Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-08-27
FINANCE AND TRADE
Foreign Houses Liberal Purchasers
Of Securities.
TEE ERIE PLAN OF REORGANIZATION
Evidences of Commercial Prosper
ity Multiplying.
GENERAL MARKET REPORTS
pecial Dispatch to Tho Evening Star.

special Dispatch to Tho Evening Star
NEW YORK, August 27-This be,no
London's first making-up day for the reru.
lar ioctnightly settlements foreign houses
were liberal purchasers of all the interna-
tionai securities against short sales made
several days ago. Early cables from that
sue renected advances varying from Ia
10 "a per cent, and initial figures wera
advanced In the local market to the same
extent 1e
Inc publication OF the Erie plan OF re-
organisation had a beneficial effect on the
general situation, foreign houses esne-
claiiy being satisfied with its provisions
and probabilities Of success. Uncertainty
as TO the measures likely to be pursued by
the reorganization committee had a ten
dency to restrict trading, not alone in the
securities OF the Erie road, but elsewhere
IN the list where analogous conditions pre-
vaieo. me large foreign interest in the
properly necesstated the adoption of a
plan which would restore confidence not
only IN the management Of this Individual
ROADS affairs, but in American securities
generally, and this, It ia currentlv 10
lieyed, has been accomplished.
me foreign exchange market was some
what nrmer In tone this morning, owing to
q a., decreased supply of all classes of bills.
count, If continued on today's scale will
insure the presence of a fair volume of Sc
curlty drawings and will overcome the neces
sity for gold shipments of any considerable
AMOUNT The loss of a small quantity of
goa from time to time will attract little
attention at this juncture, however as evil
dences OF commercial prosperity are multi
plying on every hand, and will shortly
counteract all other influences. The VOL
ome OF commission transactions is showing
enoou,iasing signs OF increasing. and one by
one tne prophecies of midsummer are lining
up IN the column Of realities
Inc granger stocks We're inclined, IN
De irregular within small fractional limits
81: faui Being an exception at the hiphest
good buying. VI
The entire group became strong later IN
me day on the resumption of buying nv
commission houses, the clients of which
were influenced by further reassurinp ad
vices on crop conditions.
An advance in Denver and Rio Grande
resulted from the purchase of a few hun
| dred shares for foreign account. and mod
crate assistance from traders familiar with
| the present earnings of the property.
Inc lndustriais were active and irregular
seiiin2 down during, the morning and adj
van:~>s sharply later in the day on buyine
1of both accounts Sugar was advanced hv
the same interests who were tdentif1ed Sr,tS
the previous decline. and for no special mr.
pose apparently, conditions being unchang
eu. Inc reduction In rates has attracted
nttie business and may be followed later in
.ne season by further cuts to wholesale
purchasers. As previously intimated how.
| ever. questions of policy are more notent
IMAM all other considera lions whore this
stock Is concerned '1iS
Inc Trading during the final hour of bus-
II ess was active and, in the main stronv
az the pest prices of tie day Sentiment ri
results. " "ieiihdte