Evening star., 1897-04-14
FINANCE AND TRADE
Advices From Washington Cause q
Fall in Sugar.
ANfI-GAS TRUST LEGISLATION
AStatement Favorable to the Coal
Stocks.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

special Dispatch to The Evening Star
NEW YORK, April 14.-The advance In
prices at the close of yesterdays business
iaiied 10 Impress London this morning. ir-
regular. but chiefly lower. quotations being
reported throughout the American depart-
'neht- Disregarding the lack of sympathy
openihs prices. In many instances reflected
inooerate fractional advances. The uoui-
datfoh or long stock In American Sugar
ana chicago Gas was the feature of the
eariy trading. declines exceeding per
cent being regarded In each c>,hese pron-
critics during the first hour.
A general reduction in all grades of re-
hned sugars and the recognized certainty
OF hostile preliminary legislation at Wash
lngton were credited with the DECLINE I'm
the first named security. As the selling
was easily traced to interests bur recently
active In an opposite direction. no signifi-
ean, an,, support was encountered during the
The same liquidation of speculative hold
lngs was noticeable simultaneously In Chi
cago gas. IN ~
Tne reported recommendation for sixty
cent gas. 10 be made in the Illinois senate
during the afternoon. was utilized To assist
,ne depression. The buying on a scale
"oWn was OF the same confident character
as that heretofore noted
report IN the Pennsylvania
state senate on the subject of an ipyestipa
tloh OF the Lehigh and wilkesbarre rail-
way was construed to be favorable to the
coal shares " 'ne
Inc snort interest in this groun v-as
credited with some covering by reason of
Inc Ialiure OF this device. The unfayorsble
condition of the trade is. however an ar
Sument worthy of serious consideration
ard needs no artificial assistance. for The
time being a. least
Inc New York Centrars funding scheme
was today publicly announced and differs
III no material respect from the prevailing
forecasts on the subject The plan provides
for an issue of $1,000 90 3I1 ner cent loo'
year gold bonds to be used for the purpose
OF refundfnS higher interest-bea,fng debt
Inc amount Is a trifle larger than was
generally anticipated. as about one-third
CT the amount is all that Is necessary TO
provide bonds maturing at any early date
Inc sale OF the bonds 20 Messrs. Morgan a
20. VIII DE ratified by the shareholders of
TIE Harlem branch on the 18th of Nav and
py the shareholders of the Central on the
-5th OF the same month. Details of the
plan VIII be announced as speedily as pos
sihle ~ Po'
The buying of the stock was said 70 he
LOT investment account. but the best prices
were recorded prior to the announcement
OF tne action above mentioned. Realizing
sales by investment holders and some imi-
tatire selling by the room forced the frac-
tlonal reaction recorded toward the close
OF the day.
The general list reflected the scarcity of
legitimate buying. but is absolutely void of
significant pressure to SELL Predictions of
a better market are abundant on all sides
nut the aggressiveness essential to such re-
suits is not in evidence Positive argu-
mentS are not offered, and those of a neg
ative character have clearly outlived their
usefulness.