Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-05-27
FINANCE AND TRADE
Lessened Amount of Business and
Small Changes in Values.
EFFECT ON COMING GOLD EXPORTS
Professional Selling Causes Frac
tionaI Concessions.
GENERAL MARKET REPORTS
Special Dispatch TO The Evening Star.

Special Dispatch TO The Evening Star.
NEW YORK, May PA decreased vol
ume of business and minimum changes in
values were the dominant characteristics
Of today's purposeless market Foreign or
| ders were again an inconsequential factor,
the Indifference among local traders having
temporarily checked activity abroad. The
engagement of s1,2JOOO0 gold for export
tomorrow, while not unexpected, had a ten
dency to restrict speculative operation
The foreign exchange market continues
hrm under moderate offerings against Spe-
cial exports. slight change In exchange
rates at Paris may permit German bankers
TO accumulate some gold at that center
instead of resorting to the special process
so frequently employed in the local market.
1t Is not likely that Saturdays outflow
Will be materially decreased on this ac-
count, however, the duplication of tomor-
rows consignment being considered prob
able Sentiment has of late been influenced
adversely by the continued outward move
ment of gold. but in the absence of sig
| niilcant liquidation, prices have not been
seriously affected
RumOre that experiments with COM
pressed air were to be made by several
important street railway lines, with the
View of its adoption as motive power IL
successful, had a depressing influence on
General Electric tbs morning. The stock
has frequently been advanced of late on
rumors Of a probable contract for the
equipment of the Manhattan system. The
recent successes with the compressed air
process enforce Its recognition as pro-
pelling force and detract from the almost
universal presumption that electricity is
always intended to be substituted for the
older methods Of propulsion.
In a broader market a more thorough
demonstration of the reliability of the new
fierce would have been demanded, but under
existing conditions rumors Invested Of
Corroborative circumstances are sufficient
to influence prices.
The railway list was not, in a majority
or instances, changed more than one-half
per cent from the opening level. These
changes reflected declines In most in
stances, and were charged entirely to pro-
greSSiVe selling.
Sugar advanced on early buying to 1874
Tut subsequently declined / per cent from
this level on realizing sales. The character
of the recent buying in this property indi-
Gates that confidence in the ultimate action
OF the stock is unimpaired.
Washington aIvices continue disappoint-
Ing, lnaSmuch as they contain definite
Information as to the Gate Of the final adj
journment Of Congress. Recent events have
demonstrated the futility Of all efforts 10
revive legislation of all undesirable nature,
but should the session be prolonged beyond
the first convention the indefinite sitting of
beth legislative branches would be a con-
Stent menace TO values.
The adjournment Of Congress- the publ
cation Of party platforms and future crop
reports are factors upon which speculation
hinges for the balance OF the season. From
present indications, it is apparent that
good results are expected from all these
events.
Otherwise, this protractei period Of dull
ress would have attracted a more general
liquidation of long holdings. The trading
toward the close of business was un-
changed in character, The .iullness of the
morning being empha sized during this per-
iod. The final net changes fof the day
clearly reflect the disinuerestedness of the
general public.