Evening star., 1897-01-15
FINANCE AND TRADE
Uniform Advance in Stock Values
Today.
EFFECT OF ACHIEVEMENT STATEMENT
Arbitration Treaty Continues to Be
Regarded With Indifference.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening star.
NEW YORK, January l5.-An improved
volume of commission business on the part
of the short interest resulted in a uniform
advance in stock values this morning. The
government statement of the December ex-
port movement. show ing continued increases
in favor of this country. inspired a more
general belief in future prosperity. The
preference for the manipulated shares.
while stil marked, is less of a feature
than formerly. the entire speculative list
moving up in sympathy with the demand.
Washington advices were. I'm the MAN.
satisfactory TO the changed position of the
active interests. Union Pacific was ne
elected. the certainty OF foreclosure pro-
oeedngs precluding purchases, and the low
level with an outstanding short interest
deterrng sales. The measures pending In
the committees of both houses of Congress
give no evidence OF being acceptable to the
management of the property. and will not
therefore interfere with the government
plan of foreclosure.
1t is understood that the details of this
action are yet undecided. but with the
assurance of harmonious action. along tn.
lines suggested by the reorganization COM
mittee further delay should he brief.
the failure OF the English arbitration
treaty to arouse enthusiasm at the time of
its presentation to the Senate warrants the
belief that its future course in that body
Will be passed over I'm a similar manner.
Unless this view be vindcatcd by future
developments. it is likely that the influence
eNerted will he adverse to values.
With legislation restricted to routine mat
tiers. as now seems probable. the actual
change in business conditions should find
r.ore thorough reflection in the daily
range of prices.
The business centers and the manufac-
turing districts report increasing activity
and give evidence of furnishing a tangible
basis for the confidence developing on all
sides. Industrial activity insures railroad
prosperity. Earnings are to he replaced in
their former significant position. and, III
prospects be not misleading. friends of the
better managed properties relied upon
to begin the customary dscounting process.
The belief is gaining ground that the
usual evils of tariff legislation will be
averted by compact to expedite the pas
sage o. q revenue measure to the exclusion
of all matters not properly before ex-
traordinary session of Congress. Traders
are slowly abandoning their extremely pes
simistic views and, If the general public
will assist, future movements are likely to
be developed In the interest of higher
prices.
Tennessee Coal and Iron was marked up
sharply. under buying similar to that noted
yesterday. The new interests in the prop
erty are known TO be opposed to seuti-
mental investments, and for this reason
are obliged to draw conclusions from sur
face indications only.
Chicago Gas. with prospects of ultimate
consolidation and assured ability to earn
dividends, is attracting attention of the
right sort. The distribution of a second
dividend in the near future gives color to
the argument fayoring regular payments at
the present rate. The Granger shares were
strong throughout the day. responding
easily to a noticeably improved demand.