Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-01-17
Values Fell Fractionally From Yes
terday's Level.
LONDON'S PRICES WERE ALL LOWER
Influence of the Bond Issue on
Loans by the Banks.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
/ NEW YORK, January 17.-Under cover
Of extreme dullness values receded frac-
tfonally from yesterdays level and were
barely steady at the decline. London's
prices were uniformly lower, and no i'm
portant foreign business is reported. FIRE.
quent intervals of total inaction demon
strated the narrowness of the present
stock market and emphasized the total alb
sence of incentive.
In many instances current prices under
estimate merit, but in the present sensitive
condition of the money market immediate
improvement is not likely.
1t is impossible to determine the probable
number of individuals who will apply for
the new government bonds, and bankers
are consequently in doubt as to how much
available money should be on hand on the
date of the sale. AS is usual, the DOUBT
is met by a refusal to extend loans beyond
the limit of actual necessity and a careful
outstanding of funds. Money rates. how
ever, yet do not reflect any embarrass-
ment to the borrower, but this condition is
largely due to the fact that the borrower
has become as cautious as the lender.
Money will be released, however, after the
government terms have been complied with,
and If an active demand should arise, as it
certainly will. if the new bonds are as popu-
| lar as they were meant to be, there is
abundant evidence Of the likelihood of its
being promptly supplied.
The time between now and the fifth day
Of February is the doubtful period, and
stocks are not likely to be bought i'll large
| quantities by those using borrowed funds
| in settlement of the transaction
The engagement of one million gold for
export was announced during the day.
Several houses which had intended to ship
| by tomorrow.s steamers postponed the
operation until next week, when a liberal
| outflow may be expected. The foreign eX-
| change market advanced slightly during
| the day under small volume of business.
| The anthracite coal interests will meet or
Thursday next to consider the conditions of
| the trade and to take such action as may be
| deemed advisable for the improvement of
| the same. In the present stagnant condi
| likely to be influenced by the results of this
| meeting beyond fractional limits.
The short interest in Manhattan was re-
| sponsible for early gain of 1 per cent
| in the price Of that stock, but renewed sell
| ing at the advance resulted in the loss of
| the entire gain.
1 Realizing on tie granger shares detracta ted
| sc mewhat from the prices of those securi-
ties, but sentiment is still partial to this
| group when ultimate results are considered
The industrial list was almost as dull
| as the remainder of the market, and pre-
| scented no new features. Several forces
| political, diplomatic and legal, are expect
| ed to be employed as incentives to active
speculation in this department in the near
| future. Sugar, for instance, is liable to
| have all these forces concentrated for or
| against it's value.
The last hour was dull and productive of
| no new developments.
The market, while not likely to be ma
| terially depressed offers few inducements
| to the operator at present committed on
| neither side.