Evening star., 1895-01-26
Less Apprehension Than Yesterday
In Wall Street.
BOND issue THOUGHT TOBEINEVIrABLE
Europeans Liberal Sellers of Amer
ican Railway Securities.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, January 2G.-The discussion
of the financial situation was again q
monopolizing factor IN speculative circles
this morning, but the feeling of apprehen-
sion was a trifie less pronounced than yes
terday. The latter condition is the result
Of assurances that a bond issue is inevita-
BILE, and that the Official announcement Of
the administrations wishes In the matter
will be made early next week.
There is nothing but temporary relief
promised by such action. and the funda-
mental evil, the inadeQuacy of the present
financial policy. remains as basis for
future legislation and a stumbling block to
prosperity.
The shipments of gold to Germany by
next Tuesdays steamers are now estimated
as aggregating over $2,500,00o, and the
prospects favor a liberal continuation Of
the movement during the week, Adyices
from Washington on the subject of these
ment Of gold is construed to be a device Of
the bankers to force an issue of all gold
bonds and to influence next weeks meet
ing of the finance committee. The preju-
dice against the national banks, pro-
hounced among certain classes Of legiSla-
tors. is responsible for the indifference
with which this subject has been received.
The absurdity of this position is now
clearly demonstrated by the weeks devel-
opments in the local bond market.
European holders of our best railroad
mortgages have been liberal sellers of both
gold and currency bonds, on the theory
that gold is likely to go to a premium, and
that interest obligations may not be
promptly met owing to the addltional DIS
blIsement made necessary by such
premium. This action OIL the part Of for
eign holders is significant and should of it
self be sufficient to force serious and i'm
mediate legislation on the subjects In
volved.
AS feature of secondary importance,
National Lead was a pronounced success,
the days trading resulting in a decline of
IA per cent. The liquidation of a large
block of speculative holdings is still held
out as the motive for the decline. but the
real reason is reserved.
The trading was conducted on the same
liberal scale as that noted on Thursday.
and surface Indications furnish no. clue as
to the probable limit Of the decline. A de-
cline in the preferred stock equal to one
half of the decline in the common followed
from a sympathetic selling movement.
Chicago Gas was bought by brokers usu-
ally acting for the new interests in the
property, but no important change in price
was recorded. Sugar was heavy on selling
by room traders in anticipation of the effect
of the dScussi )n on the House bill.
The railroad list opened down from Is to
1-2 per cent in sympathy with lower
level Of values in London Manhattan was
the feature of this department, selling for
both accounts resulting in a decline of IL
per cent. Covering operations resulted in
gains Of 1-2 per cent in Northwest and Jer-
sew Central and elsewhere prices were kept
st eady under purchases by the same class
of traders.
The bank statement shows a less of $751;
200 in lawful money, all in legal tenders.
the increase in specie being offset by the
loss in legals. The remaining features or
the statement are uniniportant.
The gold bars withdrawn from the SUBJ
treasury have been bonded by The banks
in anticipation of a premium on that met
bursements. The statement in detail fol-
lows: Reserve Increased s415,SI1; loans
decreased S164, 800; specie increased, 3d.
its decreased, s., 10000, and circulation de-
creased S91 200.