Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-01-23
Prices Fall Owing to the Decline in
London.
BANKS FORCED TO RESTRICT LOANS
What is Expected of the Coal
Roads Presidents Conference.
GENERAL MARKET REPORTS
Social Dispatch 10 The Evening Star.

Special Dispatch 10 The Evening Star.
NEW YORK, January 23.-Opening prices
this morning were about on a parity with
last nights closing figures, but immedi-
ately yielded to the reactionary efforts of
traders. Londons early cables reflected
fractional concessions from our closing and
brought no new business to this side
An advance in call money rates and the
revival of tight money fears were factors
of primary Importance throughout the day.
Tho banks are confident of their ability to
meet the demands of clients interested in
the new government loan, but in preparing
to meet such demands 1t has been found
necessary in some instances to restrict
loans On the other hand the demand has
been confined within very narrow limits. as
the prudent borrower is unwilling to oper-
ate in a stagnant market with funds in
which he may have but a transitory in
terest. The demand for gold and legal ten
Iers Of large denominations is unabated at
the recently established premiums
This latter condition is the unusual fea-
ture Of the situation. ard is the result of
the probationary period Incorporated in the
bond c.rcular.
Foreign houses report a more active de-
mand for sterling exchange, and ind:ca-
tons point to a moderate outflow of gold
at the end of the week. Shipments will be
confined within the limits of actual neces-
sity, and will not exceed the amounts re-
Gently received from the other side.
The meeting of the anthracite coal pres
idents was attended by all the roads in
tereSted in the production and transporta-
tion of cCal including represent atives from
the Sales Agents Association. No definite
plan has yet been agreed upon, but it
is generally expected that some beneficial
action viii be taken The coal shares were
not improved by this prospect, however,
the duliness elsewhere reflected being
tended to this group.
4 per cent advance in the price of
Manhattan was credited TO a revival of
| rumors relative to its consolidation with
its chief competitor, the Broadway cable.
Buying by Vanderbilt interests for the
purpose Of representation in the directory
was also urged by these fayoring higher
prices 1t would appear that the prevail
| ing disposition is to force higher prices as
opportunity offers. relying upon one or
both CT these explanations to accomplish
the result. The dullness in the general
/ Est was as pronounced as in previous days
| CT the week, prices shading of for want of
| interest.
Sugar was advanced to 104 on the cover
| ing of short contracts prompted by the
announcement that all orders were being
| received subject to delay in execution. AT
| the advance selling became general and a
decline to opening figures ensued. The
comDany's business is known to be salts
| factory, but there is little inducement TO
| trade in even twelve per cent securities,
when the money market is considered>
The final trading was dull and in the
main professional in character. Prices
| were irregular, but in a majority of in
| stances fractional declines We're recorded.
Prices Fall on the Exchange.
| LONDON, January IA report that
| the queen was somewhat seriously iudis-
| posed and the announcement that a treat
| providing for offensive and defensive
| alliance had been concluded between Rus
| STA and Turkey had a disturbing influence
upon the stock exchange today. The mar
| kets were less firm. and in the afternoon
| consols. after gaining one-quarter. receded
one-sixteenth below the prices of yester-
| lay