Evening star., 1897-04-07
FINANCE AND TRADE
Interest Centered in the Industrial
Properties.
MODERATE ADVANCE OF TIE COALERY
Meager Advices Received Regard
ing Tariff Prospects.
GENERAL MARKET REPORTS
Special Dispatch to The Evening st,r.

Special Dispatch 10 The Evening Strr.
NEW YORK, April THE necessities Of
the short interest in American Sugar sup
piled the incentive to the bulk OF today's
activity. The small premium on these
shares and the failure to inspire significant
Ii'side liquidation forced a sharp recovery
from the Opening level
The per cent advance recorded prior
10 the noon hour represented a liberal ex-
change OF stock. undivided lots exceeding
1000 shares being noted during the pro-
cess. Moderate speculative buying accom-
panied the movement but nothing OF vital
Importance TO the property has developed
OF late. and purchases at the high level
We're not overconfident.
Conditions slightly under The surface are
no more reassuring to the general welfare
of the property than heretofore. The pessi-
mstic following had extended to unwieldy
proportions. and todays movement is be-
iieved to have been determined upon as IN.
mcst practical means of adjusting the diff
ficulty.
An advance in Consolidated and the less
actiNe outside gas companies was feature
of secondary Importance Interest in these
shares Is being revived by the more favor
able legislative outlook.
Notwithstanding the selection of a may
or generally conceded to be unfriendly To
The Chicago gas corporation, the stock of
that company was giver excellent support
throughout the morning.
The railway list was somewhat indifrer-
entity traded i'm, interest centering almost
exclusively in the active industrial proper
| ties.
The coal shares were advanced moder-
ateiy under sympathetic covering move
ment. but no important new under. akings
were reported.
| The nar-owness of the general market
makes movement similar TO that oi today
In. - s..s..
| of opirion on either side furnishing the
tasls for successful manipulation in an op-
posite direction. Traders are, again in con-
troll OF prices. and actual conditions are
not assured of an accurate reflection dur
| ing their periodic yieldings 10 passing
whirs. Except the uncertainties of the
western railway situation. the conditions
en- which values are based are not un-
promising.
Washington tariff advices are meager
| and while suggesting a repetition Of events
| similar to those following the debate on
| the Wilson bill. offer few facts i'm support
OF such a prospect. No one seriously
| doubts an active and prolonged debate on
| the pending bill, but there may be good
| rei sons for doubling the probability OF ex-
ueme measures working to the disadVan-
| tage of Invested capital. In any event an
| iTme 6iate discounting of evil would SEEM
| taking the evidence Of the tape alone 20
be trifie premature.
| Investors have reasons for continuing 10
operate within extremely conservative
| limits. No large sums are seeking invest
| ment and many Of the best known COM
mission houses are advising clients to
make no large contracts at this time. The
pools in few favored specialties are like
| ly TO become active frcm time to time, as
| opportunity offers, but the whole market
offers small Inducements to general par
| ticipation.
There is no acute apprehension noticeable
| in any Qrarter, holders of long stock have
| resolved to wait, apparently indefinitely
! and upon these facts rests the bulk Of all
| the speculative confidence now prevailing