New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-04

Washington no longer absorbs the interest ~
the financial community. Last week foreign ex-
changes attracted all attention. II il natural
enough that sterling rates should be high at this
time Of year" dangerously near the god-export-
ing point" The Belmont Morgan syndicate. how
ever had controlled the exchange branch II the
market by selling sixty-day sterling bills a
81 ST. Long pills owing to the rates ~ discount
in London. are the most advantageous now. ana
at 81 81. are equivalent to demand bills az 81 N'.
No gold can he exported unless demand is Al
81 50; and even with that rate prevailing export
ers would meet obstacles in Gisposine u this
metal in London az this time, owing To- the a'u-
tude of the evniica.e's foreign allies Uhe Roth
schildS). Their seems t. be NJ doubt That for
some months to come perhaps un;il prosperity -
again plainly visible in this country II" sNHdi-
cate Will control the rates for sterling exchanG"
They would be- materially assisted II the insiiiu-
ions which received amounts of the new A.
cheap would live up 10 their Ia il agreement ana
hold the same as an Investment thus locking up
a good deal Of money. That would help money
rates to rise. such an agreement III it really ex-
ist0 was violated frequently last week. ana il
seems likely that the syndicate must soon take
notice OF II. The money market therefore. y
likely TO be the centre of interest this week.
Bankers generally are more hopeful and positive
Of the improved conditions throughout The cum
try than brokers' Meanwhile the G5vcrnmenra
gold reserve is fas, approaching IN" No)oo'"'o
mark standing last nigh, at over sS7"N09''
Much talk Is heard now about the restoration
abroad of confidence IN The credit Of This country.
as shown by the readiness Of English invest r.
t. take the n-w a. at a hich figure, ana the
argument runs that this restored COniidenc' VIII
speedily lead i large purchase" On foreign ac-
count ~ our railway AMI Industrial securities
We hope that it may. Eut confidence N our Gov
eminent securities Is ole thing and coniidcnc" IN
American railways l. another. The Enghshmtn.
for instance. has not yet forgotten Atchison. nor
Union Pacific nor Northern Pacific nor Readinh,
nor a lot Of other bankrupt properties whose
wreckers still unpun.shed and still hold their
heads high The receivcrship for Norfolk and
Western recently served 70 refresh the foreign
ers memory, and they still seem to prefer To put
their money into holes in the ground in South
Africa rather than to buy cur railway and in
dustrial stocks and bonds
Movements in stocks especially investment
stocks. were Of considerable interest. The mark"t
was sensitive but narrow with a bearsh feeling
in control. This did not prevent occasional ad-
vances in price. owing 10 the disposition of the
bears 70 make their short contracts safe. The
level OF quotations was lower on Saturday than
week nrevjoug Mention should be made 81 the
decline OF New-York Central for no good reason
50 far az we can In this and other nierna-
tionaI specialties there was considerable hpuida
ton. in the belief that the next dividend VIII %"
reduced. II ia announced. from certain brokers
offices that some Of the Central stock certificates
delivered last week had not pnhole In them.
Canadian Pacific went down several points be
cause the expected dividend vas not declared.
AS this road IL controlled by foreign holders. Eng
Ush investors for once are not obliged 10 curse
Americans for Il wicked device. small declines
marked the Changers but they hold up well IN
view OF all conditions The same assertion may
he repeated emphatically OF the coz! properties
The fun significance Of the abridged annual re,
mort Of Central Of Jersey Is not yet reflected
in tho movements 81 that stock. Tn" anthracite"
eitu,,ion could hardly be worse. IrIeEulariiy was
the marked characteristic 81 the Industrial group
The only members Of II which seemed 10 respond
TO legitimate conditions were Dstilllng ana Cav
tie Feeding which advanced. and General Elec-
tIic which continued 10 decline.
The following table exhibits the movements OF
the most active stocks of the week