The sun. [volume] (New York [N.Y.]) 1833-1916, 1896-04-01
upon general trads at Chicago and Other promi.

upon general trade at Chicago and other promi-
nent Western centres.
Added 10 the tangible encouraging influences
noted. IL the increa sing belief that both Of the
great political parties will. In the approaching
Presidential campaign, appreciate the demand
from all business interests, irrespective OF party,
for a declaration recognizing the desirabllity Of
maintaining tho present standard OF value In
this country. Congress Is apparently beginning
to appreciate the virtual unanimity OF that de-
mand. for wild political harangues In favor OF
n debasement Of the currency are no longer
emitted from the national capital. to the detri-
ment and distress OF business generally. The
only fear the speculative community INDUCES
in, and 10 does not seem 10 be acute. Is that ex-
PORTS OF specie may be resumed In the near
future. In tho present condition OF the domestic
and European money markets. and in view OF
the comparatively small trade balance due
abroad. even including the gold borrowed on
account OF payments for the last Government
loan, large and continuous exports OF specie
cannot DO reasonably expected.
The situation is such that an advance In ster-
ling exchange to the gold shipping point is al
most certain TO lift the local money markets to
figures that would cause a reaction In the ex-
change market. A most important fact Is the
change in the attitude of foreign capitalists
toward the United States. Up to a few months
ago thev were apparently bent upon withdrawing
from this country every dollar they could. Now
the subsistence OF the agitation In favor OF the
larger use OF silver as money, together
with the higher rates Of money In this market,
tempt foreign bankers to seek employment for
Q part OF their balances In tho United States:
and as an early adjournment OF Congress would
seem TO insure the commercial and industrial
progress OF the country from interruption for
some months to come. 1t Is not improbable that
confidence abroad In American undertakings
may grow until 1t is distinctly reflected here.
The manipulation In American Tobacco re-
ceived n decided setback to-day through efforts
to impose upon the Street. Misleading state
ments regarding tho operations. or rather the
suspension of operations, of one OF the principal
competitors OF the American Tobocco Com
pany failed of their purpose. and bid fair
to involve those who were responsible for
them In a good deal of unpleaeantncsc. The
dealings in American Tobacco seemed to reflect
consciousness on the part OF those who under
took to circulate the misleading reports that
they had made a mistake. The RELOCATION of
that highly manipulated Industrial to second
place in point of activity had q beneficial effect
upon the remainder of the list. Larger total
transactions than yesterday were even better
distributed and the tendency of prices toward a
higher level was more pronounced. The stocks
that received the most attention and also made
the most decided progress upward were Sugar
Refining. United States Leather preferred.
Rock Island. General Electric, c.. Il. and Quincy.
and Louisville and Nashville. Less active stocks
that closed materially higher than yesterday
were Manhattan Railway. Wabash preferred.
southern Railway preferred. Missouri Pacific.
Metropolitan Traction. and Illinois steel. Tho
closing was strong at slight recessions from tho
best figures. |
Final sales compare with those of yesterday