Evening star., 1897-05-11
FINANCE AND TRADE
Better Feeling Still Apparent on the
New York Board.
WESTERN UNION GAINS 4 POINT
lndustriaIs and Granger Shares
Show Strength Again.
GENERAL MARKET REPORTS
'pecial Dispatch to The Evening Star

Special Dispatch to The Evening Star
NEW YORK, May 1.-THE first making
up day in London developed the presence OF
a considerable short interest in the Ameri-
can department. Prices in consequence
were y to u per cent above the local parity
and furnished the Incentive to a strong
opening.
The disposition TO buy noticed yesterday
was again apparent. but was extremely
conservative both to the advance and
the volume of business
Evidences of Increasing business activity
reported by reliable commercial agencies
stimulated optimistic sentiment and III.
short account was In many instances aban-
ooned- The present market Is at best only
creature of the trading element. ana
permanent commitments are rarely con-
templated.
Future declines seem reasonably I,l.,,- .,
attract fair outside demand Rumors Of
probable complications I'm the settlement of
the Greco-Turkish controversy caused some
selling during the noon hour but the fail
ure to confirm these advices DESTROYED their
utility
Interviews with influential officials of
the western Union Company developed the
fact that no serious conflict is anticipat,s
with the Bell Telephone Conpany as the
result OF yesterdays Supreme Court de-
cision. Earnings were reported to have inn
proved, and sources heretofore UNUSUALLY
skepticai as to the company's ability 10
continue present dividends were today re-
sponsibie for assurances that the matter Is
no longer in doubt.
The price of the stock was advanced I
per cent on these assurances, but the sud-
den change in opinion limited the buyine
TO the snort interest The entire Gould
group. particularly Manhattan, was stron.
under the influence Of buying by recently
conspicuous sellers
Tho granger shares were well st,pruartaf
during the early trading on the pros.
rect of improved earnings and increased ac-
uvity. The declaration Of 1 per cen;
dividend on Pacific Mail vindica Jed receni
pr edictions on that subject
In the industrial list Sugar and Chica 90
Gas were the features at improved prices
The manipulation In the former property Ia
confined principally to preventing any ma.
terial advance.
The doubtful fate of the Sugar tariff
schedule has prompted cautious trading
in the stock of the American Company
but opinion is almost unanimous that
legislative Waterloo awaits this monopoly
The rates Of foreign exchange are firm
and the offerings extremely light
1t is considered probable that considera-
Bile gold will be shipped on Thursday and
Saturday Boston houses are in the mar
ket for gold. and s500.ODO will be shipped
from that port tomorrow.
The largest foreign bankers admit tha,
todays rates permit specie shipments &c
Paris, but no important consgnments else
where are expected. Investors are not
noticeably concerned with the present out.
flow. owing to the general recognition OF
the fact that no serious embarrassment is
possible.
Should the movement continue however
some sentimental election of II is practi-
cally assured. For this reason the trading
element will be disposed to accept quick
profts on the new ventures of the last day
two.