Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-05-04
FINANCE AND TRADE
Reports Of Railway Earnings
Generally Encouraging.
DECLINE IN THE COAL STOCKS
Confident Buying Of Southern
Railway.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, May 4-Speculation this
morning centered largely in the industrial
issues, the absence of support during yes
terdays raid being fully compensated for
by liberal purchases and general advance
in values. The railway list was dull and at
times wholly neglected. The various re-
ports of earnings announced during the
day were, in the main, encouraging. and
prices we're fractionally improved, notwith-
standing the restricted volume of business.
The coal stocks sold down on traders
operations, Jersey Central losing 1 per cent
and Reading small fraction, part of
which was recovered before the closing.
The securities of the Southern railway
were conspicuously strong, the buying of
the preferred stock being especially conf
dent and credited to well-informed inter-
ests. successful effort is being made to
enlist foreign capital in this enterprise. and.
incidentally, considerable local enthusiasm
has been aroused, which will eventually be
more fully reflected in the market value of
the several securities now most prominent.
The western crop situation from now on
Will be watched with more than ordinary
interest by holders of railroad securities, as
agricultural prosperity is a recognized con-
dition precedent to increased earnings.
The recent action of the stock market
the naturalization OF such prosperity and
a willingness to discount it by conservative
buying on all concessions.
Chicago Gas was the feature of the days
trading, advancing steadily in early pur-
chases by the brokers usually identified
with any important movement in the prop
erty. The price was advanced to "a rs. but
yielded slightly from these figures, and
finally, during the last hour, broke sharply
to ~ 3-S on the reported vetoing of the bill
recently passed by the Illinois legislature.
This measure, popularity known as the
frontage bill" sought to make the consent
of 81 per cent of the property owners
necessary to the laying of gas, mains and
would have prevented the incorporation of
rival companies with no tangible assets
save the charter acquired by the act OF
such Incorporation The report lacked con-
firmation. and sharp recovery of l per
cent followed right at the close of business.
bill legalizing the consolidation of all
the gas companies is still pending, and
hopes are entertained that this industry
may yet be rescued from political influence
perverted for private gain.
A further advance in certain grades of
refined sugars and the announcement that
the refineries are so far oversold that Or
ders by this mornings mail were declined
because of the impossibility of their early
execution, caused some new buying of
Sugar and a revival of optimistic prophecy.
but was in good demand at the decline and
gained 2 per cent over first prices. The
bank statement reflects gain of four and
ore-half millions in cash and a CORE
spending increase in loans.
The deposits are larger by one and one
half millions than Is warranted by the
changes in other items. The surplus re-
serve is now trifle over S27,O00,0O0. The
statement in detail reports: Reserve, in
creased 81 &c., 800; loans, increased 81, 407,.
500; specie, increased s152, 1870; legals, in
creased S3,O3S 600; deposits, increased $10,-
39I, GOO, and circulation, decreased $1,000.