Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-09-04
Reports of Prospective Gold Ship
ments Caused Selling.
FEELING ON THE OUTLOOK UNCHANGED
Coal Stocks Again in Good De-
mand.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, September 4.-The engage
ment of upward of $2,0OoOo0 gold for ex-
port by tomorrows steamers prompted con-
siderable realizing in the more active rail-
way shares this morning, but the declines
in majority of Instances were only tenn
porary. From the character of the trading
throughout the day it was evident that
tie trading element is preparing for at
least moderate reaction by reduction of
long holdings. Sentiment is unchanged on
the general outlook, however and ultimate
results are construed none the less advan-
tageously because of the profit taking now
noticeable. Commission houses continue to
be an important factor in speculation and
are executing the bulk of their orders for
the long account.
The coal stocks were again in good de-
mand for both long and short account,
the customary rumou of immediate action
on the part of the several presidents &C.
companying the trading. No new develop
ments in this connection were reported
during the day, and the mysteries of the
situation are apparently as far from solu-
ton as ever. An advance in rates for
refined sugars was announced rather sud-
denly during the morning, and an active
covering movement at once ensued, which
advanced the price of American Sugar
2ls per cent. The street is not disposed to
surrender its opinion that the desire of the
largest element in the property is for lower
prices in the near future Tennessee Coal
and Iron Was active under a good demand,
which advanced the price to AZ, the highest
point since the resumption Of active trad
ing few weeks ago. The low-priced
stocks, as is usual after a period of pro-
| longed activity in the general list, are
again attracting the attention of conserva-
HI ftC.. ion f,f
vance as surrounding business conditions
improve.
The foreign exchange market was steady
throughout the day, with sterling rates I'm
changed al the recent concession. There
ere practically no security bills in the mar
ket, and commercial drawings are insg-
nitlcant.
The shipments of gold by tomorrowes
steamers are largely in settlement of inn
porters' accounts, and would show almost
no profit as a mere commercial transaction
by brokers. The gold paid out on this ac-
count is promptly paid into the treasury
by syndicate banks or trust companies act
ing in harmony with the syndicate's action.
Trade conditions should within the next
month dispose of the Necessity for this ar
tificial support.
The meeting of the several tobacco firms
in this city this morning adjourned with
out special action until tomorrow after
noon. 1t is understood that cigarettes will
be manufactured by the individual firms
without any of the characteristics of a
trust and active competition with the
American company be invited. 1t is claim
ed that the profits of the present monopoly
viii be seriously impaired by this resolution
on the part of the independent manufacture
ers, whose aggregate invested capital is
practically double that of the trust.
The action of the coal stocks, Jersey Cen
trail in particular, was the feature Of the
final hours trading, she short interest in
the property mentioned being responsible
for a sharp advance
The general list was steady during this
period, and in several instances the high
est prices of the Gay were realized. The
Changers were less active than heretofore.
but held up well in sympathy with the
action Of their neighbors.