Evening star., 1894-03-26
FINANCE AND TRADE
General Advance in the Railway
Stocks.
EFFECT OF A BLAND BILL VETu
Spectators Will Sell on the Rise
and Prices VIII Drop.
GENERAL MARKET REPORTS.

Special Dispatch 10 The Evening Star
NEW YORK, March 26.-Today's market
opened strong at advances varying from Ia
to IL per cent. and held well throughout the
morning. The volume OF business was not
extensive. but trading was well distributed.
Railroad earnings announced today reflected
decreases over corresponding period last
year, but indicated some slight relative
Improvement. Traders were uniformly
bullish and bought moderately of ali ,hs
better class of stocks.
washington advices were decidedly conn-
dent in their predictions of a veto for the
Bland BILL the only doubtful point being an
TO the date of its announcement The pre-
Naliing opinion is that the immediate effect
OF this action viii be to throw the bulk OF
the stock recently absorbed by the room on
the market in order to take advantage Of
the higher prices. The liquidation that will
follow from the adoption of this course VIII
produce &. reaction, which will temporarily
discount the good effects which might other
wise follow the defeat of this unpopular
measure The ultimate result. however 10
sure to be in favor of improved stock values
and broader and more satisfactory range
of speculation.
The activity in the bond market is posi-
tive evidence Of the desire on the part OF
investors 10 put out their money 80 as 10
secure small return. The better class OF
bonds is daily becoming more ana more de-
pleted, and investors must of necessity turn
TO the divldend-paying stocks as the only
means or employing their idle funds TO good
advantage. This fact, together with the
assurances that railroad traff1c is on rbe
mend and that earnings Will soon apnear
IN their proper column, encourages the be-
toward higher prices.
Inc grangers were all strong on a fair
Nolufhe OF business, resulting finally In
slight gains. Rock Island declared its reg
oraI 9uartsry dividend Of per cent, which
encouraged some buying, and St Paul was
{ DID up on the rumor that the Fehruarv
statement would be decidedly 1910
lake Shore was the most conspicuous feat
ure IN the railway list, gaining ner cent
10 LII on good buying Illinois Central
gained per cent to % and Missouri PACING
gained rs per cent to Is
Iopaeco was again prominent In the in
austrlal group, aad gt II ed 3-4 per cen, To
% Ia. This company is reported 10 he do
ing good business. and higher prices are
expected in the near future, as friends Of
e,, .,S STOCK nave taken IL in hand with this
END IN view. Sugar was oily moderately
aSuFe. ana gained l-2 per cent TO 30 ID
me feeling on this stock is SIN hullish
put tne date OF the rext campaign is not
seherally known. D.st5llers begins to lock
a trine heavy around current prioes rof
wlthstanding the fast that the pool brokers
are diligently at vcrk distributing hun
points. The contract between this con-
p2ny and the distributing associated is nor
or much value TO the former and cannot
DC seriously considered as a bull argument
Inc market for sterling and Continental
bills was steady around last weeks cloSin-
rates. No gold will go abroad by tomor-
rows steamers, and none is likely TO 20
before the last Of the week, IL then
burInstonls annual report shows that
earnings Tor the year decreased s7l5ODO
ana that after paying the last dividend
only $4,000 remains in the surplus account
Ihls Is regarded as a somewhat narrow
construction of a corporations obligations
to its stockholders
The last hours trading was a repetition
or the early dealings, with prices near their
pest The market has developed consider
able resistance and is easily influenced bv
good news The closing was dun at frac
tional gains for the day.