moderate dealings.
Washington proved a prolific source of
unconflrmed rumors, which alternately sery-
ed the purposes of both classes of traders
Sugar opened at a reduction of 81 Der cent
on reported attempts to further interfere
With the provisions of the new tariff bill
but was quickly advanced Ia per cent on
purchases Tor inside account The situa-
uon, SO lar as IL concerns this industry, is
unchanged, and II is generally believed that
any attempted legislation hostile to the re-
inning interests would meet with prompt
defeat The Importance of a tax on sugar
from revenue standpoint. argued by
Secretary Carlisle is amply sufficient 10
prevent legislation designed TO usurp the
place of ordinary campaign Documents
Disullers sold down on early trading to 10
~ but advanced l Is per cent TO initial
figures on covering. General Electric was
fairly active at an advance of 1 3-l Der
cent on prospects Of improved business ana
Chicago Gas gained 1 per cent on room
trading.
The market for sterling and continental
bills was weak with a downward tendency.
Bankers regard the recent action of this
market as entirely consistent with the sea.
son OF the year and predict a gradual shad.
ing on in rates. The negotiating OF severa
large foreign loans will result in an early
return of some of the gold sent abroad dur.
ing the last few months, and should En-.
rope continue buyer Of our securities a
fair proportion of the years exports should
he recovered
The money market is unchanged. both as
to rates and general conditions
The last hours trading was without
special feature. prices holding steady az
slight concessions from best figures The
Changers absorbed the bulk of the final
trading in the s-sslsf 4ist but did not in
Gre Sresss o, their value The inaus,Eials were
less active than> tsfrifef N TIE day and in
are inclined To wait Until more definite ana
Conclusive steps are taken in the direction
OF settling the disturbing legislative influ-
encts now at work before encouraging any
advance in the price of that stock Final
figures were irregular. but in the main
steady