Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-02-08
Average Prices Of Stocks Higher
Than Week Ago.
BEARS HAVE BEEN DISAPPOINTED
Preparing for the Rapid Payment
for the Bonds.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch TO The Evening Star.
NEW YORK, February s-The fatterine
testimonial to the nations credit reflected
in Wednesdays bond transaction seems
destined TO endure beyond the usually brief
reriod allotted to speculative influences.
Comparisons made at the close of business
today with average prices one week ago re-
fleet net gains varying from to per cent,
the latter for Sugar
The proportions of this advance, coupled
with the almost uninterrupted improvement
since the December panic period, have been
| relied upon from time to time to force a
reaction, but disappointments have resulted
in every instance. AT today's high level the
character of the trading WAS more salts
factory than at any time of recent date, and
the trading element is pronouncedly opt-
mistc to next weeks prospects.
The fact that the bond awards are so
widely distributed is an encouraging feat
ure of the situation when the effect on the
money market Is considered and should
dispose of ell apprehension as to the proba-
bilitics of tight money. The bonds awarded
to local interests are already provided for
SO as to obvtate any monetary disturbance.
The treasury's plans for a speedy delivery
of the bonds will greatly facilitate the
banking operations incident thereto and
Will enable bidders to make deliveries to
small investors from the date of the first
1nstallment. Funds held in allegiance by
the latter class of investors will conse-
quently come into immediate circulation.
Ihere Is no longer any serious doubt OF
the treasury's ability &c get in the need ID
gold without any undesirable Incidents, hut
the perm8nency OF the fund when re-
established is a subject considerably in
voived in uncertainty. Legislation is alb
solutely essential IL the federal gold reserve
is to become anything more than a tran
STORY fund, capable only of inspiring con-
fidence when rehabiltated by an issue Of
bonds.
An increasa in ravenue would reroadv
existing evils and restore this important
fund to the sphere of usefulness originally
intended. While the immediate effect OF
the bond issue has exceeded even the. most
slpguinc expectations its ultimate effect on
the gold reserve is an unknown quantity.
1t is probable that the bonds relied upon
to attract foreign gold will be considerably
reduced in amount, owing to- the higher
premiums offered by individuals nearer
rome, and may cause disappointment in
certain financial circles recently active in
supporting the general market.
Congress, however, has not abandoned
its efforts TO provide against undesira BILE
contingencies. and important favorable de-
yelopmcntS during the coming week are
not improbable.
Should the Senate act favorably on the
revenue measure now before It. the present
movement in values would be prolonged
indefinitely
The House vote on silver VIII have a good
effect on values. and Will add TO the stead
lily increasing supply of arguments against
ito iecoshIlioii on recently attempted lines.
The bank statement reflects but few i'm
portant changes. the increase in loans
being made significant by the fact that it
Is the first in several weeks. The Increase
may be due to preparations for maxim,
bond payments, but ia, nevertheless, en-
couraging. The gain IN lawful money il
more than sufficient 10 off set the increa sci
reserve demanded By an increase OF over
two millions in deposits. An increase of a
trlhc over a half million in the reserve
brings that item up over $4,000 COO AMI
| indicates a strong financial condition
among the local banks.