Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-04-22
Unfavorable Effect on Values of a
Newspaper Dispatch.
PRICES, HOWEVER, RECOVERED LATER
Railway Securities May SuppIan'
the lndustrials.
GENERAL MARKET REPORTS


special DlSpatch 10 The Evening Star.
NEW YORK, April 22-London prices
were unfavorably influenced this morning
by cable to the Times reviving the Venez-
uelan incident and criticisng the inactivity
of the governments in relation thereto. A
careful investigation of the facts developed
nothing of & serious nature however, and
prices subsequently recovered the early con-
cessions. The local market was sympa-
thetic with London's action in both in
stances.
The buying of the general list toward
midday was especially good, commission
houses being prominently represented in a
well distributed volume of business. A con-
siderable short interest in Western Union
was forced into a covering movement by
skillful manipulation, l per cent advance
being recorded during the process.
The Granger shares were in good demand,
Burlington being particularly responsive to
the character of the tracing.
A disposition to favor the more deserv-
irg railroad shares and to limit the dom
iration of the industrials Is to be noted
among the evidences of a gradually broad
ening market. Sugar advanced ~
per cent on good volume of buying, due
largely to an extension, of the long account.
Yesterdays sellers of this stock We're by
no means pessimistc on the property,
profit-takng and desire to force out weak
holders being all that was significant in
the movement. The ra pidity with which all
offerings are absorbed even at the present
unusual level, is perhaps the strongest ar
gument in behalf of further Improvement.
Dlstilers has for some time past been
bought by influential interests in antici-
patton of an early and profitable reor-
SaniZa ton. An advance of one per cent
this morning attracted some new buying,
the belief In higher prices in the near flu
ture having extended 10 the trading ele-
ment.
Chicago Gas was advanced by liberal
purchases based on prospective dividends.
The probable date of this companys re-
turn to the list Of dividend paying secur-
tiles is still involved in considerable un-
certainty, owing to possible legal obstruc-
tions. That the plant is earning a dividend
II not questioned, hut the way to its dis
trlbution is as yet only partially developed.
Traders sold the market during the after
room for turn, fractional concessions
being recorded without the assistance Of
significant developments.
Londoa's attitude will have a marked
influence en- values during the balance Of
the week. Reasons previously assigned for
fcrelgn participation in our market con-
tnue to hold and are not likely to fail Of
good results.
The diplomatic differences between this
country and Great Britain are not likely to
cause serious friction but this view would
be more acceptable We're legislative posi-
bniteS entirely rem owed factor.
TIE adjournment of Congress is a neces-
sary condition precedent to a complete
restoration of confidence on the part of the
speculative, commercial and business
world. Money is in good supply at fair in
terest rates. the gold movement has ceased
to be an adverse factor, earnings are fully
up to reasonable estimates, but the fear of
legislative surprises negatives to a consid-
cradle degree all that is good in the pres
ent situation. Arguments are numerous in
opposition to the logic of this condition of
things, but the condition is not changed
thereby.