Evening star., 1897-04-19
War News Caused a Fall in Inter-
national Issues.
POOR SUPPORT OF TEE WESfERNERS
Industries Forced Into a Sympa-
thetic Decline.
GENERAL MARKET REPORTS
special Dispatch to The Evening Star

special Dispatch to The Evening Star
NEW YORK, April 1a-As was feared at
the close Of last week. the severance of
diplomatic relations between GREECE and
turkey was announced during the Easter
hoatcays In the foreign markets. In con-
sequenc" OF this fact private advices.
which. under the circumstances are mere
surmises. were relied upon to reflect the
sentiment OF foreign security holders While
these advtces. for the most part. were dis
posed to minimize the significance of the
hostilities in the east and to predict a
brief and decisive conflict, there were I'M
mistakable evidences of liquidation by for
eign interests
Opening prices for the more promtnen,
International issues reflected concessions
varying from to "a per cent From this
lew level further substantial declines were
recorded in many instances.
Nashville was aggressively attacked bv
room traders. and yielded easily to the
pressure OF both long and short stock
The decline in New York Central was more
important by reason OF the difference in
merit
Tine decline in this stock was followed nv
an advance OF 1 per cent during the moro
ming Of the noon hour From this point
however. the selling again became superior.
and new low leved was established The
bulk or the really encouraging news of
last week was directly applicable TO this
property, and its failure to attract sup
port was consequently a matter OF sig
niffcent comment. At one time an i'm
portant speculative holding was thought
to be on the verge Of liquidation.
This report originated in circles in
terested In depression. and lacked author
fty. but was a deterrent influence in a SEN
sitive market.
Sf paul 7oufbarp nrafarn.a ona ,Ax
Northern Pacific issues all reflected the
fear OF lower prices upon the reopening,
OF the London exchange tomorrow. The
western railroads, which should eventually
reflect the benefits of a foreign war. were
only indinerently supported, the decline In
Omaha demonstrating the narrowness of
the local situation. independent of foreign
difficulties.
The buying. which from time to time
stayed the decline, was credited with COM
ing. almost exclusively. from the short
interest.
Chicago Gas, American Sugar and other
isuues subject to special influences were
given fair support at times but were forced
into sympathetic declines later in the day.
There was at no time during the day any
indication of Decentralization among local
Operators.
1t is admitted almost without dissent that
foreign war would give an impetus to i'm
provement in this country beyond the pos
sibilities of any of the remedial influences
now contemplated. London has not a great
volume OF securities to return. and all that
are likely to come will find a market within
a &C mparatiNei ely narrow limit.
The banks are In excellent condition to
meet the demand for money, should IL
arise, and the federal treasury is equally
strong.
With a tariff bill pending and trade cir
cles apprehensive. the market will be slew
to assume the broad proportions essential
TO sustained improvement Hasty action is
scarcely justifiable in either account Be-
cause profits are temporarily postponed.
by reason Of the complexities of the situs-
tion, IT does not follow that sacrifices
should be substituted for patience. London
will be the dominant influence in tomor-
rows market and may end or prolong the
present tendency toward temporary de-
clines