Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-02-25
FINANCE AND TRADE
Lower Prices in London Cause De-
cline in Stock Values.
NO MATERIAL CONCESSIONS MARKED
Local Speculative Conditions Fa-
vorabIe for Improvement
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

| special Dispatch to The Evening Star.
| NEW YORK, February pa lower Lon
don market was responsible for a general
shading of In stock values during the early
| traoing this morning, but no material con-
| cessions were recorded, owing to the entire
absence OF significant offerings. Local
speculative conditions continue favorable to
| lmproN ement. the only reactionary element
| In the situation being the growing skepti-
cism as to the wisdom of continuing the
advance without realizing movement OF
moderate proportions. Skepticism of this
character has prevailed since the initial ad-
vance was inspired by the probable success
| OF the government bond SALE and in no in
stance has decline Of noteworthy proper
tons resulted, except in cases where spe-
cial forces were operative, notably in Man
haitian and Missouri Pacific. The profess
sional character of the market will undoubt-
ediy Icrce reaction In the near future. but
the more meritorious properties are not
likely to be depressed to an extent justify
Ing any apprehension on the part Of present
holders.
during the last fortnight has been mainly
attributable to the decided disinclination TO
dispose of long holdings. In yesterdays
transactions moderate selling of invest
ment shares was noted, but the proceeds of
such sales are subject to immediate REIN
Vestment and foreshadow an early move
ment In hitherto neglected properties.
The Granger shares yielded fractionally
view OF the temporary cessation of London
buying. was entirely natural Confidence in
higher range Of values for this group of
STOCKS shows no signs of abatement. The
snort interest In Missouri Pacific took ad-
vantage OF the recessions in other parts of
the list to cover outstanding contracts
an advance OF IN per cent being recorded
In consequence. Renewed selling for both
accounts was noticeable in Manhattan, un-
favorable earnings being assigned as q
cause.
Sugar was well bought around III, and
advanced sharply during the early after
noon on the improbability of any tariff
legislation during this session of Congress-
actual intention OF Congress On this i'm
poItant subject and the increasing rroba-
bilities of an carly adjournment the bust
ness interests of the country should speed
lily adjust themselves to actual conditions.
The first effect of the announcement was
Hotfceably disappointing and some selling
OF speculative holdings based thereon re-
suited in lower prices during the final trad
ing
The Industrial and railroad lists were both
inclined toward weakness during this pc
riod. Sugar. which had been advanced dur
ing the previous hour, was depressed to-
ward the close of business In sympathy
with the effect elsewhere.
Inc money market continues to gravitate
toward a natura! basis. and foreign ex-
read earnings reported during the day
were generally favorable. and seem likely
TO continue so during the coming active
season. Toward the middle of March stock
holders viii learn to what extent they are
to be benefited ty this Improvement