Evening star., 1897-05-19
Dullness Was the Chief Characteristic
on the Stock Board.
FLUCTUATIONS IN CHICAGO GAS
Due to Unsatisfactory Advices From
Springfield, Illinois.
GENERAL MARKET REPORTS

Special Dispatch TO The Evening Star.
NEW YORK. May 19.-opening prices
this morning were generally steady unde..
the influence OF favorable foreign cables
Government securities throughout Europe
reflected the improved prospect incident to
a speedy adjustment of the eastern diff
culties.
French rentes and British consols were
especially influenced by the change in con-
ditions. The local market was given excel
lent support, but no new buying was re-
ported.
Dizziness was the dominant characteristic
at many points. new ventures being de-
iayed on the presumption that proft-taking
would force concessions later in the day.
An attack on New Jersey Central met
with little opposition, the price recedinp
N per cent under selling for both ac-
counts This property has been. IL seems,
destined to be for some time the centei
OF professional attacks. Recent dtsclo-
sures OF reduced earnings and the general
disadvantages in current trade give color
to the prevailing sentiment against inn
provenent in price.
The entire Coal group is likely to feel the
innuence OF any pronounced movement I'm
TINS active member. While the balance OF
transactions in Chicago Gas attracted con-
siderable attention. Buying against short
sales and some additions to the long ac-
count advanced the price to s2s. during the
forenoon.
Later in the day Chicago advices indi-
Gated a change in sentiment at Springfield
not bic to the success of the consoii-
dstion bill. Cautious selling was attracted
by the prospect, the stock declining to X,
around which price the customary support
was encountered.
The defeat OF the bill was announced ear
ly in the afternoon with the stock selling
at the latter price. A sharp break to ~ 3-S
followed on sales of both long and short
STOCK The majority against the bill was
SO large that II would seem impossible that
friends of the property could have been so
thoroughly misled as to the chances of
success.
Buying against short sales forced a re-
covery from the low level inside support
coming promptly to the front. 1t is said
by those in position to judge accurately of
the companys prospects that dividends will
be continued and amply earned. The de-
feat OF the bill, however, will undoub. edly
encourage legal attacks looking to the ell
Joining of dividends under the present ar
rangement.
The situation is complex, and the market
action of the stock will be such as is usual
In cases where doubt and manipulation
oEly are assured.
Sugar was dull at a fractional decline,
the trading in the stock being insignificant
in volume If decline is not acceptable
to the lSrger interests in this property II is
asonably certain that an advance mes.s
with as little favor.
The Granger shares continue strong un-
der buying trif1e superior to that re-
hected in the general market.
The market for foreign exchange is Gull
and firm under extremely light offerings.
Should the demand increase moderate
amounts of gold would go out by Satur-
days steamers. but not in sufficient volume
to warrant the slightest concern.