Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-04-15
FINANCE AND TRADE
The Street Has Confidence in Better
Prices.
SURRENDER OF TIE PEGIlusS
vanderbitts and Grangers Attract
Most Attention.
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star.
NEW YORK, April 15.-The course Of
prices in today's stock market indicates the
surrender Of the pessimistic minority and
the general adoption of rather pronounced,
although not entirely well-founded, conf
dence in immediate prosperity. The cover
ing of short contracts and a moderate de-
mand from investors resulted in establish
ing a strong speculative undertone in all
departments.
Opening prices reflected advances varying
from IA to 81 per cent, and in almost
every instance equally substantial frac-
tions We're added during the forenoon. As
on Saturday, the Vanderbilt and Granger
groups attracted the bulk of the days bust
ness, more hopeful crop conditions in the
west having a tendency to revolutionize
sentiment in respect to the last-named
group.
The covering of outstanding short con-
tracts in Northwest and Rock Island result
ed in advancing the price Of those stocks
1 "a and 1 per cent, respectively.
Lake Shore was strong at Saturdays adj
vance, and New York Central gained per
cent on a relatively small volume Of bus
mess.
The coal stocks were strong on antici-
pated favorable developments In the coal
trade. along lines previously suggested.
Jersey Central being the feature on vol
ume of business sufficient to allow It's com
plete recovery Of its quarterly dividend
Gbu d SIIidh ITdcllOH duuluCbdl.
The meeting Of Baltimore and Ohio
finance committee. called for the purpose
of considering the question of dividends
on that property. was postponed until to-
morrow. Baltimore advices, which hereto
fore have been uniformly confident that
the usual disbursement Of per cent would
be. made. were decidedly altered In tone
and admitted not only the possibility. but
even the probability Of reduced rate
The excuse to be alleged in case the re-
duction Is decided upon is that the de-
nands of the Belt road have SO far OK
ceeded expectations as to make it unwise
to pay the full amount even though 1t has
been earned.
The directors will meet on Wednesday
and will act upon the result of tomorroW.s
meeting of the finance committee. Wall
street has SO fully Endorsed the conserva-
tive policy of other roads which have fol-
lowed the dictates of sound business prin-
ciples on the subject of dividends that the
directors of this company should abandon
all idea of considering the sentimental side
of the situation and deal simply with the
facts. as upon such action the future OF
the road largely depends.
The industrial list was active and shared
in the improvement elsewhere noted. The
reopening Of the sugar refneries, coupled
with brighter prospects IN trade condi-
lions, encouraged further buying OF sugar
and established a strong market for the
shares of that property. General Electric
was strong on purchases. generally attrtb-
uted to covering, and Chicago Gas for the
long account received most Of its quarter
ly dividend
American tobacco was especially strong,
selling up per cent to 90. after opening
at &c exdividend per cent
The market for foreign exchange was
firm but dull. the inquiry from remitters
being decidedly limited and the supply OF
bills small.