Evening star., 1896-12-21
Net Result of Fluctuations Favor
able to Values.
GREAT ACTIVITY m MANHATTAN
Good Effect of the Advlces From
Washington.
GENERAL MARKET REPORTS
sI~rial Dispatch To The Eycniu. Star.

Si"''-ial Dispatch - The Evening Star
NEW YORK. December 2i.-The banking
difficulties in Chicago ara the liquidation OF
security holdings at that center were re-
hected in a h-sitatinx and slightly lower
stock market this morn .us All offerings
found a ready market a block Of 81 90 ~,
government bonds be,rs taken within a
small fraction OF the bid price. and less de-
sirabic securities within a relatively sa,is-
factory limit
The prompt aanorncc.-c.,t OF IN, action
of the clearing house in advancing 49, per
cent of the amount owe TO creditors Of tn.
Chicago institution had ! rcassaring effect
on local values and prevented additional
selling for western account
The news frpm Wash .neton relative 20
the progress of tine Cuban resolution Was
more encouraging to values inasmuch as
the chances for the sue >ess of the resolu-
tton were more discouragine.
The street is disposed 10 believe In the
triUnph of conservatism In this. as In all
similar emergencies lr the country's his
tory.
The proposed action Is criticised in anan-
ciai circles. largely because OF the inop-
perfume time selected for a demonstration
against a foreign country. and not because
of the merits demei its of this coua-
trys attitude. The Teriod OF tina ncial
depression through which the country has
just passed is an unusually strong argu-
nent. il is urged for legislation Of a re-
medal nature applcabi4 nearer home
Warlike demonstrations. g. is claimed would
he more imposing IL the federal finances
would support the experiment.
the market rallied SHARPLY st the close of
the noon hour on buy'ue not whelly for
the short account TIE Stigine OF commits
sion buying was imprs, - moderately on
the prospect of q tao weeks immunity from
l. egislatfVe scares. The ad' ance during this
active period varied from - TO IL. per cent,
and was we'll distributed throughout the
entire list.
American Sugar was noticeabl, lacking
in the buoyancy of its Heignbors. Manip-
riation was largely sponsible for The
movement I'm this property. the large in
terests showing marked preference for
low-r prices.
In the railroad list Manhattan WAS the
feature in ss-ies OF unusually ezra tic
operations. The stock vas almost vio,ar
ly depressed from ~ 20 SsI& during the
opening hour. and on s.idien reversal Of
the process forced mp 10 .o on a rela-
lively small volume OF business
Whatever may be the ultimate result II
trading in this property. the present cam
paign issstrangcly suspicious and suggests
possible liquidatip ion Of Ia: sc holdings
The Granger shares Were Ia good demand
for both accounts. a la-ge decrease iu
Northwest's earnings being entirely passed
over as an adverse infiuen ..
The undcrtone of The gerpraI market in
dicates a revival of the optirnistir Tea'iug
Prevailing prior to the Senate comm ttt,.a's
report on The Cuban question. In the ah-
soEce of surprises. the holiday period IL
consequently likely to be mad" the most
Of by believers in the long account
Some realizing early purchases caus..l
fractional decline from the best prices -
the day hut the net result Was I'm rh..
main favcra hle 10 values