Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-02-19
FINANCE AND TRADE
Fractional Advances Owing to Lon"
don Buying.
VOLUME CT BUSINESS CONTRACTED
Strength of the New Governm mt
Bonds.
GENERAL MARKET m 80
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, February 19-London buy
fng was again apparent in local stock ope-
rations this morning, and fractional adj
vances were consequently reflected in a
majority Of the active issues. The volume
Of business was even more contracted than
yesterday, evidence of an almost complete
exhaustion Of the buying power being de-
cidedly pronounced.
The market has steadily increased in mar
rowness CT late and no significant broaden
ing is probable prior to a reaction of pro-
portions sufficient TO force realizing on
weakly-held securities
Sentiment is strongly optimistic and pub
lie interest would undoubtedly be attracted
by reaction of two or three per cent. The
holiday Saturday will afford an excellent
opportunity for profit taking, as well as
supplying conventional excuse for such
acuon- The street is heavily long of stocks
on which large sums of money have been
borrowed. and on which there will be no
opportunity of realizing any profit during
the approaching holiday and the Sunday
Immediately following.
This fact, coupled with the manifest
want of energy at the present level, may
result in moderate setback in values to-
ward the end of the week. Commission
houses generally attribute the absence of
a public demand to the fact that advances
from the Panic level have extended to ten
and twenty per cent without a reaction of
any material Importance.
The strength of the new government
bonds. sales being recorded today up 10
liz il, was generally regarded as indi-
eating continued confidence in the wisdom
OF the recent course of values. and may
prevent the fulhllment of reactionary pre-
dictions.
The declaration of the regular 1 per cent
dividend on Burlington at today's meeting
directors c2nSa6 In hat
Stock, the price improving I per cent in
consequence. The reports of earnings on
which this decision was based, while show
lLg lass than the full annual rate earned,
are generally believed to he the last of a
long list of unfavorable statements
The prospects for profitable spring sea-
sen are encouraging, so much so, in fact,
that the fractional discrepancy between the
amount of dividend to he paid and the
amount actually earned will be more than
provided for during the coming busy sea-
son. The balance of TIE granger shares
were steady within fractional limits Of
opening prices
Sugar was active and irregular under
1ealiZlng sales, and some extension of the
lons amount. the price yielding from ZIG
to IA IS, aid subsequently rallying under
rev. buying. The logo of the advance in
Sugar is generally admitted and confidence
IN more substantial results is practically
Unanimous.
The market for sterling and continental
biils was so duh that accurate esti-
mate OF rates was impossible. Bankers re-
port supply of accommoda tiers fun up
10 All probable requirements, and express
satisfaction with the outlook for n normal
eNchahSe market. Money rates have not
changed from yesterday, but the appre-
heESi"n oil a tightening market has not en-
tirely disappeared.
The last hours trading was duh and re-
nected some irregularity. Prices were gem
orally steady, however. and in q majority
OF instances Unchanged from The CDcuirilr
level. Manhattan and Burlington reelected
substantial Improvement and la no instance
was any material decline noted.