Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-07-17
Railroad Shares Resist Assaults and
Business Quickened.
THE PESSIMSTS SUSPEND OPERATIONS
No Worry in Wall Street Owe,
Outgo Of Gold.
ZEN ERAL MARKET NEWS


Special Dispatch to The Evening Star.
NEW YORK, July 17.-Operat lions on the
short side of the Industrial list were sus-
pended this morning, and prices in all de-
partments improved in consequence An
effort was made to depress railroad shares
but stubborn resistance was encountered
which resulted in an abandonment of the
scheme. The covering of yesterdays sales
was responsible for substantial gains In
some instances, and sentiment for the mo-
ment is less pessimistic. The shipment of
an additional 100000 gold attracted no
special attention, as the exchange mar
ket Is not likely to be influenced thereby,
The syndicate's power to prevent any ma
terial outflow Is generally recognized and
occasional shipments of small amounts will
not be permitted to influence speculation.
The character of the days business, while
In the main beneficial to values, was none
the less professional, the absence of COM
mission buying attesting the lack of public
interest. There were no new DEVELOPMENTS
Of importance, and this fact, in a meas
ure, justif1es the prevailing narrowness
crop reports were favorable, but conserva-
tive traders are disposed to buy cautiously
at the present level, pending assurances
that the element of doubt. with regard to
the successful harvesting of crops now
above ground has been materially reduced
Earnings reported during the day reflected
encouraging Increases, but inspired little
trading. owing to the fact that comparisons
are still being made with last years strike
period. Sugar was the feature of the day
at an advance of 2h per cent, due to fur
Their evidences that the real condition of the
company's business has been underesti-
mated by those engaged in depressing the
price of the stock.
The short interest was too large to be
handled in the face of daily statements
from olncers Of the company that pros
porous times Were likely 10 be enjoyed for
the balance Of the year. Chicago Gas ad-
Vscced under demand from yesterdays
sellers, but there was no change in the
embarrassing situation in which the COM
pany has been involved since tine with
drawal of the Standard Oil party from the
management. All rumors relative to the
appointment Of a receiver are regarded as
premature, but it is by no means certain
mat such an expedient will not finally be
resorted to in order to determine the legal
standing Of the companies
furtner delay in determining the real de-
1ects IN the organization of this company
Will attract fresh attacks similar to those
which have lately detracted from five to
seven points from the company's stock in a
single DAY. The earning capacity of the
piant IS not doubted, but reorganization
may be necessary in order that stock
hoders may be benefited thereby.
tennessee Coal and Iron was advanced
3 per cent on liberal trading, in which both
accounts were represented As previously
stateu' the market position, of this stock is
IN the hands of strong interests, and the
effects Of raids by traders are lot likely to
1emain visible for any great length of time.
The trading of the last hour was active
and generally at the highest level of the
day. The Improvement was we'll distrfb-
rted throughout the active list, but opin-
ions differed as to how much actual buying
had been responsible for it. The short in
terest was materially reduced, and the fu-
ture course of prices will depend on the
character of the ventures undertaken by
ket.