Evening star., 1896-03-16
Stocks Seem to Feel a Thrill of
Life.
TGIDTY ON LCCOUHf OF CUBA
The Presidential Year May Dis
courage Trade.
NEWS OF THE STREET
pecial Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, March 16-The publication
Of the Northern Pacific plan of reorganiza-
tion attracted considerable attention i'm
speculative circles this morning, but had
less effect on the general market than had
been expected The committees plan bears
evidence of careful preparation and should
Trove entirely satisfactory in it's results.
Acting on the presumption that prices
would be advaioed simultaneously with
| this announcement traders bought and bid
up all the more active issues of both the
industrial and railway lists.
The advance failed to attract any legiti-
mate buying, however, and lower prices re-
suited from an abandonment of the long
side of the market London's early prices
were fractionally under our closing level.
and the volume OF foreign business was
again insignificant The professional mar
rowness, so pronounced in last weeks bus
mess. seems likely to continue indefinitely.
an entirely new incentive being necessary
TO bring out public demand
1t is to be remen bered that stocks are ir,
strong hands. ard that confidence in ulti-
mate results is unimpaired. In many of the
specialties, principally among the indus
trials. strong bull pools are operating, and
sharp advances will be recorded as op-
portunity offers. The short side of the mar
fective arguments. that, all things con-
sidered, the most discouraging feature OF
the present situation would seem to be
merely a prospect Of waiting a few weeks
to realize on present purchases.
Sugar opened ex-dividend at Saturday. S
equivalent and sold up sharply on good
buying. gain of 1 IA per cent from the
initial price being recorded. Some realizing
under cover Of the general dullness resulted
in return to opening figures during the
afternoon. The earnings of the company.
while not remarkable, in a relative sense
for the last quarter are entirely satisfac-
.ory to the management, and predictions
are freely made that this years high level
for the stock Will be from 5 to 10 per cent
| i'm advance of any previous record.
The manipulation in Tobacco was again
| in the interest of higher prices, but in
sympathy with the tagging tendency of the
general speculative list, the movement was
less aggressive than usual. The talk of a
resumption of dividends is still the oper-
ative factor in the present movement but
such action would be largely in the inter-
est of speculation and not in the interest of
good business. The buying Of the stock is
of character that might make opposition
expensive. but at the same time sentiment 10
hot materially altered by the immediate
nanipulative prospect.
Earnings, traffic arrangements and the
customary incidents to prosperity will lie
looked into during the coming season hy
would-be investors and legislative mat tiers
Will. from the date of the settlement of the
cuban incident, gradually become subjects
of less moment. The outlook is by no
means Giscouraging, and save for the nat
ural tlmidty inspired by the doubtful con-
tingencieS of a presidential year. a full
reflection of merit is likely in all the more
active stock issues. Conservative operators
have almost no risks on the short side of
the market. The trading of the last hour
was duh. within fractional radius of the
opening level.