Evening star., 1895-04-26
FINANCE AND TRADE
Professional Spectators Preparing
for a Reaction.
ACTIVITY AMONG THE COAL STOCKS
jersey Central Leads in the Move
ment.
GENERAL MARKET REPORTS

| Special Dispatch to The Evening Star.
NEW YORK, April 26.-Opening prices
were strong this morning, with slight frac-
| tional gains prevailing. The professional
element was strongly Of the opinion that a
reaction was imminent and marketed some
| of its long stocks, forcing moderate conces-
sions from the higher prices at the open
ing. The result of the weli-dstrbuted ad-
vice to buy stocks on all concessions was
| manifested in general buying demand at
the decline. 1t is worthy of note that the
recognized bear leaders, who are now con-
spicuous among the reactionists claim
only such a setback as would be consistent
| with general prof1t-taking by the room.
There are no Indications of any invest
ment selling, and the impression obtains
that the stocks sold at the present level
Will be hard to recover except at a sub
stantial advance next week There are no
new developments of kind likely to en-
| hance the present intrinsic value of rail-
way shares, but the street, having un1im-
tied confidence in future prosperity, con-
tinues to discount probabilities. London's s
early prices were all higher, with the ex-
ception of ST Paul. the fractional shading
off in the price of that stock encouraging
some selling of the granger group by local
traders.
During the first hour concessions varying
from IA to 1-2 per cent were reflected in
| this class of securities, but were mostly
recovered later in the day. The securities
of the Southern railway declined under real
izing sales, the common stock losing 1-2
and the preferred 7-S per cent. The man
agement of this property is credited with
a desire to advance the price of the stock,
and organized manipulation is likely to be
employed to this end.
Manhattan was marked up "a per cent
on a fair volume of business, attributed
largely to traders.
The coal stocks were active, Jersey Gen.
trail leading. On easy trading the price Of
this stock gained per cent to 95 1-2, and
sold Off, under a few sales, to first prices.
Covering at the decline again restored the
higher figures, but the price was barely
steady at the advance. Reading sold down
fractioDaily at the opening, but sold up for
a net gain Of IL per cent during the morn
ing. The coal trade situation is seemingly
as remote of settlement as when negotia-
tions were first instituted. although the
statement is made that in order to avert
will be forced upon the recalcitrant organi-
cations.
Sugar opened strong at an advance of
IL per cent and sold down 7-S to 107 SIS, at
which point good buying was noticed, which
forced the price back to the best figures of
try is unusually promising, and an early
advance in the price of the refined product
is considered likely.
Distllers was strong on rumors that
sharp advance will follow the payment of
the final installment under the reorganiZa
tion plan. This payment should be made
on Monday. American Tobacco was strong
under good inside support.
The tone of the foreign exchange market
was somewhat easier, but the concessions
reflected in actual transactions was small.
The demand from remitters is reported as
bought for European account pass through
houses connected with the bond syndicate,
the drawings against purchases do not
come into this market.