Evening star., 1895-05-27
FINANCE AND TRADE
Resumption Of Foreign Buying Of
American Stocks.
SENTIMENT Is FOR HIGHER PRICES
Railway Earnings Show Steady and
Substantial improvement.
GENERAL MARKET REPORTS
,ecial Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, May 27.-The resumption OF
foreign buying this morning resulted in
establishing a strong speculative under
tone but failed to attract an increased
volume of business. Sentiment was gener-
ally favorable to higher prices in the regu-
lar list, but was somewhat divided as to
the industr;als.
The predictions of further damage to the
crops in the west which were responsible
for the lower closing on Saturday. not be-
ing sustained by advices from that section
this morning, prompted some covering Of
short sales All offerings of stocks were
quickly absorbed and there was no pres
sure to sell any considerable amounts.
Railroad earnings, now coming in. show
steady and substantial improvement. In
dustrial activity is reported from nearly
all manufacturing districts. especially those
interested in iron, and higher prices for
manufactured articles are predicted. The
one uncertain feature of the situation Is
found in the condition of the growing
crops, On which so much is now dependent
A large crop and a successful harvest
ing of the same are necessary to the hnan-
cial rehabilitation of the western roads,
and Notwithstanding the contingencies
which may arise to thwart this result, the
street is willing to proceed upon the pre-
sumption that the outcome will be satis-
factory
The Granger shares were in good de-
mand throughout the day, Burlington and
Northwest gaining 1 per cent from first
prices. while fractional advances We're re-
corded in the lower priced members of this
group.
Pacific Mail again attracted some buying,
which advanced the price IA per cent.
the motive being attributed to a better
prospect for increased earnings.
In the industrial list American Tobacco
was the feature at an advance Of 2b per
cent to III. The buying was accompanied
with rumors of an extra dividend. as on
previous occasions Sugar sold up frac-
tionally at the opening, but subsequently
declined 1 per cent under selling by trad
efs.
The larger interests were credited with q
desire to have the price depressed slightly
in order to accumulate stock in anticipa-
tion of an advance to precede the closing OF
the company's books for the next dividend.
Distillers was marked up per cent on the
covering of short sales, continued selling
of long stock on the advance restricting the
extent of the advance.
General Electric advanced under cover
ing inspired by an intimation that the Nc
Keesport decision, when rendered, will bs
favorable to this company. The opposite
opinion has heretofore prevailed, and has
been responsible for the creation of a large
short interest, the covering Of which, should
today's report be well founded, would
cause q sharp advance over present prices.
The trading of the final hour was ir-
regular under traders operations. Small
gains were recorded in a majority of the
active issues, but the narrow volume of
business prevented any important changes
either way. Indications continue favorable
to higher prices on the next revival of
active and evenly distributed trading.