Evening star., 1896-03-30
Improvement in Speculative Con-
ditiols Continues.
EFFECT OF TIE Big GOLD RESERVE
Report Of Burlingtons Earnings
Causes an Advance.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. March 30.-The improve
ment in speculative conditions noted at the
close Of last weeks business was again
apparent this morning, the narrowness Of
the market alone preventing more suLstan-
tial Improvement in values. London cables
reflected fractional concessions from our
closing level, and brought no significant
orders into the local market.
The strength Of foreign exchange rates
was urged In justification Of cautious trad
ing. but foreign banking houses continue
to regard the prospect OF gold exports with
unconcern. The twensy-egh: millions Of
goid IN excess OF the standard level of the
Federal gold reserve Inspires confidence in
the ability Of he treasury to supply coin
In settlement Of International commercial
ooHsations without causing apprehension in
financial circles. Some shading of in values
would probably follow the initial engage
n.ent or specie for export, but the low level
thereby created should not prove an un-
profitable purchasing point.
Burlington was again IN good demand at q
further advance of per cent, the showing
made In February earnings continuing to
invite purchases for both long and short ac-
count The hSures submitted by this COM
pany during the remainder Of the season
should have an equally good effect on the
price OF the stock. Rock Island was active,
In relative sense, the first few transactions
Gend, ard ST. Paul was well supported un-
der the influence Of a reported increase of
$l44,lOS In February net earnings
Outside of the Granger shares there were
Few important features In the railroad list
fractional Improvement in the roads now
IN various stages Of reorganization being
incidents of secondary Importance only,
AdVantage was taken Of the tardy ap-
Pearance OF supporting orders In American
Tobacco to force the price down to S5h, a
oecnne OF nearly per cent from the OPEN
ing level
Manipulative interests came into proroin-
ence at the decline and q sharp buying de-
mand almost Immediately forced the price
up 70 W. the highest point of the present
movement. Action on the dividend will
probably be taken On Wednesday. eyery-
tnihg pointing to at least a 2 per cent dis
bur6ement.
The pool in this property is credited with
having accumulated between seventy-fiye
and one hundred thousand shares of stock.
an OF which must sooner or later seek
market Prudence would suggest sales the
evening before this effort is irf4ugurated,
Ihe agreement entered into by the sew
eral iron companies in the birmingham
district whereby single sales agency in
this city will handle the product of that
locality was responsible for an improved
buying demand In Tennessee Coal and Iron.
Infs arrangement will dispense with a Sc
ries of unprofitable commissions heretofore
demanded by agents. The reafflrmng of
the decision annuhing the old Distilling and
Cattle feeding charter, as being in viola
ton or the antitrust law, removes all OBJ
stacleS in the way of immediate reorpani-
zallon and Will permit the prompt surren-
der of all assets now in the receivers
hands,
The trading of the last hour was dull.
but in the main steady.