Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-03-28
Increasing Confidence in Profitable
Spring Traffic.
HOPEFUL UNDERTONE OF SPECULATION
Eyes VIII Be Turned on Washing
ton During the Coming Week.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, March 26.-Opening prices
this morning reflected fractional improve
ment and were subsequently advanced on
q slightly increased volume of professional
business. London quotations were about
on parity with last nights final figures,
but no significant improvement in the char
acter of the foreign demand was noted.
The undertone Of speculation was some
what more hopeful toward the close of
business owing to increasing confidence in
a profitable spring traffic.
Burlingtops report of February earnings,
showing an addition of s27S, 391 to the sur
plus fund. attracted a moderate demand for
both accounts, one per cent advance fol-
lowing. 1000.
In some quarters pessimism has prevail
ed against this property to slch an eX-
tent that short selling alone has been con-
sidered profitable, out during the las: few
days hostile criticisms have been modified
perceptibly. Good news Is almost certain
if immediate and substantial reflection
when applied to this property and the re-
Gently expressed preference for the corn
carrying roads by conservative commits
sion houses, has inspired cautious trading
for the short account:
The ratification of the Northern Pacific
plan of reorganiza ton by all classes OF
bcndholders. both here and in Europe, is
now assured, the third mortgage protective
cOmnllt6e HatlUS lUGOTSe0 Inc pan DIS
being to the best interests Of sucn security
holders. The bonds and stocks representing
the main line are now pledged to support
the scheme, and steps will Immediately
be taken to carry out the provisions OF
the new plan.
The manipulation in American Tobacco
having bean conducted with such success
during the last few days. has finally over
come certain prejudices against operations
for the long account and a moderate buy
Ing demand from the more venturesome
traders was noted during the early trading
this morning. A sharp advance carried the
stock was offered for sale. shrewd traders
regarding the price az sufhciently near the
predicted figure ninety, to warrant real
izing in advance of the pool.
In addition to the assurances of a re-
turn to the dividend list today's rumors
included a possible extra dividend for the
current QI.arter. The large speculative in
terest In This stock viii undoubtedly in
sist upon the declaration Of at least two
per cent dividend but the extra amount is
scarcely essential to the success Of the
stock tran Sc ctions involved in a disburse-
ment at this particular juncture.
Sugar was bought UP to ZIG, a gain Of
l IA per cent over first prices the covering
of traders contracts and moderate COM
mission buying being responsible for the
movement.
The bank Statement reflects loss of S.
3Jt,oW IN lawful money. all in legal ten
derS. This change is directly attributable
to payments into the subtreasury by special
depository banks at the close of last week
A repetition of this movement may be
looked for should exchange rates approach
more closely to the specie point. A con-
traction of two and ore-half millions in
loans is not unnatural in view of the re-
cent curtailment in commercial accommo-
dations
The decrease in surplus is small owing
to a decrease in deposits equal to the
changes noted in the above items
The market for foreign exchange and the
debate in the House on the conference re-
port relative to Cuban affairs will be the
chief factors outside Of the specialties dur
ing the coming week