Evening star., 1896-12-03
FINANCE AND TRADE
Speculative Circles Awaiting Advioes
From Washington.
EFFECroFTHE REfALIiYoRY MEASURE
Grangers Depressed by the Storms
in the West.
GENERAL MARKET REPORTS

Special Dispatch 10 The Evening Star. .t.s ,4..
NEW YORK, December 3.-The failure
to dislodge long stocks In any considerab BILE
quantities this morning discouraged the ag-
gressiveness of the pessimistic element and
resulted In a moderate recovery I'm values
after the first hour. London's early prices
were fractionally lower and the volume of
foreign business dwindled to insignificant
proportions. The room is short of the more
active issues and finds little announcement
in a market which advances as much on
purchases of one thousand shares as il de-
clines on sales of double that amount
Pending definite advices from Washing
ton no noteworthy changes in the prevail
ing speculative conditions are likely. The
street, or such part OF IL is not pre-
diced by commitments in the stock mar
ket. is almost unanimously of The opin on
that Congress will do nothing to retard a
business revival There NAV. however. he
oco asonal lapses in this policy of ccnser-
vatism and professional attacks values
| are to be expected during such periods.
The retaliatory proclamation against Ger
many was variously construed specu-
lative factor, fears OF strained commercial
relations with that country being partially
offset by the routine character of the ac-
tion.
The market hesitated noticeably at the
| time of the announcement and may reflect
the real significance OF the document later
on. Ii is not likely. however. that the
will result in any serious diplomatic
troversy.
Railroad earnings reported during the
| day were. in the main, unfavorabie. ST.
| Pauls report for the fourth week In No
| vember reflects decrease of si5l 5i4, MAX
| ing the total decrease for the month
s61S,l07. The steady decreases since July
| ! for the system bring the total decreas,.
| to date up to 81 135,GD0. Rock Island re-
ports decrease of sl3s. 13s for the month
! of November, but shows a gain of sl0s.5Se
since January 1. ....-
The storing I'm the west. coupled with
these reports, invited renewed selling OF the
| Granger shares. but the movement was
| limited to fractional declines only.
Manhattan was active under an improS ed
| demand for both accounts. The clique
| identified with previous rallies in this prop
erty were again active in lis support to-
| uGy. The much-talkcd-of improvement in
traffic service and equipment can only he
| accomplished 10y liberal expenditures OF
| money, and the source from which tia
| sum necessary is to come is not disclosed
| 10y any of the company's recent balance
| sheets.
| The definite announcement of the build
| ing OF a large independent sugar refinery
had depressing influence in the stock of
| the American Company. At the decline
| however, good demand was encountered
\ ana sharp recovery ensued. Whatever
| market action develops as the result of the
Eerrlan incident mentioned above, this
! property is likely to be most literally in
| fuenced. Advices from the west announced
the probability Of the adoption Of a profit
able agreement looking 10 more lar
onious action among the independent dis
| tllers and the new Spirits Company The
| stock of the latter company WAS bought on
the announcement by the brokers Tor TIE
pool.
Money loaned freely at IL. and per cent.
and foreign exchange worked somewhat
frmer under better demand.