Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-03-30
London Comes Into the Street as q
Buyer.
CONFIDENCE N BETTER PRICES mC0IH
Progress Of Reorganization Opera
.+.;eI, II BIZ
- tions: g.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, March 3O.-For the first
time in many weeks London come into our
market at the close of the week as q
buyer of the more prominent International
securittes- This fact, coupled with q grow
Ing belief in the final success of the weeks
negotiations In the coal trade, resulted in
strong speculative undertone. The char
acter OF the business was such as to en-
courage confidence in further improvement
curing the coming week.
The reactionfsts continue to put out
moderate lines on the short side of the
market. but thus far there Is nothing in
ton Of their example. AS has been pre-
viously pointed out, bullish sentiment rath-
er than bullish conditions, except SO far
as sentiment makes conditions. is respon-
sible for the advancing tendency OF the
stock market. The street favors the long
side. and the public are disposed to lend
moderate assistance to the movement as
the frequent purchases of fractional lots
attest.
The activity in the various properties in
process OF reorganization has been fea-
ture Of the weeks operations. and almost
without exception the market position OF
such properties has been strengthened
thereby.
Atchison and New England have been
particularly conspicuous In this particular.
both closing the week at the highest point
of the advance.
The coal stocks have attracted the bulk
of the business and have been the recog-
nized leaders of speculation. The buying
of Reading. while undoubtedly speculative.
has been on q liberal scale, and a strong
effort will be made to further advance
the price.
Jersey Central was bought and bid up
by brokers prominent in recent movements
for a gain of Ia per cent. The higher
priced stocks were steady, but attracted
little attention.
The Grangers added small fractions to
early figures, but were in a measure ne
elected for the more active specialties in
other parts Of the list.
Sugar was strong and in good demand
up to 1O3 3-S, a gain of 2 per cent over
opening figures, and Chicago Gas gained 1
per cent on the purchase of a few hundred
shares.
Realizing sales In General Electric and
Distillers resulted in reduction Of " per
cent in each.
The foreign exchange market has ruled
mand fully up to the highest point of the
year. The complete control of this market
by the bond syndicate was the only pre-
ventive Of liberal gold shipments.
The better rates for call money and the
foreign buying Of our securities are i'm
portant factors, working In the interest of
lower exchange rates in the near future.
Bankers with foreign credits are dis
posed to draw against them and put the
money out in the local loan market at the
profitable rates Of interest now prevail
ing.
The weekly bank statement reflects a
loss Of nearly two millions to the banks.
all in legal tenders. The decrease in this
item, coupled with q similar decrease in
loans. explains the loss in deposits and
practically offsets it. The decrease in sur
plus is unimportant, but the decreasing ten
dency is still encouragingly marked.
The statement in detail follows: Reserve
decreased, $733, ESQ; loans decreased, ST.
I2s, 500; specie increased. s45s 800. Legals
decreased, s.. 1896. 800; deposits decreased.
81, So, 0OO and circulation increased, s522.-
300.