Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-05-22
Strong UNDERGONE to the New York
Stock Market.
JERSEY CENTRAL ATTACKED AGAIN
Decision in Freight Rate Cases
'Anxiously Awaited.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK, May 22.-Notwithstanding
some frregularity I'm prices, the steady I'M
dertone developed during the last half of
the week continued up to the close of to-
day. London prices were firm but foreign
interest in local securities fails to assume
proportions capable Of influencing prices
beyond fractional limits.
sentiment is strongly optimistic and the
obstacles in the way of Improvement are
being slowly but systematically overcome.
The short side of the account is in dis
favor, except in cases where particular in
nrences make harmony with the general
situation impossible.
The coal shares fail to attract support.
the price of every issue In this group YIELD
Ing after each covering movement is termi-
mated. The recovery In New Jersey Cen
trail yesterday misled no one, and served
only as an inspiration to new selling to-
day.
The decline of per cent from the open-
Ing level reflected further liquidation and
invited aggressive sales on the part of the
profes sional interest.
Western Union has been held firmly
above the recent average level as the re-
suit of demand from the short interest.
which now seems to have been literally
supplied. Movements in securities of this
class are special, and do not reflect ac-
curateiy the conditions which give charac-
ter to the general market.
The granger shares have been the feat
ures OF the weeks Developments and have
pronted by the moderate dealings recorded
In that department. Toward the close of
the week an improved demand was noted
on the prospect of favorable decision in
the Nebraska maximum freight rate case
A careful investigation of the reasons
prompting this confidence In advance of the
actual rendering of the opinion discloses
fo ot 3I,ot
to when or what the decision will be- SINH
lar cases of less Importance have resulted
In rulings favorable to the railroads and
the street Is simply hopeful that the doc
trile applied under similar conditions will
be elaborated sufficiently to cover this i'm
portant question.
The fact that Monday is the last opin-
ion day of the present term, naturally re-
suited In the selection of that day as the
probable one or which opinion would be
handed down. Next to a favorable verdict
for the railroads the postponing of the de-
cfsion to the October term would be most
acceptable. In any event the forepart of
the. coming week viii find interest CEN
tered largely in the grain carrying roads
The opening of the tariff debate and the
possible passage of the Chicago Gas con-
solidation bill on Tuesday, will govern ac-
tivity in the industrial list. The strength
of Sugar and IFS comparative neglect
demonstrate again the superior manipula-
tive ability of the management. The ac-
ton also indicates the presence of doubt
as to what sort of sugar schedule will ul-
timately pass into law.
The bank statement reflects further large
receipts Of money from the interior. the net
gain being about 100000. A small in
crease. less than 100000. in the deposits
allows. practically. the entire gain in law
full money to be reflected in the surplus,
Increasing that item to 81. 9.,S $50. The
loan account continues to point to the i'm
possibility of profits from money lending
Nearly $1,0O0,OU0 has heen deducted from
the total amount of employed capital dur
ing the week.