Evening star., 1896-11-06
Advances Ranging From l to 8 Per
Cent.
LONDON PRICES WERE MOSTLY HIGHER
Effect Of the Reported Industrial
Revival.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK. November 8.-The Cuban
war prophecy and the credulity of traders
| In the matter of election claims, which fur.
nished the incentive to the lower prices
recorded at the close of yesterdays busi-
ness. gave way to more intelligent reason
ing this morning. Advances varying from
to per cent were reflected in openins
ngures as the result of general recogni-
tloH OF yesterdays error. The demand con-
tlnued throughout the morning and sub
stantial additions were made to the improy-
ed opening level. London prices were gen.
orally higher. and the volume of foreign
business. while not significant in volume
reflected a revival of confidence in Ameri-
can securities.
Gold boarded in anticipation of a prem
ium Is coming back into legitimate invest
ment channels. the commission paid for the
coin being sacrificed in every instance.
The releasing Of boarded funds will show
to some extent In tomorrow's weekly state
ment of bank averages. but the second
post-election statement will more accurate
ly reflect this movement.
The gold brought in by European steam
ers at the close of last week. amounting to
H,25O,0OO, will be shown In an increased
specie holding. The banks have lost up
ward Of $2.COO,OoO to interior points. about
half of which amount was transferred
through the subtreasury.
Routine subtreasLry operations will re-
suit In gain to the banks and should
make the statement as a whole quite sat
isfactory. Increased liberality in the mat
ter of discounts should be more signifi-
cantly reflected one week hence.
The revival of Industrial activity reported
from the several manufa curing districts
Is an important addition to the fund OF
cpt1raistfc argument now prevailing and
will Increase the demand for loans The
banks are likely to begin an immediate
fulhiiment Of ante-election predictions as to
the BENEFITS of a sound money victory.
The trading in railroad shares was well
distributed throughout the active list, Bur-
lington coming conspicuously forward as
a leader of its particular group. Reading
was given good support in q volume OF
business. indicating buying of a character
not usually discouraged by the necessity
of waiting fer profitable results. The en-
tire Est reflected desire to buy rather
than a willingness to sell In view of the
Inducements ahead.
The payment of dividend of IL per
cent on the Central Trust Company's Ger
tfioates of deposit, representing the Chi
caSo Gas Companies certificates, was Of
ficiaily announced this morning The GER
ufcates must be presented on or after
November y at the Office of the Central
Trust Company in order that the amount
OF the dividend may be stamped thereon.
The action of the stock indicated a grow
Ing confidence in the permanency of these
disbursements.
American Sugar was inactive. and to a
very notable extent, unsympathetic with
the movement in the general list. Legis-
lative attacks are considered probable in
consequence of the recent severe political
arraignmert Of corporations of this charac-
the. The wishes of the larger interests will
however continue to be superior to surface
conditions. The best prices of the day, in
many instances. were recorded during the
final hour of business. ... -.. =