Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-01-04
FINANCE AND TRADE
Continued Withdrawals of Gold for
Export Depress Prices.
RUMORS OF 4 GRANGER BEAR POOL
Gossip Regarding the Chicago Gas
Trust Dividend.


Special Dispatch to The Evening Star.
NEW YORK, January 4.-The continual
ton of yesterdays covering movement and
the modest bull effort inspired thereby had
a beneficial influence on early prices this
morning The demand did not extend be-
yond the first hour. however. realizing sales
and some transactions for the short &C
count resulting in a lower level of values
in all parts of the active list. The charac-
ter of the trading unimproved, the
professional element being responsible for
the change in prices. Continued withdraw
ais of gold for export, aggregating in the
neighborhood of s2500,0O0, had a discour-
aging effect on prices and nullified the
effect of yesterdays assurances that a
special message was being prepared to rem
edy the causes for this drain on the federal
gold supply.
Additional advfces relative to the passage
of the pooling bill by the Senate point out
several undesirable features in the amend
ments to be offered during the progress OF
the debate on the measure. Its passage in
some form is generally conceded.
Rumors of a large bear pool in the Gran
gers, organized for the purpose of profit
ing by the disappointment which is likely
to follow the Senate's vote on the bill, are
not generally credited among the best in
formed. The course Of prices in this group
of stocks was somewhat irregular, Rock
Island being well held at an advance OF IA
per cent, while Northwest and St. Faul de-
cliend "a and 3-S per cent respectively.
Lake Shore sold up Is per cent on trans
actions involving only a few hundred
shares and dropped from the highest point
to the lowest between sales without salts
factory explanation.
Sugar was fairly active during the morn
ing, selling up easily for a gain of Us per
cent and then yielding to liberal selling
orders for decline of IL per cent from
the best recorded price of the morning.
Evidence of the arrangements disinclina-
ton to mark up the price of this stock is
not lacking, hat beyond this the room has
absolutely nothing to trade on pending de-
telopmentS in Washington.
Chicago Gas gained 81 per cent during
the first hour, and subsequently reacted
for a net loss of 81 per cent from initial
figures The streets attitude on the sub
ject of the next dividend was marked by
less assurance than heretofore owing to
the prevailing impression that several of
the more conservative members of the
beard Will vote for a moderate reduction
in the rate. In spite of this remonStrance
il is practically certain that the usual
cash dividend of 1 IL per cent will be de-
clared within the next few days
The foreign exchange market opened
steady on a small volume of business. The
receipts Of bills from the interior were in
significant as a factor in Influencing rates.
No drawings against gold exports have as
yet out in an appearance, and the opinion
prevails among bankers that recent ship
ments have been necessary to meet obli-
cations maturing abroad, and are not the
result of speculative movement in the
interest OF small profits
The loss Of gold at this season of the
year would attract little comment were
it not for the fact that the movement was
advance OF the January interest Settle
meutS.