Evening star., 1895-08-16
Speculation Void Of Significant
Feature.
GOLD SHIPMENTS NOT MUCH REGARDED
Promised Competition Of Tobacco
Trust.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK. August 16.-Speculation this
morning was, in the main, void of signifi-
cant feature. the range of prices being con-
fined within fractional limits London Of
Tered no Incentive to either account and
was practically without representation in
the local dealings
owing to the fact that the exchange mar
ket was somewhat better supplied with
drawings against grain shipments and that
no important cable transfers against gold
exports were in sight, the street was dis
posed to look more hopefully for higher
prices. Some gold will go out by tomor-
rows steamers. but not in SUFFICIENT guam
tfty to warrant an attack on values.
Printed reports to the effect that mem
bers of the bond syndicate had paid a
slight premium for gold bars caused some
uneasiness in quarters not familiar with
Wall streets business methods. In order
to secure as much gold bullion for the
treasury as possible the bond syndicate has
at times paid all express charges on bullion
and has allowed the usual commission to
brokers making the consignment. This
action, while of frequent occurrence, has
been utilized to magnify the gravity of a
situation already exaggerated beyond rea-
Sonable limits. Transactions in gold bull
ion are conducted along the lines employed
in the production and sale of any. other
commodity, and so long as only customary
recompense is offered there is no occasion
for alarm.
Outside of this subject there was prac-
tically no news Of importance on which to
base stock operations. American Tobacco
continues weak under sales for both ac-
counts. as the profits Of the monopoly are
soon to be cut into by Independent manu-
facturers. decline of 1 "a per cent
suited from the early selling this morning,
fractional part of which was recovered
during After
room.
Manhattan sold down on moderate trans
actions as the result of the statement of
earnings, to which attention has previously
been directed. Private advices from the
west indicate continued confidence in
large corn crop, and higher prices for the
roads transporting the yield are almost
unanimously predicted.
The trading in this group of securities
during the day while restricted in volume
fully reflected the confidence inspired by
such assurances. An important agreement
will be submitted shortly to the Trunk Line
and Central Traffic Association looking to
the establishment of a commission having
absolute power to make rates and enforce
penalties for any violation of the same.
For the latter purpose 1t Is supposed a
clearing house will be organized and mon
ey fines be levied, according to the charac-
ter Of the offense. This action will have
| an important influence in abolishing the
| periodical rate wars which have of late
| detracted from the legitimate profits of
| many otherwise -well-managed properties.
The trading of the last hour was In-
changed in charscter although in many in
stances the lowest prices of the day We're
those recorded toward the close of the ses-
sion There are no adverse influences in
the present situation that would seriously
interfere with a broader market. The pro-
fessional element now in control may lie
able to force temporary concessions from
time to time, but the widest range of val
ues will not be toward a lower level.