Evening star., 1897-03-06
Effect of the Critical Situation in
the Levant.
ADVICES AS TO CONCESSIONS
Influence of War Rumors on Do
mestic Securities.
GENERAL MARKET REPORTS
Special Dispatch to The Evening star.

Special Dispatch to The Evening Star
NEW YORK. March 6.-The critical sitn.
alton in the Levant was reflected IN all
the foreign markets this morning. thr
American department in London being a
conspicuous exception 10 the prevailing
weakness. Late ady3ces reporting conces-
sions on the part of Greece and the pacific
tone or Official Russian newspapers inspired
a more hopeful tone after the close of trad
ing Continental markets are all weak and
extremely sscretiye. and money continues
10 accumulate
Under these conditions the local market
Is naturally alert to political changes
abroad and may he relied upon TO reflect
the significant events OF the next few DAYS
Should any decline follow a revival of war
rumors the domestic security market is
likely to find excellent support.
The controversy being a matter OF prac-
tical unconcern to this government. home
securities are likely TO appreciate ra hCr
than deprecidte in value once the true sig
niticance of the difficulty is appreciated
TIE liquidation of foreign holdings dur
irg the panic periods of 1876 has establish
ed degree of speculative Independent
unknown in the American market prior 10
that date Consequently the Americon mar
ket is in a position to attract buyers rather
than sellers. if political estrangement in
Europe becomes acute.
Indications are favorable 10 a higher
market for foreign exchange. as the nat
ural result of foreign sales during ths
week aud the steady absorption OF aypothe-
Gated long sterling.
The new tariff bill is to I've considered
as an important factor in this particular.
inasmucn AS increased importations are
assured. Merchants are arranging 10
bring in large quantities of staple goods
under the favorable customs charges Of
the present bill.
Notwithstanding the relief from gold ,x-
ports during the season usually couspicu-
Gus for weekly losses OF coin, It f. quite
likely that some gold will go out prior -
the next crop movement. Fortunately this
movement will be entirely natural and at
tributablc to ordinary busiress methods.
With more than $50. 600 900 IA the federal
reserve and about ss5.so.WU In the local
banks, the trade demands are not likely TO
assume alarming proportions.
The bank statement reflects Increase
of nearly four and one-half millions I'm
loans the first important Increase in sew
eral weeks. One million in lawful money
has been lost during the week, possibly to
the subtreasury. The increase noted In the
loans adds to the deposits materially, but
the reserve is decreased nearly two mill
lions. bringing the total surplus holdings
down to about $51Ju1,W1.
The net changes in prices for the week
are decidedly irregular. declines of and
gains of more than six per cent being
corded. The high-priced dividend-paying
shares have. in nearly every instance.
gained substantially during the week. The
demand has started in such issues as nat
urally follow hgh-graGe bonds in desira-
hility. Movements worthy of serious con-
sideratlon rarely start in any other way.
The process is entirely logical and should
inspire patience among the holders of
merely speculative issues. Mdnhattans
dividend will be an absorbing topic during
the coming week. and will divide attention
with Washington tariff gossip.
The latter influence viii become especial
ly marked after the middle of the week.
The closing of the books for the Sugar
dividend at the time of the reassembing sf
Congress is thought in many quarters TO
mark the elimination of the present
strength in that property.