Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-02-12
FINANCE AND TRADE
Reported London Gold Shipments
Make Values Go Up.
MORE hope MPREVAILING SENTIMENT
Probable Effect of the Finance
Committees Action.
GENERAL MARKET REPORTS
Special DISPATCH to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, February 12.-The reported
shipment Of f2SI,G0 gold from London this
morning and the probable shipment of
double that amount later in the week,
caused some apprehension in the ranks of
the room shorts, which was reflected by
advances over closing figures, ranging from
IA to 10 per cent. The short interest in
the market is at the moment the strongest
bull argument in the street. The inflow
OF gold on account of the bond issue will be
utilized to the best possible advantage in
forcing reduction of outstanding con-
tracts. and traders rally of a few points
may result.
Actual conditions outside of Wall street
are practically unchanged, and consequent
ly furnish little material on which to base
any sustained advance. The prevailing
sentiment during the early trading was de-
cidedly more hopeful than yesterday, but
the later trading was irregular and disor-
gani2ed.
The action of the Senate finance commit
tee in recommending a bill providing for
the unrestricted coinage of silver promises
to work additional humiliation to values
and revive financial diStruSt. During the
life OF the present Congress the bears Will
never lack for some incentive to depress
values. Northwest was again a conspicu-
Gus feature of the days trading, the down.
ward tendency being again pronounced On
continued skepticism relative to future
dividends. The balance of the grange
group was barely steady in sympathy.
Manhattan sold up 5-S per cent on cover
ing shortly after the opening, but yielded
later to renewed selling by the professional
element for a loss of l 3-S per cent. Frac-
uonal concessions were current in all parts
of the regular list, but the small volume of
business prevented any marked decline.
Sugar sold up l per cent during the first
hours business, but forfeited all of the
early gain on the receipt of Washington
advices indicating that Friday had been
decided upon as the day for acting on the
proposition to repeal the differential duty
on the imported product.
Chicago Gas was marked up on cover
ing, induced by western advices, stating
that the new directory would be chosen
today. The subsequent adjournment of the
meetings until Thursday without action
caused some selling by traders and occa-
stoned q pronounced feeling of disbelief in
the beneficial effects of the change in man.
asement. 1t is likely that liquidation will
follow the announcement of this change,
as local politics are again assuming an
undesirable attitude toward the best in
tereStS of the property. Some covering in
General Electric added fractionally to the
price of that stock, and elsewhere no i'm
pOrtant changes were recorded.
Louisville and Nashville and St. Paul re-
ported decreases in earnings for the first
week in February OF $4,000 and S99, los, re-
spectively. Posted rates for sterling ex-
change reflected a decline of IL per cent
from yesterdays quotations.
The receipts of commercial bills were
limited in supply, but bankers report an
easier tone in this market as the result of
the bond issue and the temporary reversal
of the shipping movement.
The trading OF the last hour was only
moderately active, some covering around
delivery hour causing advance from
the low level of the preceding hour. At
tention again win turn toward Washing
ton, as the cause of prices Cor the present
Will reflect the attitude of Congress on the
financial questions row under conSidera-
ton. Final figures, while Irregular, were
moderately steady under traders opera
TONS