Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-05-11
FINANCE AND TRADE
Fears of Trouble With Spain De-
press Values.
MODERATE SELLING BY LONDON
Political Outlook to Be More Prom.
inent in Speculation.
GENERAL MARKET REPORTS
special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, May 11.-Valucs were unfa-
vorably influenced this morning by fears
of complications with Spain growing out
of the findings of the court-martial in the
case of the recently captured crew Of the
Competitor London sold moderately on
this account, and inspired a similar move
ment on, the part OF the local room ele-
ment.
Concessions ranging from u to per cent
resulted from the first hours trading, but
were regained on the announcement that
the matters in dispute would be diverted
into diplomatic channels, thus eliminating
all fears of hasty action on the part Of
the Spanish autho rites
The political outlook is not being urged
as factor. as was the case last week. but
is not likely to remain long in the back
ground. The money plank OF the new plat
form Will be awaited with more than usual
interest in financial circles and will find
immediate reflection in values Belief in a
strong Endorsement of sound money once
the nomination is secure is doing much TO
overcome the silver attitude adopted for
the benefit of western delegates
The engagement of over two millions gold
for export by tomorrow's steamers and the
probable continuation of the outflow dur
ing the week prevented any important
dertakings in the long account.
Foreign houses predicted a decrease in
shipments by comparison with the move
ment of the last ten days, but the later
demand for coin makes the fufillment OF
this prophecy doubtful. The trailing ele-
nent is alone affected by gold shipments at
this season of the year. The movement is
too well recognized an incident of tho
season to force liquidation by investors.
Rumors Of an agreement to adjourn Con-
gress on the 9TH of June were favorably
received, the Industrial list in particular
Icing responsive to this desirable intelIt-
eence. The volume Of business is unim-
proved, and there is little indication of any
immediate extension of the demand.
The period between now and the middle
of June Is likely to be marked by a series
OF professional movements based on rumo.s
relative to the many important matters
now on the verge of settlement. While TIE
final result seems to be assured, the mar
rowness Of the present market makes it
possible TO force fractional profits from
both accounts.
The railroad list, particularly the Granger
shares. attracts moderate buying on conces-
3ions. but. unfortunately for the stability of
prices, such purchases are mainly Speru-
lative. The Industrial list holds rem rlably
well, considering the character OF the gem
,ral market, and there is apparently no
abate ment Of confidence in a resumption OF
the upward movement in the rear future
There is very little in the present situa-
ton TO invite participation on the part OF
the general public, and until this condition
is changed nothing important is likely to
develop. The demand for money for bust
mess purposes is encouraging, ana prom ses
to extend to speculation later on. Commts-
sion houses believe the actual adjogrn-
ment of Congress to be necessary CoEdi-
ton precedent to return of public interest
in speculation. Narrowncss is therefore,
likely to prevail during the balance Of the
MONTH and fractional changes will in all
probability mark the extent OF the daily
fluctuations. During this time the long ao-
count seems likely to be least favored.