Evening star., 1896-01-20
FINANCE AND TRADE
Effect on Speculation Of the Coming
Loan.
MANY RUMoRS FROM WASHINGTON
Engagement Of Gold for Export
WEDNESDAY
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star
NEW YORK, January 20-The complexi-
ties Of the present financial situation contin-
ue to act as deterrent to activity and seem
destined to establish a speculative equilibri-
I'm. The periods of absolute inactivity occur
with increasing frequency from day to day
and the buying pov er is dwarfed beyond
iecognitions as factor.
This condition of things is the direct and
natural result Of an enforced period of sus-
pense, IN which money rates become proble-
matscai and conservatism assumes propor-
tons prohibitive to business. Rumors are
abundant, anc if adverse are persistently
relied upon by the professional element now
in control of prices. Good news of a legiti-
mate character. reports of earnings and the
resumption or increasing of dividends in a
Few instances are disregarded.
The determination on the part of Congress
10 reopen the discussion of the Monroe doc
Urine at time when conditions favor its
complete vondication without the assistance
OF pontcians has not helped matters local
ly. The better element In speculation how
ever. believe that a wiser course than at
present appears on the surface will be
eventually adopted.
The recognition of the Cuban Insurgents in
hourly assured by out-of-town correspond
erts, but the grotesque array of corrobora-
tive matter has uniformly prevented the
time OF almost criminal credulity on the
part of traders. Invention is rampant, and
emouonal movements are decidedly prob
able during the next ten days.
The engagement of over two millions gold
Tor export by Wednesdays steamers was.
announced during the morning, and further
ADDITIONS are likely before sailing hour. An
advance in posted rates for sterling ex-
cbange was made during the day, but other
wise the exchange market presents no new
features. The demand for gold, legal ten
GERS and gold notes is reported to be un-
abated at the previously quoted premium
The meeting of the Chicago Gas companies
was again delayed for want of a quorum
put toward the close of the day were report
ed to be practically in session. The OPINION
OF Attorney General Malowney on the reor-
ganlzation scheme is expected shortly and
is relied upon 20 force an active movement
In the stock Should this opinion be favor
able, the success Of the reorganization will
be materially facilitated.
The covering of short contracts in Amer
lean Tobacco was credited with advancing
the price of that stock. The demand was
soon exhausted. however. and lower prices
were Immediately substituted for those re-
corded during early dealings
In the railway list opening prices were ir-
regular, but In the main steady at frac-
tional gains. Subsequent trading in this
department was conducted at prices not
significantly changed from the opening
level
The real owners of stocks are not among
the sellerS in numbers worthy of mention
and a buying back of recent sales must
sooner or later be recorded The degree of
success accorded the new loan will in all
probability furnish the first incentive to
such movement, and will determine its
extent A liberal subscription, q releasing
OF borrowable funds, and a proper regard
of the country's needs by Congress would
remove all that is really objectionable in
the present situation.