Evening star., 1896-12-02
Wall Street Not Disposed to Believe
War Rumors.
BETTER FEELING AMONG SPECTATORS
Advances in Values Abroad DupIi-
Gated on This Side.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star

special Dtspatch to The Evening star,
NEW YORK, December 2-Londons
prompt response to yesterdays sharp re-
covery In local values inspired an improved
volume of both speculative and investment
buying this morning. Foreign cables re-
f1ected advances varying from IA ts 81 per
cent, the improvement being duplicated In
the initial trading on this side. Arbitrage
houses bought moderately, Nashville in
particular. and were disposed to trade in
the interest of higher prices throughout
the entire list. The short account was
justly credited with a consid era5le proper
ton of the days total transactions. but
the volume of commission buying WAS
noticeabiy improved. Purchasing orders
slightly under the market indicate grow
ing disposition on the part of ION -profes-
sional operators to begin conservative
accumulation of long stock.
In Burlington and Jersey Central the
activity of the short interest was especially
pronounced. The aggressive operations OF
the pessimistic element have been aban-
doncd. and defensive trading adopted as the
cnly means of proftably liquidating out
standing short contracts.
The reason assigned fer the sudden
NcrSal in sentiment is the declaration that
ho radical suggestions relative TO the Cuban
controversy will be made in the Presidents
forthcoming message TO Congress. In con-
SeiNdeiEe circles the real source OF trouble
has always been charged 10 ambitious ora
tory on the floors of Congress.
Outbreaks hostile to pubiic confidence may
be expected to have temporary influence on
values from time to tfne, but finished lcsis-
lation OF any sort at the coming session
must in order 10 achieve such distinction,
be extremely commonplace This view is
well supported by recent interviews with
members of both houses and as receiving
the respectful consideration OF all irfiu-
entail financial interests.
The recent activity In Omaha on the pros
pects of an early dividend or the property
was given additional stimulus this MORN
Ing by the semi-official announcement THAI
a small dividend had been earned An ad-
vance of TX per cent followed the an
nouncement The recent earnings of the
property have been attracting favorable at
tention, the proportion of gain In gross
icing duplicated in net increases
The reopening Of the sugar .elin cries IN
certain districts and the prospect of the
complete operation of all .he plants IN
the near future served to prevent any
marked depression in the comnany's stock.
The approaching Dividend is stumbling
block in the bear campaign against the
stock, past experiences suggesting extreme
caution in assuming resp onsibiii;ies for
the payment of per cent disbursement.
American Spirits was sold down sharply
during the afternoon for a loss of l per
cent from the opening level. At the de-
cline the manipulative interest became con-
spiouot sly prominent and forced a recov-
cry of nearly all of the loss. Whatever
may be the outcome of the trade negotia-
tions now pending strong and eXper-
fenced speculative interest is unquestion-
ably identified with the long side of these
shales.
Money rates were unchanged during the
day, but a slight recession In the exchange
market was recorded under a decreased de-
mand.