Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-05-16
FINANCE AND TRADE
Speculative Sentiment Changes for
the Better.
RECOVERY OF ALL LATE DECLINES
First Reports of Damage by West,
ern Storms Exaggerated.
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star
NEW YORK, May 16.-Speculative senti-
ment changed for the better this morning,
as is attested by a general recovery of all
declines noted yesterday. The operative
force behind today's movements was the
reported sale of New Y ork Centrars treas
ury stock in London around 1O5, or 8 points
in advance of last nights closing ibid in
the local market The total amount OF
stock SO sold was Al. 900 shares, and clearly
indicates the recent assurances that the
foreign market is so far removed from
artificiality to absorb an unusual guam
uty of stock without depressing values.
Following the announcement Of this sale
the stock became suddenly active among
local traders, gaining IA from very
strong opening. The disposition of this
particular block Of stock has long been
street, but the terms of today's traasac-
tons are decidedly more favorable than
We're generally supposed probable.
The exaggerated reports of the effects of
the recent storms in the west having Civ IN
way to more creditable details, the street
has again returned to its original belief in
an incoming era Of agricultural prosperity.
Inc buying of the granger stocks, resulting
In gains averaging about one per cent, in
dicates to what extent confidence has been
restored in this particular.
as the result Of operations representing
both accounts. Brokers identified with re-
cent sales in Reading and Jersey Central
were conspicuous purchasers of these
shares today and were responsible for ad-
vanceS of IA and 11a per cent respectively.
The selling Of Manhattan which followed
the publication of the last quarterly report
gave way to a covering movement this
| morning, which restored 1 per cent of yes
terdayS loss
While the gains were most conspicuous in
the several stocks. named fractional i'm
| provement was recorded in all parts of the
regular list, and the belief obtained that
the much-talked-of reaction had again been
successfully averted.
The conservative operator, however. will
not materially increase his holdings for the
present. as every rally from now on will
likely attract realizing sales of long stock.
| In the Industrial list improvement was
also noted, Sugar. as usual, being in good
demand up to III. Trade conditions for
this community continue good. and the
company is said to be earning handsome
profits at present prices.
| TEe failure OF the small-fruit crop in
| some sections of the country. 1T was fear
| ed, would curtail the demand for the re-
| fined product but thus far no significant
| falling off has been reported.
Chicago Gas was advanced per cent on
efforts to recover stock sold earlier in the
| week.
Distillers gained 1 per cent on a good
volume of business. but was barely steady
at the advance.
The directors of National Lead declared
the regular quarterly dividend of 1 "a per
| cent on the preferred stock of that COM
pany, payable to stockholders Of record
May "a. No action was taken relative to
| a dividend on the common stock.
| The last hours trading was only moder-
| ately active, but prices, as rule, reflected
| fractional net gains.