Evening star., 1895-06-12
FINANCE AND TRADE
Upward Movement in Values is Con-
tinued.
OPTIMISM FHE SPIRIT OF TIE HOUR
Continuance of Purchases From
London.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

SIecial Dispatch to The Evening Star.
NEW YORK, June 12.-UDder the leader
ship of the Changers yesterdays advance
in values was resumed this morning with
further substantial results. Optimism is
the fad Of the hour and higher prices in all
departments seem probable. The crop re-
port arrived very opportunely, as the better
element in the street needed only such as
surances as therein contained to begin an
active campaign on the long side OF the
market 1t may be that manipulation is
relied upon to greater extent than in
trinsic value in the present movement, but
the latter factor was entirely ignored a
few months ago when the bears were in
control of the situation and 1t should cause
no surprise II the present enthusiasm should
tend toward infation. These charges of
manipulation originate mainly in the sold
out bull element and the chronic I,essipllsts
of the room. The presen. movement in
values Is upward and facts ara much more
for the advance than they are against it,
and to that extent the movement must be
regarded as legitimate.
London continues to buy guardedly and
again came slightly lower for our securi-
ties, but the situation at that center con-
tainS nothing unfayorable and will improve
later on. Reactions will be frequent during
the present movement, but the rebound is
likely to establish a new level of values and
attract a greater volume of business.
Burlington was bought in round amounts
up to So. and was the favorite stock of its
group. with conservative operations. Rock
Island and Northwest were also in good de-
rnand on an advancing scale, both accounts
being represented in the process.
Lake Shore sold up to 149 on q fair
volume of business, a gain Of IL per cent
from first prices.
Pacific. Mail sold up "a per cent on a
of h,,Sfn
Ccal and Iron was strong around yester-
days best prices.
The coal stocks were only steady. the
strength of the rest Of the list discourag
irg any further selling of this group. Tho
room element is watching this group care
fully, and any sign of weakness will at
tract liberal short sales
The settlement of the bituminous coal
strike in Ohio and the resumption of work
by the strikers is an encouraging feature
of the situation, and will have a beneficial
influence on sentiment
The publication of Western Union state
ments for the last quarter reflects the COM
mercial prosperity throughout the country
in manner which far-sighted operators
will do well to observe. This company is
directly in touch with the business world,
reflection of the prosperity by which ii is
in some measure surrounded.
Sugar was marked up to the highest
point Of the year. under a good demand
from friends of the property, who believe
in an immediate recovery of IT'S dividend.
Distillers was weak on sales inspired by the
legal uncertainties surrounding the proper
ty. The trading of the last hour was less
active than that Of its predecessors, and
some realizing was noticeable. All offerings
were quickly absorbed, however, and con-
fidence in higher prices prevailed.
An increased demand from commission
houses seems probable in which event the
natural tendencies of the movement will
be considerably emphasized.