Evening star., 1896-02-14
FINANCE AND TRADE
Efectof Complications in the African
Situation.
CONCESSIONS IN FOREIGN ADVICES
Money From Abroad Appears for
loaning.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, February 1i.-Yesterday'
triumph for sound money, as evidenced by
the vote in the House of Representatives.
was completely displaced rs an incentive
In the London market by new complications
in the African situation. Foreign cables
consequently. reflected conce e.sions in nearly
all OF the more active International issues,
and some sales for that account were exc
CITED during the first half hour.
Although the percentage of the decline
was greater than that of the advance to
which yesterdays local improvement was
attributed. the results were Identical. When
sentiment is dominant logic is frequently
disregarded, and only such incidents as are
desirable are utilized in determining values
After absorbing all of the stock offered for
sale during the early trading the room pro-
oeeded to buy at advancing prices with as
much confidence as 1T has exhibited at anv
time since the panic.
The setback to tariff legislation. while
wholly undesirable. is not regarded as
final. although confidence in relief from
this source is badly shaken. The actual
needs of the times may prove superior to
political issues eventually and suggest
prompt action.
One of the most significant developments
OF the day was the appearance of round
amount of foreign money in the local mar
ket at easy loantng rates Upward of half
a million pounds Is offered for sixty days.
with two renewal privileges. AS London
will supply these funds. drafts drawn on
that center will have an important infiu-
ence on the foreign exchange market, and
should force rates to recede still further
from the specie point.
With mt ney loar ing at satisfactory rates
and with railroad earnings fully up to the
seasons estimates, the present tendency of
prices Is not unnatural The public de-
mand has not been notfceably increased
ators regard this fact as worthy of more
satisfactory explanations than those thus
Tar offered. A partial reduction of values
throughout the list would probably develop
the real cause of this hesitancy and II is
equally probable that the extent of the
advance alone would be found responsible
The defeat of the silver substitute for the
bond bill, while entirely expected, inspired
confidence in the stability of the ma tional
finances and contributed to the volume of
the days buying.
The usual proft-taking incident to the
last full day of the week resulted in frac-
tonal concessions from the days best level,
but developed no indications of weakness
Missouri Pacific was again out of har-
mony with the general market, a decline of
one per cent following selling of the same
character noticed earlier in the week. As
Surances Of amicable inside relations are
abundant. but the stock yields easily to
sales apparently emanating from the source
of these assurances. Sugar sold up sharply
on the prospects of delay i'm the tariff dis
cussion and the revival OF rumors relative
to an extra dividend of 10 per cent on the
common stock. The ability to pay this
amount is not questioned, but, as usual
with this property. grave questions of
policy are involved.
The railroad list acted well throughout
the day. and while rejecting fractional de-
clines from the highest level. was conf
IDENTIFY purchased by commission houses and
traders.
Price Of Gold Drops.
NEW YORK, February 14-London ad-
| vices state that owing to the slackened in
| quiry for bar gold for export the price
has been reduced TO "a S. d.