Evening star., 1895-01-31
Opening Prices Reflected an Improve
ment Over Yesterday.
RUMORS REGARDING A FOREIGN LOAN
Prevailing Opinion is That the
Crisis Has Passed.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK January 31.-Opening prices
this morning reflected an Improvement
over last nights finals ranging from IA
to 1-2 per cent, as the result of return
Of confidence in the London market. A
reduction of 1-2 per cent TN the posted
rates for foreign exchange was an added
incentive to improved values. Rumors of
ar important correspondence with foreign
bankers relative to the placing of large
block of 4 per cent bonds were IN c1rcula-
tion from reliable sources and were gen.
orally credited in consequence.
1t Is expected that some important ofti-
cial announcements concerning this subject
will be made within the next few days.
The opinion prevails that the crisis OF the
financial situation has passed, and that
efforts will be speedily set on foot to cur
tail the possibility of early duplication
Of the scare witnessed at the opening of
the week.
Saturdays steamers will take out a
round sum of gold. as indicated by further
Withdrawals today. which, added to those
previously reported. make the weeks total
engagements $11,5OO.UOO. Some solution of
this aggravating financial conundrum Is
expected in time to decrease next weeks
ef1i1x.
Manhattan was again the conspicuous
feature Of the speculation in railway shares,
liberal purchases by both classes of traders
marking the price up = 1-2 per cent. Friends
Of this property are quoted as believing
that intrinsic value would not be lost slsnt
of at a substantial advance over prevail
ing quotations..
TIE covering of recent short sales In
Louisville and Nashville resulted in gain
Of 1-S per cent and a fair volume OIL busl-
r ess attributable to the same source added
l per cent TO the price of Missouri Pacific.
The Changers were all strong during the
morning, gains varying from IL to 81 per
cent being recorded throughout this group.
The Industrial list furnished an excep-
ton to the general tendency OF the mar
ket in the case Of General Electric, which
yielded easily under the pressure OF Tree
offerings of stock.
Liquidation and short selling, in antici-
patton of an adverse decision In an I'm.
portant case effecting the life OF many OIL
the company's more valuable patents were
assigned as the basis for the movement.
Chicago Gas was strong on the report
that an effort will be made within the next
day or two to vacate the injunction now
operattng against the new interest in the
property.
1t is likely that the old board will be
given a minority representation in the new
organiza tion and that all opposition to the
new directory will then be disposed OF
through local influence. The demand Tor
the stock today came largely from Chicago
houses.
National Lead was marked up IL per
cent on covering largely and some buying
fer long account partially. The affairs OF
this company do not warrant renewal
of operations in the interest of the short
account
Prices shaded off in the last hour under
realizing sales and moderate selling by
the professional element The market may
be described as waiting one. but 1t shows
unmistakable signs of a willingness to
respond to any favorable developments.