Evening star., 1896-12-22
What is Thought Of the Advioes
From the West.
RUM0RS OF DECREASED DIVIDENDS
Prevailing Confidence as to Ulti-
mate Results
GENERAL MARKET REPORTS
;pecisl Dispatet to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, December pa moderate
volume of professional business served to
hold prices steady during the opening hour
this morning, but yesterdays revelation of
Chicago's financial condition inspired eau
ton outside of the room. Later advices
from the west indicated an increasing ner-
vousness in banking circles and fully justi-
fled the waiting tendency of the forenoon.
The posting of sixty-day notices at all the
savings institutions in Chicago in order to
avert demand from scared deposiiors
which threatened much graver climax
was the incentive TO a revival of sales for
both accounts
Minneapolis advices reported serious dffi-
culties at that center and Indicated 4 fur
ther spreading Of enforced liquidation in
western money centers.
The action OF deros;tofs in that section
or the country during the next few days
VIII be carefully watched and the situation
will improve or become a menace to secrr-
lty values according 10 the extent OF the
demand resulting from impaired confidence.
All possible precautions have been made.
against undue alarm and its consequences,
but to what purpose the next forty-eight
hours must record
In addition to this most unsatisfactory
prospect fr the west, rumors of decrea se,i
dividends aided the declining movement
Delaware and Hudson was attacked by a
professional clique on the alleged prospect
OF reduction in its present per cent di-
vidend rate. The stock was we'll taken
at the decline by those best able TO judge
of the earnings
Canada Southern reduced its semi-annuai
dividend to l per cent. while New York
Central declared the regular rate bu,
showed a liberal decrease IN its reserve
fund For the quarter ending December
81 the latter road reports surplus OF
Sl66,'-S against $slG:an. For six months
the surplus Is reported to be S2l2,71l.
against $o4o,14o for the same period one
year ago.
Notwithstanding these adverse factors.
the general market is weak only during
periods Of professional attacks. The feeling
in the street is unmis aka bly, confident as
to ultimate results. The immediate pros
rect. however. is extremely doubtful. as the
result Of recent uEsuspected difficulties in
the west.
The adjournment of Congress and the
continued confidence In a more satsfac-
tory tel minaticn of the Cuban difficulty are
strong influences for good. Then. too the
ic cal monetary situation is exceptionally
strong, as recent statements have shown.
and il Is hoped that the emergency at other
centers may be successfully passed over by
assistance from this
The decline In prices was fractional i'm a
majority Of instances, Manhattan and slI-
gar being conspicuous exceptions as usual
The former stock was sold down by the
brokers for a well-known room operator
and found little support outside of the
short interest.
If tomorrow's advices should be any more
encouraging than today's have been it is
likely that the preference for profits in
ed TO, but it is mere guess work TO go be-
yond the present