Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-01-10
FINANCE AND TRADE
Declines in London Have Correspond
ing Domestic Influence.
Big SALES OF SUGAR AND GAS TRUST
Effect of the House Action on the
Currency Bill.
GENERAL MARKET REPORTS
ccial Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. January 10-FracttonaI
declines in the London market as reflect
ed by early cables to this side were in
strumental in forcing corresponding re-
auctions at the opening of our market.
The volume of business being small, no
Importance was attached to the subse-
quent irregular trading. the room element
alone controlling the course of prices.
The feature Of the days business was
the covering of a block of 15OO0 shares of
stock for the account of a prominent bear
operator. Sugar and Chicago Gas each
contributing 5000 shares to the total
amount of the outstanding obligations.
The practical defeat of the currency
bill. which was announced just before the
close of yesterdays business, had a bene-
fetal influence on prices because of the
recognized inadequacy of the measure to
present needs. The drain on the country's
gold supply is undated, however. and ap-
prehension still exists in financial circles
which an extra session Of Congress is
now relied upon to dispel.
Good judges of legislative probabilities
predict the failure Of the pooling BILL an
event which will complete the list of disap-
pointments credited to the present session
Of Congress. Notwithstanding the repeated
assurances that the railroads of the coun-
standards of prosperity BY conservative
legislation, the subsequent improbability of
such legislation has not as yet been re-
hected in the market price OF the stocks
directly concerned.
The railroad list was confined for the
greater part of the day between the ex-
tremes Of IA and 81 per cent on transec-
lions practically void Of Significance.
Chicago Gas was strong throughout the
session on buying for both accounts, which
added 1 Is per cent to opening figures.
The bears on this stock have endeavored
to defend their position with repeated
statements to the effect that the eastern
directors Of the company were all to retire
from the board leaving the company In
control OF such local interests as were
previously responsible for a most lamenta-
BILE state of affairs prior to the ENGRAVING
of the eastern element.
This argument was effectually disposed
of today by the announcement that Messrs.
Payne and Rogers Of the Standard OH
Company and Mr. John O. Moore of tho
firm Of Moore & Schley would go into the
directory at Mondays meeting.
The financial interests now centered In
this stock and the character Of the men
insure such development OF actual re-
sources as will surely be productive OF
orly desirable results.
The market for foreign exchange was
very strong with rates a full commission
higher than yesterday. Present indica-
tons favor a heavy shipment of gold by
Saturdays steamers, Sl,OW.po of which
has already been engaged from the SUD-
al bitrage houses aIe the most conspicuous
purchasers of bills.
The last hours speculation was dull and
in the main tri1e easier in tone. There
were no new developments beyond the
probabilities Of further gold shipments. the
decline being attributed to profit taking by
exceptions, the result Of the days trading
was moderately adverse to values.