Evening star., 1897-06-04
Granger Shares Continue to Show
Strength in New York.
SUGAR TOOK A TURN UPWARD
Chicago Gas Was Strong and
Weak by Turns.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK. June 4-The approaching
holiday season in London has already be-
gun to influence speculation at that CEN
ter, decreased demand and fractional
concessions being reflected In this morn
ing's early cables. Without the assistance
OF foreign buying the local market would
undoubtedly appear more narrow than is
generally supposed. Realizing sales In all
parts or the room were conspicuous during
the opening hour, in sympathy with this
change abroad.
The commission house demand at the
decline was fully equal to the emergency,
however. and no important declines were
recorded
The recent advance in the market vas
made possible. primarily, only 10y the rise
of the short interest outstanding at q time
when routine developments changed sud
denly in fayor OF values. The immediate
reeds for the protection of outstanding
obligations having been satisfied. profess
sional interest in the long account was
revived.
The purchases made at the end of the
former movement now show satisfactory
protts, and realizing sales are both prob
able and natural. The character of the de-
mand at the decline is manifestly better
than II has been for long time. and be-
SduSt VI tHls IdCt tne main situation Is
justly regarded as an improving one.
Experience suggests the improbability OF
continuous advance under the influence
of such a Volume of business as that which
now makes up the daily totals. A new
high level after each recession is not un-
warranted. and is almost generally regard
ed as probable.
Railroad earnings announced today COW
ering the last week and i'm some Instances
the full month of May. reflect encouraging
gains by comparison with the same date
last year. The granger shares reflect tho
nest Improvement in this particular. and
are consequently relied upon 10 lead the
market toward a higher average level.
There Is, at the moment, no occasion to an.
tlcipate disappointment in this particular.
but should unfavorable developments occur
the whole market. and not merely this
group, will be affected thereby.
The Coal shares were strong under the
influence of further covering in New Jer-
sey Central The advance In the latter
shares exceeded per cent. but no buying
more significant than that arising from
the demands Of the short interest was re-
ported.
Western Union was weak. notwithstand-
ing the customary weekly assurance of a
prominent director that the full dividend
would be paid from earnings. which promise
10 exceed those of the same quarter last
year.
The question involving the loss of the
present ticker service tends to encourage
confidence in such sales as those recorded
today.
An advance of Y per cent a pound I'm
refined sugars was reflected in a strong
market for the shares of the American
Company. The passing over of the sugar
schedule in the tariff bill was construed to
be favorable to the stock
chicago Gas was strong and weak by
turns throughout the day. The dividend
capacity of the stock continues to inspire
confidence in its future welfare The sign
ing of consolidation bills by the governor
while regarded as certainty, will probably
lie utilized TO still further advance the
price. The engagement of SJO0.Ooo gold for
shipment was announced during the day