Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-04-29
FINANCE. AND TRADE
London a Moderate Buyer Of Amer
lean Stocks.
SUGAR And POSSIBLE LEGISLATION
Selling Of the Railway List to
Secure Pfofits.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK. April 29.-London was a
moderate buyer of local securities this
morning and gave evidence of a DISPOSE
ton TO trade more extensively in the long
account Sentiment was generally optims-
tic, but the character of the trading was
not entirely satisfactory, owing to the in
diffeIe nce of outside interests. An in
creased volume of business would in all
probability be beneficial to values. but the
caution inspired by the recent revival of
almost forgotten incidents continues to OPP
crate against broadening market
The market fer foreign exchange is steady
within a small fraction of the export point
and gold shipments at the end of the week
are considered probable.
The recent selling of securities in the
London market 10y Paris brokers may
suit in an outflow of American gold to the
French capital, the ruling exchange rates
between Paris and London making this tri-
angular process profitable. Foreign houses
express no concern over the movement and
continue to predict its early discontinuance.
A reduction i'll the rates for refined su-
gars and the doubtful effect Of Germany's
determination to change the present ex-
port bounty law had a depressing infiu-
ence on the price OF the stock Of the
American company.
In well-informoi circles TO adverse leg
islaton against the property is considered
possible, but il IS considered probable that
efforts in this direction may be of almost
daily occurrence frcm now until Congress
adjourns.
A program providing for course Of pro-
oedUre for the balance Of the session may
he announced very shortly, and a more ac-
curate eStimf lie of the outcome can then
he made. Meanwhile Sugar. in sympathy
with the prevailing speculative spirit, will
likely be literally purchased on a scale
down.
the Changers, WAS credited TO proi.t-taking
by certain small pools organized for a
short camp aign on the long side of the
market. The absence of a general de-
mand is about the only serious drawback
to better prices in this department.
IT view of this fact, if subsequent events
establish il as A fact. lower Level of val
ues would in all probability inspire an in
creased inquiry from nou-profrssiUnal
sources. There is no pressure TO sell
stocks and non-aggresslvc desire to force
rec"ssions. consequently good news 81 'uld
find prompt reflection in values.
Selling by foreign arbiIraEe houses during
the last hour gave rise 10 rum1rS Of = pos
sibie large gold movement on Saturday
Estimates as to the total amount varied
from two to five millions nett her Of which
amounts could he confirmed. A. these ship
m"hiS are made under special conditions
similar TO the previous export movements
10 the continent they are not likely to at
tract more than temporary notice
Traders were moderate sellers Of the
more active issues, on the theory that
fractional profits would ne possible during
the period Of doubt preceding the actual
announcement of the total shipment.
The dizziness Of the market a. the de-
cline adds to the arguments already adj
of the trading from which today's frac-
uon2l change in prices resulted.