Evening star., 1896-03-25

KEEPING An EYE on WASHINGTON
Gossip Of the Spsculaton ia
Sugsr.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, March 25.-A moderate vol.
ume OF foreign buying and an increase Of
$l15.9O0 in st. Paul's earnings for the third
week this month resulted in fractional ad-
vances in all parts Of the active list this
morning. Some covering of yesterdays
sales in sugar also had a beneficial in
fluence on values. The rally failed to at
tract any new business, however. and
traders were soon persuaded into selling
movement. during the progress Of which all
the early gains were extinguished.
A more accurate estimate of legislative
probabilities. particularly those affecting
our diplomatic relations, inspired a con-
servative buying demand later In the day,
and the general tone of the market i'm
proved somewhat. The attitude of the ad-
ministration on the Cuban question is gen.
orally regarded as being of such a char
acter as to remove all apprehension, even
should a presidential message on the SUBJ
ject be submitted later on.
While yesterdays Sugar sales were I'm
progress the street, very naturally, inter-
preted the movement as being the result of
predicted, undesirable legislative move,
but the pi aspects of foreign Intervention in
the raw sugar market We're equally import
ant factors. The question of encouraging
an increased export trade through the me-
dium of pounties and their equivalents is
being agitated in several foreign countries,
and if decided In the affirmative would
surely force a sharp reduction i'm the price
Of the refined product.
The result of competition of this char
acter would be seriously felt by the Amer
lean company but not for long, the well
known resources of this corporation en-
able it to make the most of every trade
condition no matter how adverse surface
conditions may be. Some sales for inside
account have been In progress around the
recent high level and lower prices may
be encouraged in order to increase present
holdings. but ultimate results are not like
ly to be disappointing.
American Tobacco WAS again significantly
steady. and the unconfirmed rumors of q
resumption of dividends were freely cir
culated in explanation of the stocks ac-
tion. An important movement in this prop
erty is reasonably certain in the very near
future.
The declaration of per cent quarterly
dividend by the Postal Telegraph Com
pany. being the first disbursement to the
stockholders of this corporation. was one
OF the most important Of the days an
nouncements
Heretofore surplus earnings have been
devoted to the extension of the company's s
strvice and to internal development. To-
days announcement indicates confidence on
the part of the management to successfully
&C mpete with rival lines, maintain its pres
ent standard of proficiency and to reward
stockholders to the extent of per cent a
year.
The buying Of the Granger shares was a
trff1e more substantial in character, COM
mission houses of the better class buying
conservatively on the belief that an in
creased corn tonnage is likely to be re-
ported during the balance of the season.
The gold plank in the state platform was
construed into an optimistic argument, be-
lief In the final adoption of such plank by
likely.