Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-04-09
FINANCE AND TRADE
A Marked Tendency Toward Dull.
ness in Speculation.
TONE OF LONDON CABLES IMPROVED
The Street Inclined to Look for
Better Prices.
GENERAL MARKET REPORTS
spec,al Dispatch to The Evening Star

Special Dispatch to The Evening Star.
NEW YORK. April 9.-There was a
market tendency toward duliness and ir-
regularity at the opening of today's stock
market, but initial figures, in the main.
compared favorably with last nights clos
ing prices. The tone Of the foreign market
was slightly improved, early London cables
rejecting advances varying from Is to 3-S
per cent. The speculative atmosphere has
been considerably cleared by yesterdays
developments and optimistic Senumentahty
is again likely to prevail in the interest OF
improved values. Improvement is destined
to be restricted to certain specialties, how
ever, uniformity in this respect being prac-
tically out Of the question. The western
railroads, for example, are Offering abso-
lutely no encouragement to the believers IN
higher prices, the monotonous array OK
decreased earnings attest
The publicat ton of the Burlington report
showing a continuation Of the retrograde
novement. was responsible for a decline OF
1 IA per cent In the price of that stock,
and a sympathetic decline in the granger
fcup generally.
Northwest has been unable to report any
very favorable returns and the short in
terest in the property Is particularly Stub
born in maintaining the correctness OF Its
position.
The usual rumors relative to Baltimore
and Ohio's dividend were in circulation, the
best opinion being that q reduced or passed
dividend must result II sound financial
| methods are given the preference. There
will be strong effort to disburse the usual
per cent, but it is by no means certain
that the attempt will be accorded the
nee SSary approval.
The coal stocks opened strong, but yield
| ed on later trading for substantial frac-
| tons, as the result of some hesitation as to
the course most favored by actual con-
ditions. Manhattan was sold down by
traders for a loss of IA per cent, all Of
which was recovered in an attempt to
ht,xy l,c., II fbaS in, fha nov
Michigan Central was advanced 3 per
| cent on a volume of business singulsrly
| inconsistent with the extent of the ad-
vance. The market, while dull and profess
| sional, demonst rates the difficulty expert
enced in recovering short stock and gives
| evidence of working higher at every point
of merit
| In the industrial list Sugar was the feat
ure on good buying, which advanced the
price 1 per cent and gave evidence that
| something more than mere traders rally
at the expense of the shorts was in pro-
| gress. An advance in the price of certain
grades of refined sugar added impetus to
the advance. The trading thus far has
come principally from veteran operator
4 in the stock who has not been assisted by
| the so-called inside faction.
| Many of the arguments generally used In
| depressing the stock are wanting in the
present situation. and 1t is believed that a
| strong bulish sentiment in regard to the
| property and its prospects is in process OF
| development
Chicago Gas was barely steady owing to
| a probable reduction Of the dividend to a
5 per cent basis. A 1 per cent dividend
will probably be declared for the current
| quarter, which will make the disburse-
ment for the half year 212 per cent, and
subsequent disbursements will be continued
| at this rate.
The lower priced industrials were steady
under moderate purchases for both ac-
| counts. The trading of the last hour lost
| none OF the irregular characteristics of its
predecessors, but was generally steady.
Many OF the early declines were recovered.
| while elsewhere realizing sales resulted in
| fractional concessions