Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-05-26
FINANCE AND TRADE
Effect of the Continued Loss in
Specie.
new YORK'S RAPID TRANSIT PROBLEM
Encouraging Crop Prospects and
the Granger Shares.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NV YORK. May 26-Stock values were
fractionally depressed during the initial
trading this morning, but subsequently re-
sponded to professional buying for moder-
ate gains. London did but little and was
not a factor in the local trading
Careful estima ties as to the amount Of
gold likely to be shipped toward the end
OF the week reflect a probable loss of &c.
100000 in addition to the 81 $4,000 sent out
today. The foreign exchange market con-
tinues steady under moderate offerings
against gold shipments and is particularly
sensitive to any increase in the demand
from remitters
The continued loss in specie has produced
a well-defined spirit OF uneasness among
the trading element, since its recent recog-
milton of the fact that no large outside in
terests seem willing TO begin an aggressive
campaign under present conditions. There
is no pressure to sell, except for the short
account, and consequently nothing more
serious than a traders movement Is i'm
mediately probable. Both accounts will he
utilized in rejecting the varying moods of
the professional element
Manhattan declined per cent during the
morning, under moderate liquidation and
an extension of the short interest
The appointment Of O. subcommittee to
devise a plan of rapid transit at today's
Official acknowledgment of the necessity
for immediate action in this particular.
The defeat Of the plan submitted by the
rapid transit commission makes an OPEN
ing for the elevated authorities, and IL Ia
not improbable that the defects in the
commissioners plan will be remedied and
submitted on behalf of the elevated road.
No matter how promptly efforts in this
direction are undertaken present dividend
prospects will remain unimproved. All
new schemes require new supplies of money
and cannot become Immediately remunera-
tive.
The failure to inspire more than tenn
pcrary confidence In the wisdom of higher
prices for the stock of this company is not
unnatural under the circumstances.
Burlngton's April statement, now about
due, will not in all probability, be en-
tirely encouraging, but notwithstanding
the tardiness of the corn movement con-
fidence in its ultimate Influence on the
earnings of this road prevent any sig
nificant selling.
Sugar was the active feature of the in
dustrial list, selling down to 121 "a under
renewed liquidation at the opening and
subsequently rallying under an improved
demand.
The skillful manipulation OF :he last ten
days has resulted in revival of conf
dence in the future speculative value OF
the property. A per cent decline in the
price OF Consolidated Gas was recorded
during the forenoon on a fair volume of
business.
In other parts of the list prices were
steady and aim ost entirely neglected. The
trading of the last hour was dull and
void of feature. The more active issues
were, in a majority Of Instances. frac-
tonally improved. but the percentage Of
gain and loss in the general list was in
significant. Until the short interest as
sumes proportions justifying a rally the
present purposeless market is likely TO
continue.