Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-06-03
FINANCE AND TRADE
Effect Of the Passage Of the Bond
Bill
DISCUSSING THE CHICAGO CONVENTION
increased Earnings by Western
Railways.
GENERAL MARKET REPORTS


Special Dispatch tc The Evening Star
NEW YORK. June 3-The passage of the
Butler bond bill In the Senate yesterday re-
suited in some selling OF the speculative
list this morning, but not to the extent
generally anticipated. Fractional conces-
sions, varying from u to II per cent, were
recorded during the first hour, confidence
In the defeat of the bill serving to confine
The decline within narrow limits.
The moderate engagement OF gold for ex-
port Ey tomorrow's steamers less than
100000 being taken. was only partially
gratifying. owing TO accommodating evidences
of increased activity in this particular.
The federal gold supply must. If present in
dlcatons are not misleading, continue TO
contribute to the strengthening of the gold
resources of continental Europe.
The Chicago convention, until recently
disregdrded as being an iaconseQuent.al
factor, promises to be dominating infiu-
ence before the summer is over a two
thirds vote for silver being regarded as
probable. Foreign holders of our securities
may oVerestimate the Importance Of this
action and return local securities before
the real strength OF the two political crazes
silver and protection-are fairly tested
The ultimate triumph Of sound money will
not preclude at least temporary reflection
OF more undesirable possibilities. Under
the circumstances the present period of
cautious trading is not unnatural, q proper
regard for conservative business principles
FULLY Justifying inactivity pending some
dlminution of present doubts.
London sold few hundred shares of the
more favored international securities and
was largely responsible for the professional
selling subsequently recorded.
st. Paurs report for the fourth week in
May reflects an increase OF s. 62l-a falling
of of about 5000 from the reported In
crease for the third week OF the same
month. Rock 1slandas previously predicted,
made creditable showing of recent
earnings. The increase in net for the month
or May Is shown to be trifie over S34 Ubu-
total increase of 100000 since the begin
ming of the year. After paying the per
S5p.oo is reported against a deficit of
more than 100000 under the old per cent
rate.
In the Industrial list, Leather preferred
and Bay State Gas were features during
the morning, under the covering of short
contracts Sugar improved slightly during
the afternoon under purchases for both &C.
ccnnts, manipulation being credited with
the recent decline in the interest OF stock
accumulation.
Late advices from Washington predicting
the defeat Of the bond resolution in the
House had beneficial influence in values
IN all parts OF the list. The general char
acter OF the trading was not improved
traders alone being active The present
guinness may be overcome toward the end
oil the week by a movement discounting
the adjournment OF Congress
Should the adjournment be postponed for
any cause, stationary prices are likely to
prevail An effort &c extend the movement
from the date of this event until after the
announcement of the St Louis Dlstforn, "a
c. naiiere1 probable