Evening star., 1896-08-25
Beneficial Effect Of Reported Engage
ment of Gold.
FIGURING ON OTHER APPROPRIATIONS
Stagnation the Dominant Feature
in Speculative Circles.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. August 25.-The reported
engagement of 81 600 gold for import
had a moderately beneficial influence on
stock values this morning. Prominent for
eign banking houses are known to be fig
urinG on further importatiOns toward the
close Of the week should exchange rates
continue favorable.
The offering of 100000 on call, at six per
cent by prominent bank, after a previous
loan of sJOO,0OO had been negotiated had a
good effect on the money market. The Of
fering Of upward of 100000 subsequent
10 these transactions attracted no bid
higher than five per cent. The absence of
any demand for clearing house certificates
at today's meeting Of the committee was
favorably commented upon in financial cir
cleS.
The opposition of the stronger banks to
revival of this artificial means of relief is
still noticeable and may operate to prevent
issue in advance of actual necessity.
The success of previous issues and the ul-
innate benefit to all parties in interest
should discourage the presumption that
such action is the forerunner of financial
disaster
No successful expedient should be con-
demned for purely sentimental reasons
Clearing house certificates are not an evil
dence of prosperity, but they decrease the
probabilities of widespread hardship to the
money wing classes and consequently are
not lacking in merit.
As to the general market, stagnation
continues to be its dominant feature Prices
advanced during the early trading for rea-
sons previously noted but narrowness
promptly interviewed to prevent any sig
nifcant changes in either direc ton. Sugar
attracted the attention of the room ele-
mert carly in the day and was bought
moderately up TO 105. a gain of Ia per
cent from the initial price. Moderate COW
ering Of short sales in the general list re-
suited in gains varying from 1-2 to 3-4 per
cent.
The failure OF the Leather directors to
take action on the dividend was passed
over without notice.
Politics have given away, for the time to
a closer consideration Of the results at
tendant upon the proposed resolution
against national honesty. The uneasiness
lcrg confined to prediction, has at last cs-
tablished itself in all money centers. and
iraction.
The daily fluctuations in prices is con-
Sequently d mere professional interpreta-
tlon Of the outlook. The frequent evidences
OF inconsistency are due 20 the fact that
no large interests are operating, and the
penalties for mistaken judgment are not IS
speedily enforced as formerly.
The assurance that every possible pre-
caution is being taken to prevent per
manent injury to values is the most hopef al
aspect of the immediate situation
A decline in exchange rates late in the
day. offerings being reported at iS4Ia, while
generally regarded as a favorable develop
ment, failed to improve prices in the active
list. Declines. under moderate activity by
the room. extended, in many instances to
the full extent of the early gain.
The market is an exceedingly difficult one
to judge from day to day owing to the sig
nificanoe now given to events which would
have passed unnot.ced a few weeks ago
There would seem to be no occasion for
increased henSiOn- iS fbera
any material increase in the desirable fea-
lures of the speculative outlook.