Evening star., 1896-09-18
Initial Prices Strong on Advices From
London.
ENCOURAGING OUTLOOK FOR EXPORTS
Growing Confidence in the SoIu-
ton of Pending Questions.
GENERAL MARKET REPORTS
Spociai Dispatch 10 The Evening Star.

Special Dispatch TO The Evening Star.
NEW YORK, September 1s.-Marked i'm
provement in the tone OF the London mar
ket. expressed principally in a growing
confidence In easier money rates at that
center, resulted In a strong opening
throughout the speculative list this morn
in. the large short interest created in the
foreign market as the result OF last weeks
advance in the official discount rate and
impending political disturbances in eastern
Europe is relied upon to force "A sharp re-
covery in prices should money conditions
become more settled. Consols are expected
to be especially sensitive to Improvement
In general conditions
/ The encouraging outlook for an active
export season, as indicated by the outward
movement OF grain and cotton. is a signifi-
cant FACTOR in the present situation. With
trade balances already in our favor and
contracts for the transportation of freight
SO numerous that all available space has
been sold for the balance of the year th,.
natural tendency of prices is kept In tn.
doubtful column by political consider atioEs
Only.
Moderate in,I roveme mt in prices such as
was recorded today on limited dealings IN
dtcates growing coEfiderce I'm a satisfar-
! tory solution OF these embarrassing consid-
erations. Traders heretofore active in de-
pressing rrices have become equally promi-
nent I'm the opposite direction The declin-
ing tendency. Loted during the middle OF
the week. required a considerably larger
volume Of business than has been necos-
sary TO force the recovery of the last two
days.
The absence Of any pressure to sell is
noted on all sides, and professional trans
actions are hampered by the failure TO dis
| lodge long stock. The Withholding of the
| demand from investment sources amounts
| 10 a practical assurance that the upward
| movement viii culminate with any general
taking of profits. This result is not only ex-
pected. but desired, since the demand from
| outside would be much more easily inspired
by reaction and decrease in the period
| OF anti-.lection suspense
| Sugar and Manhattan were the conspicu-
| Gus features Of their respective depart
| r1ents. manipulation being substituted for
| more substantial argument in forcing i'm
| proved prices.
The general list moved up fractionally
in sympathy with the activity in the prop
critics named. A disposition to realize on
| early purchases WAS entirely responsible
for the recessions recorded during the first
half of the final hour.
| The prospect of local money rates recel-
1 ing under the legal rate, the result of
| gold importations. increase from day 10
day. The bank statement tomorrow may
| not fully reflect the weeks changes in
| monetary conditions. but a partial return
| TO more normal trs nsactions is expected.
| The settlement of the southern rate war,
| or assurances that the disturbing system
| would immedia tely restore its regular rates.
| may be included arong the Gays import an.
| favorable developments. The ruinous pol
| Icy. naugurated in defiance of all business
| methods, of making a favorable showing
| Of tonnage at the expense OF profits is
| happily on the verge of abandonment.
| If western managers are reminded OF
| their obligations to shareholders by the In
| tervention of the courts, in this case,
the result should find substantial reflection
| in values.