Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-05-05
Gold Exports Caused Selling
Throughout the List.
CONCESSIONS MOSTLY FRACTIONAL
Scant Interest in the Railway
Shares.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star.
NEW YORK, May 5.-The outflow OF
gold by today's steamers and the certain
ty Of large shipments on Thursday. 81 &c.,
600 being already assured, resulted in pro-
fessional selling in all parts of the list.
In most instances the concessions were
only fractional, but the tendency to de-
preciate values is becoming daily more
pronounced Smorg the trading element.
There is an absence of any real pressure
to sell, however, and II is not considered
probable that the decline Will extend be-
yond the narrow limits usually incident
to room movement
The announcement of an advance Of l-32
In transportation charges by the Hamburg
American line will not interfere with Thurs
days gold shipments. The large order
from Germany known 10 he in the local
market, and only partially completed. Will
justify shipments even at the advance in
carrying charges. The offerings Of draw
ings against gold shipments, IN addition to
a moderate supply of grain and security
bills resulted in a somewhat easier ton4
for foreign accommodations.
The declaration OF the regular dividend
on the preferred stock of the American
Cotton OH Company, this morning, and the
perfect harmony among the directors on
all questions of policy, while not aneXpec--
ed, was one Of the days favorable develop
ments. The action of the securities of this
company since the recent unwaranued raid
clearly indicated determination or the
part of the management to a there TO es-
tablshed customs.
sharp decline in Laclele Gas, a security
brought lately into prominence by an i'm
portant law suit involving the perpetual
ton of a literally constructed charter, was
ascribed to the repeated disappointment as
TO the date of the opinion on the points
involved. From the fact that the stock
has been bought on all concessions during
the last two months, the inference 10
Natural that a victory for the company ia
considered probable.
The early adjournment Of the Supreme
Court gave rise to rumors of a postpone
ment of the decision until next fall and a
liquidation of long holdings ensued
Outside of the specialties there was no
feature to the market, the interest in rail-
way shares having dwindled to such pro-
portions as to deprive quotations Of any
real significance. Should no new Incentive
develop during the next day or two II is
likely that today's purposeless market will
be duplicated indefinitely.
sugar was less active than usual and
nuctuated within narrow limits, fractional
concessions from the opening level attract
ing the most business. The lower-pricei
ton, and consequently We're not materially
changed in value
Bay State Gas opened at substantial
advance over closing figures. but immediate
ly sold off under realizing sales. The Bos-
ton gas Situa ton has been greatly imprDV-
ed by the recent transaction involving this
company, and eventually some important
speculative enterprises will be undertaken.
If present intentions prevail.
The trading during the last hour was dull
at uniform concessions from in" opening
level. Any good news would find immediate
reflection in higher prices, whereas frac-
tional declines seem fully equal 10 express
ing the disappointment felt at the occas .onal
happening of undesirable events. Frequent
disappointment. however, must in the long
run prove unprofita BILE.