Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-03-14
Northern Pacific the Conspicuous
Feature,
AWAITING REORGANIZATION SCHEME
Gossip in Wall Street as to the
Plans.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star,

special Dispatch to he Evening STAR
NEW YORK, March IA contracted
volume Of business and a tenacity Of values
about describes today's short speculative
session. The believers In lower prices have
no argument to offer 10 support of their
position save the absence of new incen-
tive in the opposite direction. The fact
that dizziness continues to be substituted
for reaction is significant and must be
regarded as indicating confidence in the
outcome of more spirited trading. North
ern Pacific securities We're the conspicuous
features of the days trading a 21-4 per
cent decline in the preferred stock clearly
foreshadowing liberal assessment.
1t is probable that the reorganization
scheme will be announced during the COM
Ing week. The stockholders, of course, will
be asked to contribute the bulk Of the funds
necessary to insure the success of the conf
mittees plan, and active trading in these
neglected securities is again likely.
The per cent bids of the company have
long been regarded as the most merltorious
of all its securities, certain contingencies.
not altogether improba Bile being relied upon
to double the present market price. The
committees plan will be awaited with con-
siderable interest, as the rehabilitation OF
this property Is of more than ordinary i'm
portance.
1t is worth noting that Messrs. Morgan &c
Co. will bring out the plan and, IL the firms
every reason to suppose that innovations are
unlikely, general marking up of values will
follow the committees official announce
ment. The strength Of the general market
IS practically essential to the success Of any
enterprise involving stock assessments. In
view of this condition of things conservative
purchases on receSSicnS are likely to prove
moderately profitable during the next week.
The Cuban resolutions may be disposed
OF i'm time to aid in the general movement,
and ordinary speculative factors will again
assume their original significance. An adj
vance in refined sugars was generally re-
garded as indicating confidence on the
part of the American Sugar Company as 10
its ability to control the market for raws.
The stock OF this company will sell ex-
dividend during the coming week, and evil
dence of ar intention to resume the advance
is again apparent
The street is gradually awakening to the
fact that a regular twelve per cent stock
should command higher premium, and IL
is safe to predict that an entirely new esti-
mate of normal value is on the eve of being
established for this property.
General Electric, Distillers and Tobacco
are looked upon as probable candidates for
immediate improvement, favorable develop
ments in each warranting higher prices. il
is said. The element Of risk is least pro-
nounced in the first named and decidedly
pronounced in the last. manipulation being
substituted 70. more legitimate incentive.
Recent figures submitted by Distillers
fleet profits Of more than $4,000 month.
The bank statement reflects a loss of a
trifie over a million and half in lawful
money. and an increase of over two mill
lions i'm loans. An increase of 49,. 100 in
deposits is slightly inconsistent with the
changes elsewhere reported.
The surplus reserve is brought down TO
twenty-one and one-haif millions as he
suit of the weeks operations. The in
crease In loans is the most desirable feat
ure Of the statement, as 1t is beloved to re-
fleet a normal demand for money, the gov
eminent bond transaction being practically
completed.
The exchange market is slightly more sat
isfactory az the close of the week. and in
dtcations point clearly to general improve
ment in the fundamental elements of a sat
isfactory financial condition.