Evening star., 1896-04-15
Eject l.!| Of TIE Transmission Of s0rr'-
sgendsnes on Cuba
@DEHT % RESTRICT SPECULATION
Transactions in American Tobacco
Watched With Interest.
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star
NEW YORK, April 15.-Orening prices
this morning reflected advances varying
from y to y per cent. and were well sup
ported during the grea.er Fart Of the day.
London's quotations were fractionaily
above our closing ieV,l.- but no important
transactions for foreign account were re-
corded. The absence Of any pressure to
sell and q moderate increase in the de-
mand from sources not professional en-
courage confidence in an active and higher
market az thr"season progresses. et
The transmission Of the Cuban CORE
spondence TO Congress had tendency to
restrict trading during the afternoon fears
OF revival OF the discussion on this subject
being inspired thereby. As the documents
submitted are more or less historic, and
contain few items entirely new, there would
seem to be small occasion for concern be-
cause OF rereadtng at this Juncture.
= A better demand for foreign exchange and
the absence OF. any improvement in the
supply Of bills resulted in an advance CT n
per cent In posted rates this morning. A
further advance IN rates would probably re-
suit in a moderate shipment of coin toward
the emo of the week. There are no new de-
velopments, In the general status OF the
exchange situa tion, and an outflow Of coin
should. In Consequence, attract but passing
notice.
The transactions in American Tobacco
"VEc WalCnSO Will considerable interest
throughout the day because of the doubtful
value OF the % per cent scrip dividend, and
rumors Of a probable injunction against it's
payment A 3 per cent decline from the
opening level was recorded during the
early trading on sales for both accounts
The dividends. per cent in cash and 20
per cent in. scrip, were estimated to be
worth about $13. as the initial price Of the
litigation suggested. by the proposed i'm
crease In the common stock overshadowedi
all other considerations and attracted short
selling.
character. but the powerful inside reanipu-
lation may at any moment force q sharp
rally at the expense of the short interest. I
,,I,Is prudent operators are not likely to take
account, prejudice against the long side:
being particularly pronounced. Sugar was
strong under liberal buying demand,
terday's high level The occasional sales
to take profits in this stock are well abb
sorbed, the larger buying even at the pres
7ent level being significantly confident. /
-s The lager commission houses were mod;
crate purchasers of the railway shares for
the accounts Of out-of-town clients among
whom e revival Of interest Is reported
The fractional Improvement noted through1
out the entire speculative list was credited
to an increase In the volume Of legitimate
business. 80. <.-- =.
While the European demand continues to
rule at almost mfnimr m level, local rep
fesentatfves Of foreign houses speak en-
ccuragingiy OF the prospect for an fncrens-
ed foreign demand. The plethora of money
abroad and the high level Of values are re-
lied upon to attract funds into this market
II local conditions continue favorable.
Sentiment Is optimistic, as Is usual at
this season. and activity under the circurn-
stances can reasonably have but one re-
suit, traders reactions being figured on as
matter Of course. The tendency toward
improvement Is all that is actually reflect
ed in the present situation, however SUBJ
stantial additions to values being entirely
dependent upon realization Of present
prospects i@'i' ...f-r'