Evening star., 1895-09-06
Foreign Houses Buyers of American
Stocks.
EFFECT OF TEE YACHT RACE
Weeks God Shipments Amount
to Five Millions.
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star.
NEW YORK, September 6.-Opening
prices inflicted fractional gains over those
recorded at the close of yesterdays busi-
ness, higher London market encourag-
ing the process. Foreign houses were buy
ers of st. Paul for the first time in many
days, and this action was taken as an in
dication of a favorable change in senti-
ment at that center. Prices were difficult
to hold at the high level. however. owing
to liberal realizing sales, and yielded the
greater part of the early gain before mid
day.
The yacht race tomorrow will be respons-
ftle for a decreased attendance at the
board and the evening up of contracts.
which would have naturally occupied the
attention of traders on that date was be-
gun by the prospective absentees today.
The market for foreign exchange was
extremely dull as the result of an almost
entire lack of offerings
Rates are merely nominal and all remit
tances are being made by actual shipments
OF coin. The amount to go out by tomor-
rows steamers will be upward of two mil
lions. raising the weeks total loss to five
millions. the bulk of which is reflected in
the loss in specie reported by the clear
Ing house banks. The treasury is none the
worse OF on account of these shipments,
but its maintenance Of the reserve is ac-
complished by artificial means, which, at
test, are never permanent.
The best feature of the weeks banking
operations is found in the item relative to
the interior currency movement. which re-
fleets an excess in shipments to out-of- town
banks of $l,JO0,000. This growing demand
for money is a positive indication that the
improvement in trade and commercial cir
cles is responsible for the recent advance in
values. and not a mere caprice on the part
of Wall streets active operators.
foo tr,ra nf f1.xra1
shares during the morning. selling down on
sales for both accounts. the failure to force
cut some definite information on the coal
situation resulting in the wise conclusion
that all recent statements have to say the
least, been premature. The coal stocks,
however, have not retired but temporarily
fro m the active speculative features.
The granger shares sold off fractonally
on profit, taking, as was the case yester-
cay, but the extent of the advance in this
group is the only argument not favorable.
The market dwindied into narrow and
professional affair during the later trading.
and the course of prices was consequently
void of all significance
American Tobacco was advanced 2is per
cent on the covering of short contracts,
| but the movement was unaccompanied by
any new developments.
The Sugar directors declared the regular
quarterly dividend of per cent on the
common and 3-4 on the preferred stock
of that company, the books closing on the
18th instant, dividend payable October 2.
The market for the refined product of the
company continues to show an advancing
tendency, but the price of the stock seems
| TO lag trif1e at the present level
The trading of the last hour was dull and
irregular. the railway list steadying up
fractionally, while the industrials, with the
| exception of General Electric, reflected con-
cessons from previous prices The reac-
| ton is ererally regarded in a favorable
| light and was not unexpected.
| Commission houses are confident that
next weeks business will again reflect an
| excess of purchases over sales, and. that
there is no radically discordant elements
| in the present situation.