Evening star., 1896-09-17
Stock Values Favorably Influenced
by Advices From Abroad.
THE CONSFkNFINOPLE SCAREVANlSHES
Dealing Centered Largely in Amer-
can Sugar.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. September 17.-Stock val
Ies were favoraoly influenced this morning
by the continuation Of the discount rate
established last week by the Bank of Eng
land. The foreign market responded
promptly to the significance of this action
and a revival Of confidence in American
securities was reported by special cables
throughout the entire session The volume
OF local business was extremely small. the
covering OF yesterdays sales being re-
spcnsible for a majority of the days
changes in value. No new outside demand
was reported, tie uncertainty incident to
an important presidential contest and de-
creased earnings combining 10 prevent lib
eral purchases.
The board-room fears of serious troubles
at Constantinople were entirely abandoned.
and the short contracts incident thereto are
believed TO have been fully covered.
Ihe trading again centered largely in
American Sugar. the manipulation being
In the interest OF higher prices. THIS prop
erty Is apparently destined TO become a
feature of the next fortnight's operations
owing tc the impossibility of arousiny any
enthusiasm In the general list Routine in
huences are rarely relied upon to stimulate
activity in this speciality, owing to the
skiiiiul character of the experienced man.
ipuiatlon which attends every important
movement
A deliberate effort to advance the price of
Manhattan was literally assisted nv the
Tree covering Of short contracts suh-
stantial advance from initial prices was
recorded on relatively large volume of
uadlng Dy brokers active in every recent
movement in the property
st. Paurs weekly report OF arnipps for
the second week this month, showing a de-
crease OF sl12,51o, was not sufficiently sur
frisinS TO present moderate gain IN the
price OF the stock. The increase In earnings
since July 1 Is reduced by the decrease 10
A237s
While the days net results were fraction
ally favorable to prices, the UNDERLYING
features Of the situation remain unchanged
Profession al traders buy and sell according
TO the varying whims of the larger opera
tors In this class. and no investment de.
nand OF any Importance comes TO the re-
lief of the market.
There is no liquidation worthy Of con-
sideration apparent, and the tendency is
Enthusiastically toward increasing optimism
The Improvement in sentiment has as vet
failed to release boarded funds and capi-
tai continues cautious to the point of idle
ness.
The market may be subject to frequent
changes in direction but such movements
are likely TO attract little attention ou:-
side of the room The belief that an cleo
ton rally will be inaugurated toward the
middle of next month encourages a dispo-
sition to wait for the inevitable low level
created in anticipation of such an event.
The money and foreign exchange market
present no new features. Gold will con-
tinue to be imported to this side, principally
| from the continent, and money rates are
expected TO yield moderately as the receipts
| increase. The encouraging trade balances
| offer further evidence as to the genuineness
| of the inflow.