Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-03-26
FINANCE AND TRADE
Good Effect Of Improved Prices in
London.
SUBSTANTIAL FRACTIONAL GAINS
Increased Earnings of the Granger
Roads Expected.
GENERAL MARKET REPORTS
special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, March 26.-Fractional i'm
provement IN the London market and a
favorable construction OF yesterdays de-
velopments in the Senate resulted in an in
creased buying demand from the room this
morning. Prices were advanced, almost
uniformly. for substantial fractional gains
over the opening level. but no new business
was reported. The strength of the market
for foreign exchange has a tendency 70
promote cautious trading in some quarters
but high rates for exchange are not I'M
usual at this season OF the year.
The treasury gold reserve now exceeds
$l2S.O0O.OOO and is therefore better able to
Withstand the evils OF specie exports than
at any time for months. In addition to the
feeling Of security prompted by the actual
possession Of coin N excess of the one hun
dred-million standard, the action of the
Treasury Department i'm advancing the
premium on gold bars from Lie to BIG in
spires confidence in contracted specie
movement, even should such a movement
become a necessity. The advance in premi-
TN rates Is a most practical and effective
method of discouraging gold Shipments and
should prove OF great assistance in perpetu-
atfng the reserve fund.
Tie scarcity of nearly all classes of com
mercial drawings at this season of an in
creased demand may force a moderate ef-
timental reaction prices should not be ma
terially influenced thereby.
SusqueEarna and Western attracted
some attention by reason of a sharp de-
cline, accompanied by rumors of possible
default on April interest. The stock was
offered down by few traders On these un-
confirmed reports, but Immediately rallied
under covering purchases for small
amounts.
The general list was dull and strong
the Granger shares particularly giving evil
dence of confident buying IN anticipation
OF improved earnings. St. Paul contin-
ues to be regarded as tie leader in this
class Of securities but the already pro-
the probability Of tine sudden appearance
of new favorite, the intrinsic merits OF
which may have heretofore been neglected
Chicago Gas was advanced one per cent
on fair volume of buying by brokers
usually representing the management. The
probable resumption of dividends by this
property is the argument at present opera
tive in the interest of higher prices. Off
cial confirmation of The rumors now cir
culating would be the occasion of a con-
siderable advance in the market price OF
this stock. but recent legal Instructions
to such efforts warrant a cautious accept
ance of unofficial announcements.
The report of the conference committee
will be awaited with considerable interes;.
the dispC stion of the Cuban controversy
berg particularly desirable at this june
ture. AS soon as pending diplomatic ques-
tions are determined, attention vii be given
to the probable date of the final adjourn
ment of Congress, and a stock movement
of moderate proportions may result from
an effort to discount any encouraging evil
dence Of an early d:scontinuance II uE-
profitable debate.
Public interest in speculation Is not likely
to be inspired while legislative uncertain
ties exist, and a traders market is the
most that the immediate outlook presents.