Evening star., 1897-04-09
Expecting a Peaceful Settlement Of
the Cretan Difficulty.
FOREIGN SECURITIES WE'RE ACTIVE
Sugar Trust Has Gone Up Five
Points in Three Days.
GENERAL MARKET REPORTS
Special Dispat. n 10 The Evcuiny Stan

Special Disrat. 10 The Evening Stan
NEW YORK. April ?.-Assurances OF q
pacific settlement OF the Cretan difficulty
Were reflected by higher prices In all the
foreign markets this morning British
ccnsols and French rentes were especially
active and almost buoyant Under the in
fiuence CT these conditions local prices
were marked up at the opening for sub
stantial fractional gains.
The buying was not of the best order.
however. the short interest and speculative
purchases by the room being credited with
the bulk of the demand.
moderate investment inquiry for the
better managed dividend-payng securities
was reported, but the proportions OF this
demand are not equal to the task OF sus-
taining prices. unassisted by room trading.
The securities which have been most con-
sptcuous during the week were again IA
vored by the active interests.
American Sugar successfully forced
up TO 10 during the opening hour. net
gain of ) per cent in fraction less than
three days. At this level a disposition to
take profits, AMI some rather good selling,
forced a reaction of q per cent.
The advance in these shares continues to
lack a logical explanation. but eXplana-
tions are nevertheless abundant. The
called inside interests are said to have
done nothing to promote the advance. but
opinion is divided as to who are really in
property.
Conservative houses have not been ac-
tive in the recent movement and continue
to urge legislative uncertainties in justih-
cation of their policy of inaction. Wash
ir gton advices, while somewhat miNe~i
10 the details. are unanimously of the
opinion that the tariff debate viii he well
on toward its close before its character
becomes I'm the least favorable to this prop
erty.
Chicago Gas was advanced under buying
for both accounts the invest ment dema nd
improving in consequence of decreasing
fears of an adverse political complication.
Renewed selling OF New Jersey Central
was a feature of the DAYS trading, the
sympathetic advance OF the last two days
having served to establish a new basis for
short operations.
The reduction of the short interest in the
general market has done more to destroy
its stability than any single development
of the week
The attempt to belittle the influence Of a
protracted tariff discussion, accompanied
by amendment. now unthought of perhaps.
is having no effect outside of professional
circles.
Trade interests fully recognize the difi-
culties of the situation and idle money
will not be risked in speculative enter
priseS until something more definite is
determined upon. The various devices now
offered substitute for legitimate buy
ing will perform only temporary service.
The market must broaden or remain i'm
a state of magnificent f1uctuation around
the recent average level on declines some
Investment buying will appear. on advances
speculative selling for both accounts will
be encountered. Positive conditions Will
reduce the latter action and increase the
former without regard for prices.