Evening star., 1896-01-21
Establishment Of a Healthy Specu-
lative Undertone.
ASSURANCE TO FOREIGN INTERESTS
Slight Fall in Rates of Ex-
change. I.
GENERAL MARKET REPORTS

special Dispatch to The Evening Star.
NEW YORK, January 21.-A return to
rational reasoning this morning resulted
In improved values and the establishment
Oh healthy speculative undertone No
important upward movement has been
agreed upon, but selling at this level is
uscouragd. Foreign interests have been
assured that International differences tend
strongly toward amicable settlement and
some disposition to buy is consequently
apparent.
Forelgn exchange rates were quoted
slightly under yesterdays level as the re-
suit OF less urgent demand and exporting
houses are confident that no prolonged out
ward movement Of coin is likely. Tomor-
rows shipments will aggregate about two
ana one-half millions and will practically
cancel the foreign Indebtedness of the con-
signors.
Money rates continue to disappoint the
believers in tight money, accommodations
equal to the demand. There is still some
apprehension on this score, however, and
there is ample time for an acute money
scare between now and the date of the gov
ernment's bond sale. The money market
warrants cautious application of borrow
ed FUNDS, but beyond this there Is little
cause for serious apprehension.
The stock market having recently passed
hiouGh u series OF ADVERSE events and
values having been readjusted to the
changed conditions can scarcely be regard
ed as particularly vulnerable even though
some delay Is encountered in securing rem
eolai legislation. The attitude of the Sem
ate Is far from reassuring, and surprises
are momentarily expected to emanate from
that body. If the deliberate and dignified
efforts to readjust our foreign relations are
rot vitiated by such surprises their nature
is of little moment
The country in general and the financial
world IN particular is fully advised Of the
political phases Of several recent attempts
real significance of the same. The chances
OF some silent disposition OF the Monroe
doctrine resolution are believed to be good
and serious-minded financiers are hopeful
OF steady improvement in the diplomatic
situation involved therein.
The plan of consolidating the several
Cnlcago gas companies Will be announced
toward the close of business today The re-
organization papers were filed at Spring
field during the day and the details of COM
mittee's purposes will shortly be given to
the public. The price of the stock was not
favorably influenced by these announce
ments, as realizing sales were inspired
thereby, as well as some sales for the short
account.
The Granger shares, particularly St Paul
were in moderate demand throughout the
day at improved prices. The movement of
corn along the lines of these roads is re-
ported to have begun in appreciable
amounts, and the predicted improvement
in earnings is relied upon. The action of
the market throughout the day was in
the main very satisfactory, but as the pro-
fessioral element is unassisted, except in a
few instances. the customary fractional
Setbacks are to be expected. The buying
at any material decline is decidedly better
than the selling and an upward movement
would be the logical outcome of broader
market There is no inducement, how
ever, to hasty action in anticipation of this
event.