Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-03-20
FINANCE AND TRADE
Lower Prices in London Cause
Fractional Concessions Here.
RUhORED PRESIDENTIAL MESSAGE
The Report Caused Some Appre.
hension Among Spectators.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK, March 2O-Lower prices
for the international list in the London
market resulted in further contraction
in the volume Of local business. under cover
OF which fractional concessions were re-
corded. The professional trading element
Is considerably involved in doubt as to
what course should be pursued in the alb
sence Of a public demand, and indications
point to moderate recessions pending the
formation of a definite plan of action
The publication Of rumors relative to q
probable presidential message on the Cuban
question caused some apprehension during
the early trading. but reliable advices In
dicating that no such message was in pros
pect had a reassuring influence.
Tho slow progress of the belligerency
resolutions in the Senate has made the
street extremely susceptible to rumors
of this character, and Washington advices
are sure to find immediate reflection in
stock values, accuracy being secondary
consideration. The best information OBJ
tainable would indicate that there is little
cause for apprehension with regard Ia
either Of the two diplomatic questions
which have lately figured SO prominently
in the stock market.
AhS III AIueTlCdH lODdCcO
was again conspicuous feature of the
days trading, = per cent advance being
recorded on buying for interests in a posi-
ton to be kept constantly advised OF in
ternal developments. Some realizing at
the advance resulted in a moderate reac-
ton, but the bulk of the effort is opposad
tC lower prices.
A further decline in Tennessee Coal ANA
ron attracted some attention, yesterday S
hayn crntr
nent. The unsatisfactory condition Of the
iron trade and the slow market for manu-
featured products are urged in explanation
o. the realizing movement now in progress
Inc selling for short account attracted by
the liquidation of small holders during the
week has resulted in the creation of q
short interest of sufficient proportions To
warrant moderate recovery N the price
OF inns property. The changes in the rail
way list We're uniformly confined TO small
fractions and were not the result OF any
significant operations.
In market less professional than the
present one the earnings Of the more prom
inent railway properties would not be re-
sarded as Justifying an attack on values.
Ire absence Of an outside interest how
ever. has tendency to permit the mag
nilylng OF the evils that do exist, and weak
holders are consequently liable to be forced
INTO profit taking at the first Indication of
a determined attack in the interest of the
short account
All ehH 30 ConsiuereO, the present mar
rcwness Is not likely to be Immediately re-
heved, and without an extension of the de-
mand. higher prices except in the special
ties, are not probable, perhaps not possible.
A traders market is of course, subject
to only moderate fluctuations and a reac-
ton would cause no alarm. The real own
ers or stocks are not disposed to sell. nor
Will the average speculative furry tempt
them to part with present holdings A
waiting, Improbable market, with a mod
erately lower level to precede substantial
~ hlgher one Is reasonable prediction