Evening star., 1896-01-22
Revival Of Confidence in Foreign
Money Osnters.
WALL STREET AND TEE War OUTLOOK
Watching the Progress Of Events
at the Capitol.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, January 22-The revival Of
confidence In foreign money centers as re-
flected in London's prices this morning re-
suited in a strong opening level on this
side. Advances varying from IA to l IA
per cent were recorded in all of the usually
active issues. The volume OF business was
not large, but its character was distinctly
improved.
International disputes have been divested
Of q majority Of their more serious feat
ures and by processes entirely consistent
with nineteenth century civilization. 1t
seems probable that our foreign relations
will have resumed a perfectly satisfactory
aspect within a few weeks at most In
view Of the prospect attention naturally re-
verts to the financial condition of our own
country and to the half-completed efforts
to remedy existing evils.
The emergency revenue bill, now tied up
in the Senate committee is generally re-
garded rs the most important OF recent
measures looking to more than temporary
financial relief.
Should this bill pass the Senate, and the
best opinion is that 1t will eventually, the
benefit to federal finances would be imme-
diately reflected in improved values in all
departments Of finance. There is some diff
ference Of opinion as to the bills chances Of
becoming law, even should the Senate
permit 1t to pass, but on this point neither
side can claim an advantage. Even should
it fail after being sanctioned by both houses
of Congress its effect would not be entirely
lost
The bond transaction will be a success
from all appearances and should in conse-
quence inspire some activity in speculation.
A successful bond issue and a revenue bill
together would disarm all opposition TO
improvement.
The sterling exchange market declined II
per cent during the morning and attracted
DO new business at the decline.
The demand from remitters is small, and
European demands for gold are not likely
to cause any apprehension for the present.
The money market, judged by the rates
for call money, reflects no symptoms of an
Immediately alarming character. The three
per cent rate now prevailing is largely the
result of a contracted volume of business
| and could not be relied upon should the de-
mand increase. With the exercise OF eau
tion to the extent demanded by the uncer-
| tainty of the next two weeks the objec-
tionable features of the bond contract may
| be successfully passed over.
The reports Of earnings now coming In
are very satisfactory, in some instances
| unusually so, and should shortly attract
! the attention of investors and spectators
| alike. Northwest's report for the month
| of December, made public today, reflects
| a gain Of 1861, $40 in gross earnings, or a
| total gain from June l, 1895, of $3.394,S25.
| ST. Paul is another property which week
| ly reflects a satisfactory earning capacity,
| and Is consequently general favorite with
conservative operators. The entire granger
group will participate in any movement
| looking to improved values.
| The meeting of the anthracite coal in
| terests tomorrow will in all probability fur
| nish basis for some activity in the coal
! shares. Radical measures are essential to
| the establishment of satisfactory trade con-
| ditions and it is currently believed imme-
diate attention will be given to the objec-
| tionable features Of the situation.
The industrial stocks were moderately
| active during the day, but were not in har-
| mony as to direction. Tobacco lacks sup
| port and feels the effect of lumors of ar
| attempt in the New Jersey legislature look.
ing to the forfeiting of its charter. Sugar
| is threatened with similar legislation, but
| as usual is accorded the support necessary
| to counterac; adverse reports.
| The last hours trading was dull, but in
| day.