Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-02-18
Selling Gold at a Premium Attracts
Some Comment.
WASHINGTON ADVICES WITHOUT EFFECT
Coal Stocks the Feature of the
Days Operations.
GENERAL MARKET REPORTS
Special Dispatch TO The Evening Star.

Special Dispatch TO The Evening Star.
NEW YORK. February 1S.-Initial prices
this morning We're about a parity with
last weeks finals, but subsequently be-
came irregular under disconnected profess
sional trading London cables reflected a
lower level for the several international
issues, but there We're no important selling
orders from that side. Some transactions
in gold at commission of 3-S per cent,
which is virtually a premium, attracted
some comment, but the street recognized
| that no profitable speculative movement in
that commodity is likely at this juncture.
The demand for gold is entirely attrihu-
table to the new loan, which, it is expected
will be put on the market tomorrow. De-
posts of coin at the assay office during
the day continued on the same liberal scale
noted at the close of last week. The pro-
vision in the sundry civil bill, as reported
to the Senate, authorizing an issue of $780,
0oooUo ) per cent bonds, while the nearest
approach to desirable financial legislation
at this session. had no important influence
on prices, its defeat being generally re-
garded assured.
The coal stocks were the features of the
days trading, the continued weakness of
Jersey Central attracting attention 10
other members of the same group. In the
stock named decline of / per cent TO Sl12
was recorded on liberal offerings by trad
ers At this low level ii is doubtful if the
bad showing for the month of December
and the decreases reflected in the annual
report have not been sufficiently discount
| ed. Delaware and Hudson yielded easily
to a selling movement for a loss of 2i2 per
cent, and Lackawanra lost IL per cent in
sympathy with the prevailing spirit of
pessimism engendered by the outlook for
the coal trade
Sugar was strong at 81 per cent gain
over opening figures due to assurances
that the Washington situation is favorable
to the best interests of the company Ma
| tional Lead was dull throughout the day
around Saturdays closing figures. The div
idend on this stock for the current quarter
will be passed, the earnings for that period
not justifying any disbursement to the
stockholders. The official announcement On
this subject will be made, in all probability,
on Thursday, but it is not likely to be
news to those who participated in the re-
cent unexplained drive at the stock.
The market for foreign exchange was
dull to firm, with general conditions I'M
changed from last week. The receipts Of
commercial bills from interior points were
small
Later Washington advices relative to the
proposed issue of S1ooooo,Wo treasury GER
tificates bearing interest at per cent, as
referred to above. were decidedly more en-
couraging, as the silver element In Con-
gresS is understood to be willing that the
measure should become a law. AS these
certificates are to he applied to the pay
ment of current expenses, the gold situa-
tien is not affected by the provisions OF
the new bill.
The sale of these certificates for legal
tenders would accomplish as much in the
direction of sound financiering as the re-
cent issue of gold bonds, and on terms
more consistent with popular ideas on this
subject.