Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-03-16
Speculation Influenced by London's
Lregularity.
SUGAR WEAK ON FOREIGN RUMOR
Proposed Legislation by Germany
Discussed.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, March 16-Speculation was
influenced by London's irregularity at the
commencement of to-day's business. but all
things considered the outcome of the days
short session was very satisfactory. There
were several Instances of profit taking by
local operators. but beyond this the de-
clines, with one exception, were attribute
able to no significant developments. Sugar
was weak on the renewal of assurances
that Germany will take up the question of
increasing the export bounty on all native
sugars within the next few days. II Is
likely that such action will be exaggerated
by the manipulating interest in the stock
of the company in question in order to es-
tablish a satisfactory purchasing level, and
Incidentally to make a profitable turn on
the short side of the market
In the opinion of many competent judges
Germany's Legislation. no matter how bene-
fetal to her own refining interests. VIII
make no unfavorahle impression on the
revenues of the monopoly controlling the
American markets. A reaction Is regularly
due after the recent sudden advance OF
more than 10 per cent, and " foreign legis-
lation can be utilized in facilitating the
process its employment for such purpose
Is more than probable.
Covering in General Electric resulted in
an advance of 5-S per cent In the price OF
that stock, while realizing sales in Distil-
lers caused a, reaction of an equal amount.
The reorganization of the latter property
ID proceeding very satisfactorily anu gives
every assurance of being successful.
New Jersey Central was again conspfc-
uous, the prevailing desire to cover, pend
ing expected Developments in the coal sit
uation, marking the price up IA per cent
to 80 IA. The outcome of the develop
ments in question is scarcely likely to be
OF such Importance as to warrant the pres
ent movement.
New York Central was strong at an
advance Of 10 per cent. due to a general
Endorsement Of yesterdays action on the
dividend question.
The poor showing of earnings, however.
Is likely to cause some selling of this stock
in the near future. The Changers were all
strong, at fractional advances, sentiment
for the moment being opposed to any ex-
tension of the short interest In this group.
New England was strong on empty trad
ing, hut yielded to moderate realizing sales
toward the close of business. An order
was issued in the circuit court of the
United States discharging Thomas c. Plat
from the temporary receivership of the
property. The accounts OF Messrs. Plat
and Perry as permanent receivers were Or
dered to be filed in the circuit court Of
Massachusetts,.
The buying of New England during the
incident to stock accumulation, and Is be-
lieved to foreshadow an important railway
deal, the details of which at present can
only be surmised.
The bank statement shows loss of over
6k millions in lawful money, all in legal
tenders Loans show no particular change
from last week, when they were effected
by the bond purchase: the decrease in de-
posits. however, is somewhat inconsistent
with changes elsewhere.
decreased S, 1S9, $50, loans decreased $685.
200. specie increased $500 legals de-
creased $79O7, 500, deposits decreased S94I,-
$40 and circulation increased $4,000.