Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-07-13
FINANCE AND TRADE
Engagement Of Gold for Export Does
Not Influence Prices.
SYNDICATE BANKS STILL IN CONTROL
Little Speculation Outside the.
'lndustriaIs."
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, July 13.-Speculation out
side of the Industrial issues attracted little
attention this morning. prices in conse-
quence remaining almost stationary, frac-
dcrally under first figures. The engage
ment Of qua rter of a million gold for ex-
port after the close Of yesterdays business
was not considered signiican by the syn
dictate banks and was practically void of
influence or the course of prices. The con-
troll of the exchange market has not been
surrendered by the bond syndicate, and
there is little likelihood of any important
outflow at this time AS part of the pres
emit professional manipulation gold exports
may be attempted in the future, but the
real purpose of the movemen mt will be read
lily detected and should fail for want of
successful deception.
The Granger shares were steady at frac-
tional declines, but attracted only a re-
stricted volume of business. The selling Of
this group by prominent bear leaders dur
ing the last few days has temporarily over
Swallowed the favorable features of the
crop situation, and higher prices are TO a
considerable extent dependent upon the ne
cessities Of the short interest The selling
during the week has by no means been con-
Quoted exclusively in the interest of the
short account, as realizing sales have been
conspicuous feature Of all rallies at
As the floating supply of stock has been
increased by such sales, the needs of the
short interest are consequently not press
irg. and increased aggressiveness on the
part of the bulls will be essential to i'm
| mediate Improvement. Earnings during
the week have been encouraging, and
should continue to improve from now on.
The several reorganiZations now In pro-
gress are expected to assume more definite
form in the near future, and should en-
courage some activity.
Readings plans will attract the most at
tention,. perhaps, as the entire anthracite
coal situation will be Influenced by the
future management OF this property, the
poverty of which has alone prevented its
domination of this important industry.
The industrial situation has lost none Of
its complexity during the week, and is still
disturbing factor in speculation: The
Chicago Gas situation Is but little inn
proved, and now that the validity of the
trust under which the Fidelity Trust re-
ceipts were issued is to be inquired into,
new grounds for apprehension are dis
closed.
The conditions which Influenced the
Standard Oil interests to abandon the prop
erty stili exist and there is little desire to
buy similar experiences, even at 70 per
cent reduction.
Sugar sold down to the lowest point OF
the week under sales for both accounts.
the professional trading being most prom
inent. There was no special news on the
property, the importation Of foreign sugars
overcoming all arguments relative to the
needs of consumers and the oversold con-
dition of the soft sugar market
Distiliers sold off fractionaNy on further
evidences of intended litigation by former
owners of the property. but the buying
capitalization of the United States Leather
Company is being severely criticised in GER
tain quarters and lower prices for the
stock of this corporation would speedily fol-
low any general adoption of current argu-
ments.
The bank statement contains few features
of Importance, the falling off in loans being
the least desirable. The changes in cash
holdings are Insignificant. The detailed re-
port follows: Reserve, Increased. Sl231 600:
loar.7. decreased, s2512 700; specie. decreas-
ed, s231 GOO: legals. increased, $9S7, 400; de-
posts, decreased, 81 ,903, 200, and circulation,
increased. 1890.