Evening star., 1897-04-29
FINANCE AND TRADE
London Prices We're Depressed, But
Had Little Influence.
PROSPECTS OF An EARLY PEACE
No Quotations for Two Hours in
Usually Active Stocks.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star
NEW YORK, April 2a.-Insignificant in
nuences producing insignificant results
about describes today's narrow and pur-
poseiess stock market. London prices
were fractionally lower. but were scarcely
factor in the local dealings owing to the
lack OF foreign participation. European
money centers reflected An improved tone
government securities being especially
strong on the more pacific prospect In the
east.
The failure of the Greek campaign AMI
the prospects Of an early adjustment of
perding difficulties inspires a belief In a
broader market for all International secur-
titles.
The frequent periods OF absolute stag.
naticn which have prevailed during the
week are the strongest arguments now OPP
Grating against values.
During the morning hours today no
transactions were recorded in Rock Island
Missouri Pacific. Omaha nor the securities
OF the Southern railroad. With these
usually active issues uaQuoted for two
hours, the character of the general trading
needs TO analysis. Prices 90 no recsde
without resistance. and recover easily to
the average level. but difficulties are in
varfably enumerated In trying to establish
a level superior to the recent average.
bToAefS wnoSe i&Ck Ol DuStIfcSS dnofus
ample opportunity for a discussion of the
main situation. are confident that invest
ment buying Is going on In sufficient vol
ume to force n sharp recovery in prices.
The daily transactions fail to sustain this
view. and long stock frequently demon
strates its transitory ownership by reap:
pcaring at a fractional advance
The facts are that the prospects Of in
Vulnerable amendments to the tartn bill
deter increased risks in speculative Sc
curfties.
The lack of certainty. inseparable from
all things legislative. is Responsible for the
continued timidity OF the average operator
and no aggressive demand seems likely to
antedate the passage of a revenue bill
The outflow of gold, which Is generally
expected to continue. until present engage
ments are doubled at least, Is q disturbing
factor at this Jdncture.
There would seem to be no occasion for
concern on this point. however. In view of
the ability of the country to supply the
demand without embarrassment. but the
evils OF previous shipments are not easily
forgotten.
Railway earnings gave evidence Of m
provement and must sooner or later find
fuller reflection in the securities TO which
they directly apply.
The prosperity of the railroads will not he
justly interpreted until after Congress
ceases to be a factor. Burlngtons report
for the month Of March reflects a gain of
$21SU0. and for the quarter ending with
the close of the same month the gain
ceeds $4,000. The improvement In this
property is regarded as being almost cer-
tain Of duplication in the neighboring
Granger roads. For this reason. these
shares are relied upon to begin the new era
OF prosperity once surrounding conditions
become harmonious.
Superior selling of Jersey Central and
Western Union was reported during the
day to the disadvantage of the price of
each. TIE support Of Sugar and Chicago
Gas were features of unusual interest In
view Of the limited interest elsewhere.