Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-02-20
FINANCE AND TRADE
London Bought Literally Of Inter-
national Issues.
TIE EARNINGS JUSTIFY PURCHASES
New Government Bonds Rose to
'Il8.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, February .0.-The allotment
Of the defaulted bond subscriptions TO the
Morgan syndicate had beneficial influence
on values in all departments this morning
In making all advantageous market for the
new bonds, the miscellaneous security list
must of necessity. be advanced sympa-
thetically. Liberal purchases of the better
class of stocks are expected to be made
fIcm time to time for the accounts of those
interested in yesterdays bond transaction
A perceptible increase in the volume of
&C nnnission buying was directly attribute
ole to the general acceptance of the logic
Of this argument and confidence in season
OF further improvement in specula live
values is again marked.
London was a liberal buyer of the inter-
rational issues, the larger foreign houses
reporting q better demand from that CEN
ter than at any time since the Venezuelan
episode.
st. Paul ard Nashville continues to be
favored by foreign buyers. increased earn
ings fully justifying the preference.
|. "A return to four Per cent dividends in the
very near future is practically assured in
the case Of the former property, and there
is every reason to believe that the bond
interests Will keep the price firm III order
to faVorapiy influence the foreign market,
in which this stock has lately assumed the
position of a leader
The price was Web sustained around as
throughout the entire day, commission
houses taking all the stock offered by the
room In all parts of the active specua-
tive list prices were firm, but outside of the
specialties the volume of business was too
small to warrant material changes.
Sales of the Rev bonds up TO / is were re-
corded during the morning and good de-
mand is said to be encountered whenever
round amount is offered for sale. Indica-
tons point to further advances. probably
from to per cent.
Sugar opened at an advance of So per
cent, and tiuctuated within unusually mar
row limits during the entire session. Real
izins sales were noticeable at every advance
over ZIG. but not in large amounts. The
speculative position of this stock is gener-
ally regarded being entirely satisfactory
to the largest interests, and the manipuIa-
ton is solely in the direction of higher
prices.
The market for commercial paper is as
Stunning a more satisfactory condition, and
borrowable funds are increasing in supply.
The tendency towards a decreasing appre-
hension OF tight money is having d benc-
hclal influence in financial circles and once
all fear on this score is removed there will
be few arguments favorable to lower prices.
Tho foreign exchange market is practi-
caliy unchanged in either the volume of
business or general characteristics. The
afternoon trading was moderately active
under increased buyirg for commission ac-
count. The stocks which have lately fig
ured in the advance, and which represent
substantial improvement over the low level
last December, continue to be most in de-
mand.
1t is still quite probable that realizing,
sales will be prominent in tomorrow's mar
ket on account of the double holiday, but
the growing confidence in higher prices
Is assuming proportions which may dis
appoint the react.onists. Higher prices as
the ultimate outcome of the present move
ment. no matter what the daily fluctuations
may be, are almost unanimously believed
in.