Evening star., 1897-03-11
Higher Prices Prevented Only by the
Coming Extra Session.
PEACEFUL OUTLOOK In THE EAST
Tariff Gossip More Favorable in
Tone Than Formerly.
GENERAL MARKET REPORTS
Special Dispatch to The Evening star

Special Dispatch to The Evening star.
NEW YORK. March IA limited vol
ume of business. a strong undcrtonc AMI
surface indications OF increasing nervous
hess on the part OF the short interest
briefly but accurately Describes ioday's
stock market The presence of series Of
stop loss orders was early discovered. ami
prices were forced up 10 meet the demand.
The caution prompted by next weeks sos
sion of new Congress alone prevented
more substantial advances The greater
part of the days news haN Ning direct hear
ing on prices was favorable.
Spanish respect foi an aggressive Ara.ri-
can foreign policy was clearly reflected in
the press dispatches. and hopes are again
entertained that CuLa's troubles viii short
ly cease to menace the security markets
The cretan difficulty. while full of uude-
sirable possibilities. is not likely To awaken
new alarm. The coatinental markets were
generally steady. hut the demand was cred
ited TO the covering Of Old cont"acts. and
rot to n revival of new ventures.
Farm gossip WAS more faVora ble in tone
than formerly. the sugar schedule in par
ucular being less undesirable than was at
first suppo. cd. The larger refiners ar. nor
expected to make the mistake OF seeming
to be grateful in advance of completed
legislation. The American company. rely
argued. make up AT the expense Of the
consumer any deficit caused by the change
from an ad valorum to specific duty.
Speculative circles are consequently less
pessimistic In estimating the value of inis
companys shares. The customary market
movements, based on policy. may he en-
ploNed to disguise genuine satisfaction. hut
that the outlook is satisfactory. in certain
influential circles. is no longer doubted
A submissive attitude on the tar.ff qtIes-
ton may serve the double Durpose OF in
surirg immunity from antitrust legisla-
imported products. 1t will not dispose Of an
attempt at some future stage of the pro-
ceedings to get more faVorabl. terms.
The strength of Sugar during a greater
part OF tn. day had "A beneficial influence
on the general list
In the railroad depa rtment the covering
o. short contracts was especially marked.
Manhattan and New Jersey Central moy-
ing up under demand OF this charactor.
Tie granger shareS were all strong. not
withstanding the unsympa lhetic decline in
the grain markets.
The Union Pacific-Wcstern Union Teie-
graph decision is not. upon better nforma-
tion. construed to he entirely ADVERSE 10 the
latter company. The occupation Of the
territory is a strong argument in favor of
an agreement between the TWO Corpora,i ons
which shall be mutually beneficial
The expense incident to the establishing
of a new line will of Itself be a strong
factor in discoufa ging the presence Of
rivals. The American Spirits agree nient
is reported to b. progressing satisfactorily
and 10 he nearing successful conclusion
The various securities concerned are re-
ceiNing good support from outside sources
Rumors of n verdict for the American
Tobacco in ITS pending suit i'm the New
Jersey courts serve to sustain the price OF
that property.