Evening star., 1895-02-02
FINANCE AND TRADE
Small Volume of Business in Wall
Street Today.
EFFECT OF THE COMING BOND issue
Outlook is Declared to Be Decid.
edIy Encouraging.
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star.
NEW YORK, February 2.-Opening prices
this morning were about a parity with
| those recorded at the close of yesterdays
business and We're but little changed by
the small volume of business which char
acterized the days operations. The. Lon
don market holds we'll under assurances
that the bond issue will dispose of all ap-
prehension relative to the maintenance of
geld standard.
There were no new developments at
Washington, but the street is confident
that the exact terms and conditions of the
lew loan will be announced not later than
Monday. In view of this fact traders We're
disposed to curtail their operations until
Cme official statement is made by the
authorities in charge of the preliminaries.
RumorS that the bonds will bear interest
at the rate Of : 1-2 per cent instead of
nau tendency to diSconcert traders, as
the latter rate had heen regarded as as
sured. Inc outlook at the close of the
week is decidedly encouraging, however,
ard all uneaSiness relative to the CURRENCY
agitatlon mas been dispelled for the time
being, at least.
The manifest willingness on the part of
the treasury officials to cooperate with
and TO consider the propositions of the To-
cal banks is construed to be sufficient
guarantee that no bonds will be issued in
any way repugnant to the wishes of those
1he railway list was practically without
feature during the entire morning, owing
10 the narrow trading of the room ele-
@ l.ent IN no instance was any change
WCftny OF analysis recorded The short IN
tereSt mas been greatly reduced during the
last 1orty-eight hours, and in the absence
OF outside interest the market has lost a
valuable element of support
The bond issue will be used to nrofitable
advantage by the believers in higher
prices, Out the rally is, from surface con-
diuons, likely to prove only trans STORY
Snort selling and realizing operations at
the advance will check the upward move
inent before any remarkable progress has
been made.
In the industrial group Chicago Gas was
faVorlte with brokers and traders close
to the purposes of the new interests Yes
terdays assurances of early settlement
OF the western situation were renewed
TINS morning, and unless some unforeseen
obstacle arises 1t Will not be surprising to
hear OF change in the nianagement of
TINS property early next week
Representatives of the Standard Oil inter-
ests have been constantly at work on a
plan to defeat the object sought to be
gained by the recent injunction and all
legal objections are now believed to have
been satisfactorily and effectualiy over
come.
General Electric sold up / per cent in the
first hour on an evening up of traders
contracts at the close of the week, but
the higher level led to a revival of the
selling movement, the wisdom of which it
is hoped will be sustained by the Supreme
Courts decision next Monday.
National Lead was weak at a reduction
of 1 II per cent the intention to further
raid the stock being decidedly pronounced
The best information obtainable on this
property is thoroughly inconsistent with
the prevailing tendency of the stock.
Large assets, no debts and assurances of
continued dividends avail nothing, how
ever, ard for some unexplained motive
lower prices are feared as well as pre-
dicted. Sugar was steady around opening
prices on a fair volume of business.
The bank statement, as foreshadowed
yesterday, reflects loss of over Sl2,0G,-
UH to the banks, all in legal tenders These
notes have been paid into the subtreasury
during the week in exchange for gold. This
change has brought about a similar re-
duction in deposits, and a decrease of over
@o00GO0 in the reserve, reducing that item
to $50. 100000.
The small increase in loans is unimport-
ant. The statement in detail follows: Re
serve decreased, $9,12S,95o; loans increased,
s1S6,S00; specie increased SS.99OO; legals
decreased. S12.6i5, 100; deposits decreased,
Sl2541, 400, and circulation increased, sol, 900.