Evening star., 1895-05-29
FINANCE AND TRADE
Discussing the Crop Reports From
the West.
AN AVERAGE CROP Is LOOKED FOR
Sugar the Feature
IndustriaIs.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, May 29.-opening prices
this morning were steady around last
nights closing figures, and subsequently
became irregular under narrow and, in the
main, professional trading.
The London market was dull and slight
ly lower the approaching holiday season
at that center being responsible for
| marked falling off in the volume of busi-
ness.
The government weather reports failed
to confirm yesterdays rumors of damage
by frost, and some covering of short sales
ersued. The stocks most conspicuous in
the decline were the subjects of fractional
gains in consequence of this effort to re-
cover yesterdays sales. 1t is practically
impossible to estimate, with any degree of
accuracy, the exact extent of the damage
to growing crops resulting from the sud-
den fall in temperature throughout the
agricultural districts.
The best opinion, however, seems to be
| that after all of the reports prepared for
speculative purposes have been subjected
to more deliberate examination an average
crop at least will be found to be within the
range of probability.
The buying of the Granger shares, while
unimportant in volume indicated marked
i-SsitdHCS oH part 10 stay
short of them at the present level. Ten
| ressee Coal and Iron sold off on early trad
| ing for a decline of 5-S per cent.
TIE extent of the recent continuous ad-
vance In this property fully justifies the
decline and in no way impairs the value
of previous assurances that higher prices
are to be expected in the very near future.
Pacific Mail sold down on realizing sales,
but the decline is not likely to remain per-
manent..
In the industrial list Sugar was the
feature at an advance of / 5-S per cent.
The room has sold this stock during the
week on the presumption that the destruc-
tlon OF the small fruit crop would serious
ly stated, it is altogether improbable that
he earnings of this company will fall be-
low the amount necessary to continue pres
ent dividends a least.
American Tobacco was fairly active and
decidedly irregular, selling down 1 per cent
TO ia during the first hour, and subse-
quently rallying to 115 3-4 on purchases
said to represent both accounts. The bal
ance Of this group was steady around first
| prices and attracted little attention.
During the afternoon the market was
| chiefly influenced by the evening up Of
| traders contracts over tomorrows holi-
| day. Should London come into the market
as purchaser of our securities next week
| the advance will be resumed and will prob
ably extend beyond the best figures thus
| far recorded.
The res ctionists will continue to clamor
| for lower prices, citing the average prices
OF few months ago in justification of
| their arguments, but to conservative op-
orators it will likely occur that the prices
previously ruling were much too low to be
consistent with improved conditions and
prospects.
1t is therefore likely that the Interrupt
| ton to the advance may continue briefly,
but no important decline will materialize
| as the product of conditions now in force.