Evening star., 1897-04-01
Passage Of the Tariff Bill Without
Effect on Prices.
FALL IN VALUE OF TEE COAL SHARES
More Encouraging Advices Regard
ing the Cretan Dispute.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, April by comparison
| with last nights weak closing level. open
ing prices this morning reflected advances
varying from Y to " per cent. The pro-
fessional attack on the coal shares. due to
exaggerated reports of floods in the min
ing districts, was generally conceded to
have been overdone. Accordingly in
creased demand for these shares was
countered during the opening hour. a
slightly higher level being established in
consequence.
Delaware and Hudson around 1O2 attract
ed new sales. however. and a sharp decline
under par followed. At the extreme low
level buying for covering purposes was at
tracted. which subsequently developed into
excellent support, under which the high
prices Of the early morning were again
established.
During the first three months of the year
the shares OF this company have depre-
ciated 2 per cent, and those of its neigh
Dor. New Jersey Central. more than % per
cent The hardships Of the coal trade need
no greater emphasis than are supplied by
comparisons OF this character.
The reduction in Hudson's dividend in
vited the original liquidation. and Jersey
because a reduction in the present rate Is
expected at next Mondays meeting.
In the case OF the former property divi-
dends are declared for the full year, while
the latter rate is determined at the close of
the quarter. The selling of the entire
thracite group has attracted attearion ty
reason Of Its extreme boldness. Without
significant liquidation the present sub
stantial results would have been practically
impossible.
The rallies during the final hour in these
shares were due principally to covering
and the street Is still at loss to determine
the future character of the trading.
The Gould shares, Western Union in par
ticular, were weak throughout the day.
under the influence of sales credited to
being used in the room to depress the price
OF the security named, well pros
pective competition of an active character
The railway list was moderately we'd
sustained under Q narrow volume of buSi-
1ess. Foreign houses were moderate buy
ers because of more encouraging advices
from the Cretan districts. London houses
generally have been disappointed with the
course of the local market during the
week especially since foreign investors
were disposed to assist in any advancing
movement
The industrial department was steady
under the influence of professional buy
ing. Chicago Gas was an exception for a
time. loss of III per cent following real
izing sales. Sugar receded l per cent from
strong opening. but almost Immediately
regained one-half of its loss. and ruled
firm, slightly above last nights level.
The passage of the tariff bill had almost
no influence on the general market A
week ago sentimental advance of sub
stanttal proportions was predicted to fol-
low prompt action the part of the
House. 1t Is now well understood that a
period OF doubt and uncertainty is ahead
ard that apprehension is likely to follow
certain tactics already devised to insure
radical amendments. The final result Is
not expected to work hardships to any OF
the interests legislated upon, but the mar
ket must feel for a time, the effect of the
several threats to destroy profitable duties
The net changes for the day were, In the
main, favorable.