Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-08-15
Speculation Remains Favorable for
the Bulls.
GRANGER STOCKS are PUSHED Up
The Result of Good News Regard.
ing Crops.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, August 15.-Opening prices
were inclined to irregularity this morning.
but the main features of speculation con-
tinue favorable to the long account. Lon
don was dull at our closing and was
scarcely considered by local operators.
The market for foreign exchange shows
further evidences Of weakness and gold
exports by Saturdays steamers are not
likely to assume alarming proportions.
Offerings of drawings against exports of
grain continue to furnish the desired re-
lief in this respect and are expected to
increase in volume during the balance of
the season.
The reports of weather conditions in the
west denied the probability of frost in the
corn belt and were the basis for renewed
buying of the Granger shares, Burlington
in particular profiting by the movement.
New England attracted attention by
opening at an advance Of per cent over
closing figures and subsequently adding
31s per cent to initial figures. The reason
for this erratic action Is due to the scarcity
of stock in the street and the urgent de-
mands of a disappointed short interest.
The present price of this property Is the
result of an absence of borrowable certin-
Gates as sentiment is strongly opposed to
the perpetuation of a fictitious value.
Distillers sold off during the early deal
ings, but subsequently rallied under buy
ing for both accounts. The term OF the
receivership is said to have been profitable
to the company, but the destruction OF the
monopoly once enjoyed will interfere with
future profits to some extent An EFFORT
will be made to advance the stock in sym
pathy with any imp ovement in other parts
of the list, but it is not likely that any
material advance will be permitted for
some time to come.
Tobacco was again active on descend
ing scale, as the result of rumors Of a
strong Independent organization which
will contest the field with the preSent.com-
bination. Sugar was steady under the an
nouncement that the demand from the
trade continues to absorb the major por-
ton of the available refined product.
An advance in rates Will probably be
announced before the close Of the week,
which will be the signal for renewed buy
ing of the stock.
ending June so reports a surplus OF $319,-
T99 over charges, as against 1898, 7U2 for the
same period last year. These figures attest
the correctness of previous statements rela-
tive to the serious competition of the
surface lines.
The regular quarterly dividend of 3-i
per cent was declared on National Lead
preferred, the question of resunling dis
bursements in the common stock being
postponed until the regular monthly meet
ing. The company is said to he doing a
business fully justifying an early resump-
ton of dividends on the latter ISSUE but
a conservative business policy may cause
a further withholding of present profits.
There is considerable quiet speculation go
ing on, however, i'll anticipation of an ad-
vance. due to the official announcement
that the management is again willing to
put the stock back among the dividend
payers.
The afternoons trading was dull and
uninteresting, owing to the absence of any
non-professional demand. The anthracite
coal sItuetion premises to remain for an
indefinite period in its present 'msatisfac-
tory state and no important movement is
likely for the present. Reading may be-
come active should active reorganization
be announced but on trade conditions
alone there is nothing to base any import
ant undertaking. The Changers offer the
best evidences of increased traffic and
fall receipts are likely to stimulate active
buying in this group.
Profits derived from. this source will be
invested in roads entirely removed from
the grain districts, ard eventually the en-
tire market will become active in SYM
pathy with the enthusiasm inspired by
agricultural prosperity. The future of
speculation is therefore more interesting
than the present, as traders terms are APP
parently the only quick profits offered
under existing conditions