Evening star., 1897-02-27
Next Weeks Events Discounted in
Speculative Circles.
SHORTS ARE NO LONGER AGGRESSIVE
Main Features of the Situation
Are Encouraging.
GENERAL MARKET REPORTS
Special Dispatch 10 The Evening Star.

Special Dispatch 10 The Evcnng Star
NEW YORK, February 21.--The two i'm
portant developments of the coming week
the adjournment of Congress and the in
stallaiion of a new admnistration-were
literally discounted in today's short spec
ulative session. The cessation Of attacks
by the room allowed the latent strength OF
the market to come to the surface and fiud
reflection in improved prices. In all in
te rested circles great weight is attached
to the probable sentimental influence of the
developments noted.
The short interest is no longer aggressive
and the slightest Improvement i'm the de-
mand demonstrates the scarcity of desira-
lie securities. The happening OF the unex-
pected is seemingly the only menace to
further Improvement
Washington advices would find advers.
reflection in the stock market We're it not
for the fact that conservatism may be re-
lied upon to thwart il-advised action dur
ing the few legislative DAYS remaining.
The outlook for rapid progress ths
part IF the new Congress is less encourag-
ing than it was one week ago For this
reason II is not unlikely that the recess
period will witness the cuimiLation of the
upward movement. Proht-taking will pre-
cede professional campaign i'm the shor.
account. based on probable confusion in adj
mnistration circles by reason of possible
element in Congress.
Politics cannot reasonably be expected to
yield wholly TO patriotism Personalities
and the customary disciplning of the OPP
position are to be expected. The stock mar
ket. as well as the commercial world. must
reflect the varying fortunes of the new reve-
nue. bill during this period of legislative
trfiing.
These factors concern only the daily fluc-
tuations and have no bearing on ultimate
results. Once il becomes apparent that de-
lay is possible she buying demand Will
dwindle to insignificant proportions TO
await definite results Meantime the domi-
reappear and force sympathetic move
ment In all departments of activity
The so-called trusts. manufacturing COM
nodities which produce large revenues TO
the government, can scarcely have their
product discussed without inviting attacks
platform. Events of this character are eA-
pected to make both accounts active as well
as profitable to quick observers.
The main features of the situation. ex-
elusive of legislative possibilities. are de-
cideily encouraging at the close OF the
week. In several instances enterprises held
in abeyance have been entered upon
actively in the belief that the times are
propitous. More general participation on
the part of the public is alone necessary to
substantial as well sustained improve
ment.
The bank statement reflects a gain II
81. i29O1 in lawful money. about ohe-half
OF which is in specie returned from San
Francisco. further gain in legal tent,crs,
Is set down to the currency movement from
nearby towns. but traders are at a loss to
account for the steady increase In funds
of this character. The net result brings
the surplus up to So1,12o, 40.