Evening star., 1896-04-04
Prices Advanced Throughout the
Active List.
THE new STEEL COMBINATION
Coming Exports of God Attract
Little Attention.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK, April Am absence Of
pressure to sell enabled traders to advance
prices I'm all parts of the active speculative
list this morning. Sentiment continues to
reflect a growing confidence i'm higher
prices. an increased outside demand being
the one element of Improvement not in-
mediately available
The new steel combination and the i'm
proved outlook for the iron industry
factors of more than ordinary significance.
and foreshadow revival of commercial
activity which. sooner or later, should find
reflection in banking and speculative op-
erations.
Railroad earnings reported during the last
half of the week were. in the MAN, fully up
to expectation, St Paurs report showing
an increase of $l70,41S for the fourth week
in March being particularly encouraging.
The engagement of half million gold for
export 10y Tuesdays steamers. announced
early i'm the day. attracted little attention.
the street having been fully advised Of the
Likelihood of such a movement The amount
may be increased materially prior to sail
ing home, but ir view OF the assurances
given 10y the leading foreign bankers that
no prolonged movement is likely, values
should not toe depressed beyond fractional
limits, if at ALL
The furry in Tobacco incident to the divi-
dend announcement has apparently run it's
course. and the movement terminated
with the bulk Of the stock in the hands OF
the larger inside interests the street cam
rot have been seriously affected by the
somewhat advanced financiering resorted
to by the management No important de-
cline can reasonably be expected while the
stock remains distributed as Il now is ana
some new device may he necessary to In
spire an outside public demand.
The fact that the general market proved
unresponsive to the movement in this prop
f,,rv v,sel. al ~ hA
| stability of the present speculative under
| tone. All things considered, the contracted
operations of the week have not been un-
satisfactory, and future developments
should, If present expectations are realized.
result in a substantially higher level OF
| values between now and summer.
The short interest in Manhattan was
credited with a sharp advance of per cent
| in the price of that property this morning.
The proposed Brooklyn bridge connection.
having been sanctioned by the municipal
authorities. was the incentive behind the
covering movement, the beneht to the COM
psny therefrom being generally recognized
The buying of Union Pacific by brokers
conspicuous in advancing the stock of this
com ompany early in the week was continued
up to the close of business today. As this
move ment is based on the possible action
Of the subcommittee on Pacific railroads.
and as the action of that committee. at
this session OF Congress is among the
more remote legislative possibilities. con-
servative operators are of the opinion
that TO extensive trading is warranted
for the present.
Among the low-priced stocks. however.
this property is perhaps the favorite.
The bank statement reflects a loss OF
Sl,2.alWIo in lawful money. the bulk OF
which is in legal tenders. the decreases in
loans and deposits are Insignificant and
merely reflect continuation of conditions
which have prevailed since the settlement
Of the government bond transaction.
An advance in money rates due to the
slowly diminishing surplus reserve may
serve to force an early abandonment of the
specie movement.
Exchanges Closed.
NEW YORK, April 4.-Today is a holiday
on coffee and cotton exchanges.
LIVERPOOL April 4-The cotton, grain
and provision exchanges are closed today.