Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-04-18
Sentiment Points to q Higher Level
Of Values.
PROGRESS OF DISCRIMINATION PLANS
Bank Statement Shows a Large
Increase in Loans.
GENERAL MARKET REPORTS


Special Dispatch 10 The Evening Star
NEW YORK, April 1S.-The concessions
recorded in yesterdays stock market were
In macy instances fully recovered this
morning on small volume of business.
Sentiment at the close OF the week is
strongly optimistic, and Indications point
to higher level of values during the COM
irg week. traders not yet having recovered
yesterdays sales.
The rapid progress being made with the
several organization schemes is having a
coed effect on both the local and foreign
markets, and an increased demand for the
securities involved in these schemes is to
be noted among the weeks favorable de-
velopmnts. Activity in the bond market
is an important factor, the demand from
abroad being especially marked
The accumulation OF idle funds in London
and the high rate for all interest-bearng
securities at that center seem likely to re-
suit in an outward movement of securities,
rather than gold, from this side. The mar
ket Tor foreign exchange has been duh dur
ing the week, the special shipment of
$1Uo.OO0 reported on Tuesday being the only
important transaction.
Rates at the close of the week are at the
lowest point recorded since the shipment
and no urgent demand is reported a much
easier market for commercial paper and a
freer movement Of merchandise are in
NuenceS OF more than ordinary SlEnl1Cance
and should find almost immediate reflection
in stock values.
Railroad earnings have been. in the main.
encouraging, and increased traffic incident
to the new season is relied upon to pro-
long the period of improvement in these
items.
The bank statement reflects another small
gain in lawful money, principally in legal
tenders An increase OF more than S1pD0D
in loans is encouraging feature of the
weekly statement Money rates continue
easy and should eN entually attract a better
borrowing demand for speculative pur-
poses.
Higher LONDON quotations may serve to
stimulate buying in the near future, but
should expectations in this particular prove
disappointing it is likely that local inter-
ests will organize for the purpose of sus-
tanning values. In the industrial list there
have been frequent evidences Of supporting
orders from ! to 2 per cent under the
weeks highest level Sugar for instance.
has twice failed to sell under 123 on liberal
realizing movements.
The market is gradually emerging from
the control Of the room element, the in
creased volume of commission buying DE-
ing noted on several occasions during the
week. Fractional declines may be record
ed from time to time on profit-taking. but
there is apparently little disposition to
trade extensiy ely on the short side of the
market
present situation are mainly dependent on
future contingencies for effective develop
ment. there are almost no tangible reasons
on which to base pessimistic arguments.
The adjournment of the New York stats
legislature on April 30, and the final adjourn
ment of the federal Congress, perhaps a
fortnight later, will make up for any de-
ficiencies in statistics. A tendency toward
a higher and broader market seems to he
the natural deduction from the present out
look