Evening star., 1897-03-08
Confidence in Pacific Compromise of
the Cretan Difficulty.
FOREIGN FEELING REFLECTED HERE
Effect of New York CentraI's In
creased Earnings.
GENERAL MARKET REPORTS
'ecial Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, March S.-Growing conf
deEce in dignified and pacific compromise
of the Cretan difficulty was substantially
reflected in foreign security values this
morning. Corsols advanced more than l
per cent, and all continental markets in
dicated favorable revolution in sentiment.
The listing of s56.00o,OOo Northern Pacific
general lien per cent bonds in London was
reported. The attitude of the foreign
markets is generally favorable to American
issues.
Under the influence of this change in con-
ditions the local market opened strong at
fractional advances over last weeks final
figures. The covering of short contracts
was feature Of the early dealings.
The question of Manhattan's next dvi-
dend became prominent factor imme-
diately after the opening. The almost
unanimous belief in a reduction of the
present rate was reflected by a sharp de-
cline Of per cent The directory is not
harmonious as to the amount of the re-
duction. arguments favoring and : per
cent proceeding from interests equally in
fluential The latter rate Is believed to
| represent the most that can be expected.
and the former represents more accurately
the present earning capacity of the prop
ertS
simultaneously with the weakness in
MANI attan, professional Interests began "A
determined attack against New Jersey Cen
| tral, per cent reduction following. Sup
porting orders on scale down were sub
| sequently encountered and forced some
covering of early sales
Artificial evidences of prosperity having
| been fully exposed in connection with this
property, 1t is not surprising that actual
| conditions should invite liquidation. The
speculative position of the entire Coal
group will be benefited by this enforced
| yielding to facts.
| An increase of S94.S19 i'm New York Cen
| trails earnings for the month of February
| served to strengthen the recently improve
position of the shares of that company.
| The entire Vanderbilt group continues to
| reflect the publios appreciation of business
| like management.
The annual report OF the Tennessee Coal
| and Iron Company for The year ending
December 81 shows profits of s692.:si33
| against s1s3,1G3 in 1885. Something more
| than $540.0DJ was carried forward to un-
| divided profits one year ago, and only S1l.-
| coo for the period named above The
| well-known hardsnips of the iron trade
| prevented any demonstration of surprise
| upon the publication of the report.
reduction in the rates for refined su-
| gars and Washington advices relative to
| the treatment of this commodity in The
| new tariff bill had a depressing influence
| on the stock of the American Sugar Com
| pany.
! The certainty of our undesirable specific
| duty and a reduction or possible loss of
| liic niliCiSntidi were III Stu HI
| of the decline. The closing of the books
| for the dividend is an event too close to
| warrant confidence in immediate cam
| paign based on private information.
| American Tobacco was strong throughout
| the day On purchases for both accounts
! due to favorable trade developments. The
| net results of the days trading were again
| irregular, but for reasons entirely logical
| The street is in discriminating mood once
| more, and real merit is not likely to be
long concealed. On the other hand. jus,
| cause for decline will attract immediate
| selling without influencing meritorious is
| sues.