Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-08-26
FINANCE AND TRADE
Interest Centered in the Granger
Stocks.
TEE RAILWAY list WAS STRONG
Gold Exports Exciting Some
Discussion.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, August 26.-Speculation this
morning conferred largely in the granger
stocks, st. Paul in particular being in good
demand. Purchases Of about 10000 shares
OF the stock mentioned were credited to
the covering Of short sales made consider
ably under prevailing prices.
The operator for whose account the ma
Jority of such purchases were made Is now
on the long side of the market strong IN
terests behind the upward movement. hav-
ing compelled his abandonment of original
views Northwest and Rock Island were
advanced for substantial net gains, all adj
vices relative to business prospects SEEM
ingly warranting higher prices.
The strong optimistic circular on the fu-
ture of st. Paul sent out to the clients Of
the recently organized monetary trust was
undoubtedly an important factor in to-
days trading, comprehensive interpreta-
ton Of the argument making 1t applicable
20 the entire group of grain-carrying roads.
London sold some stocks at the advance,
but the volume of business from that GEN.
ter continues too small for serious consid-
GRAFTON as speculative factor.
The railroad list in general. while ne
elected in many instances, was strong at
timent Is strongly opposed to short sales,
the street arguing that the end of the va
cation season and the end of professional
domination will both be chronicled on the
same date. Concessions will occur from
time to time, of course. but purchases at
the decline will in the long run be found
more profitable than sales on rallies.
Sugar was active under liberal sales for
both accounts. further reduction in the
manufactured product inspiring an attack
by the usual bear element. This reduc-
ton in rates to the trade is the second
since last Wednesday and indicates the
necessity of making concessions in order to
attract business.
From all surface indications the desire of
the largest interests in the property is Lot
in the direction of improvement.
The attitude of the new tobacco COM
Dir alton continues to look genuinely ag-
gressive, the cigarette monopoly Of the
Anne rican company being liable to sudden
overthrow and decentralization. Arguing
from this standpoint, the room sold the
stock of the latter company down. to 95 81
a less of IA per cent from initial figures.
Unless some immediate agreement can be
reached by the rival concerns. the usual
contest for business will be followed by
violent market fluctuations.
The market for sterling exchange was
somewhat weaker in tone this morning
owing to an increased supply of cotton and
row in settlement of recent bond sales for
European account. There Is considerable
uncertainty as to what amount of gold
will go out during the week. but the opinion
prevails that the movement will show q
falling of from last week.
The trading Of the last hour was influence
ed by realizing sales in the more active
features of the morning, but the general
tendency of the market was unchanged.
Tennessee Coal and Iron was advanced
on purchases inspired by rumors of i'm
portant favorable developments in connec-
ton with the iron trade. The present sit
uation is working around to what promises
to be a complete verification of early fore
casts on the subject Of next falls market.
An increased public demand will undoubt-
eddy be Forthcoming and intrinsic value
will in all probability improve.