Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-08-22
London Spectators Taking Profits
on st. Paul,
INDUSTRIALS ATTRACTING ALL EYES
A Determined Bear Clique in Sugar
Trust.
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star
NEW YORK, August 22.-Opening prices
this morning Were slightly lower than
those recorded at the close of Yesterdays
business. but subsequently, advanced under
well-distributed volume of business.
London took advantage of the higher
prices recorded yesterday to realize on long
nolalngs the sales of st. Paul for foreign
account being pan ticularly noticeable.
Inc market for foreign exchange was
unusually dull remitters We're not dis
posed to pay bankers rates for foreign ac-
ccmmodations, in view of the fact that in
oicauons OF general shading off in rates
are daily multiplying.
Increased offerings of grain and four
bills were reported and all classes of COM
merclal bills were fracticnal!y lower The
absence of cable transfers against pros-
pectlve gold shipments is encouraging in
dlcatipg an early collapse of the outward
movement
The railroad list was again forced into q
position of secondary Importance the more
volatile industrials again monopoliZing the
bulk of the days trading. The trading in
sugar again demonstrated the presence of
a determined opposition to Improvement
A reduction in the company's manufac-
tured product, which extend to all grades
aided the depression during the early
transactions, but covering operattons later
In the day advanced the price for a SUBJ
stantial gain over initial figures. In trade
circles further reductions are generally ex-
pected, which will, as a matter of course
be reflected by concessions in the market
value of the stock.
Chicago Gas was depressed at the OPEN
ing on the prospect that the validity of the
Fidelity Trust receipts will be determined
by Judicial inquiry in the very near future
A buying movement inaugurated about
the noon hour in the interest of the short
account forced the price back well beyond
opening figures, but sentiment was not in
harmony with the change in figures.
American Tobacco sold up 2 per cent to
e6 during the first hour, but was literally
sold down to 93l2 on assurances that the
independent manufacturers would immedi-
ately begin the manufacture of cigarettes
ard invade the territory of the present
monopoly at every possible point This
latter determination is generally regarded
as serious menace to the profits of the
American company, and prevailing senU-
ment is strongly pessimistc on the future
of the stock.
With tangible evidence of the ability to
prevent any serious depletion of the treas
ury's gold reserve and the probable early
discontinuance of liquidation in the indus
trial list. railway speculation should short
~ become of such a character to in
spire confidence in much higher prices
In some sections, notably along the lines
of the Rock Island system, crops are ready
for transportation, and increased earnings
must soon be reflected in weekly state
mentS
Public interest in speculation will revive
Immediately that evidences of financial
growth are reflected in these published re-
ports, and the present level of values Will
gradually give way before increasing
and legitimate demand from investors.
The final dealings were unchanged in
the main features, with prices steady
around the best for the day.