Evening star. [volume] (Washington, D.C.) 1854-1972, 1894-03-28
FINANCE AND TRADE
Wall Street Facing the Future With
Confidence.
HIGH HOPES FOR BETTER VALUES
Effect Of the Delay on the Bland
Bill.
GENERAL MARKET REPORTS.

special Dispatch to The Evening Star.
NEW YORK, March 2s-l,ondon buying
was again a pronounced feature in the
local trading, and initial figures all along
me line we're improved in consequence.
Early cables reflected an Improvement
varying from IA to 1-2 per cent, and a de-
ciuediy strong speculative tone. Arbitrage
houses ara executing more orders for for
.eh account than at any previous time
uufing the year and are confident of in
creased activity.
Inc market was not altogether satisfac-
'o'9' owing TO its narrow and professional
ac,er' but prices held well in spite of
ueiay IN returning the Bland bill
hao depressing effect ON the valurns OF
business. but did not alter the conviction
that IL would be restored finally and give
tne market an additional Incentive 70
aeuVlty. one OF the most significant feat
ures IN the present situation is the fact
that the industrials are not permitted to
nohopoize all the business Stocks In the
regular list are daily participating in the
markers evolutions and many properties
ina. nave long been neglected are now
coming 10 the front as speculative favor
ties. This Is due 10 the brighter business
outlook and the indications of increased
earnings.
Another important factor is found IN the
Iact mat notwithstanding the pessimistic
predictions of the bear Contingent diyi-
dends have been paid as usual II is true
mat these disbursements have In some in
stances been at the expense Of almost a
complete annihilation Of surplus account,
but the money thus distributed was mart
OF the net earnings. and was not borrowed
for the purpose OF keeping I'D sppearsnces
AFTER the legislative uncertainty is disposed
of 1t is expected that the legitimate ele-
ments Of speculation win be fayors bic 10 a
complete restoration OF ante-pansc values.
Union Pacific was among the Conspicuous
features OF the day and gained 4 is per
cent on liberal buying by prominent houses.
The upward movement was assisted nv the
covering of shorts. Louisville and Nash
vile was surprisingly strong at an Advance
of 3-S per cent to 81 IA. This stock has
been favorfte with shorts for some time
back in consequence Of its monotonous ar
ray of decreased earnings. but owing 10 the
ceaseless efforts Of a pool In the property
shorts have invariably been squeezed Deia-
ware and Hudson gained 2 IA per cent 70
13s "a on moderate trading for long account
Reading was inclined toward weakness
during the morning, selling down IS per
cent to 10 IS Later gain OF per cent
nouncement that certain favorable rnodif-
cations will be made in the proposed plan
OF reorganization.
Sugar was fairly active ana Irregular.
using poht UT cary seinns, ana regain
ing It during the afternoon. The pool IN
National Lead continued their campaign
against the floating short interest in that
property, and marked up the price after q
reaction OF 1-2 per cent to IS Is
The market for foreign exchange opens
barely steady, with little demand from re-
mitters. The Indications now point 70 a
further decline In rates. There is no ma
terial increase In the supply Of CONNER
cial bills. but the drawings against stock
purchases are sufficiently abundant to pre-
clude the possibility OF gold exports
The last hours trading was strong and
dull. with prices generally showing frae-
tional gains for the day.