Evening star., 1897-03-17
Effect of the Approaching Crisis in
the East.
ACTIVE SECURITIES ABROAD WEAK
Arranging to Fund the New York
Central Loan.
GENERAL MARKET REPORTS
Special nisna,ch to Tho Eycr.Ing star

Special nisna,ch TO The Ereiing Star
MEM YORK. March l7.-Today's stock
market hesitated noticeably during the IN
ital trading the result Of the approach
ing crisis in Crete. Foreign cables reflect
cd weakness in all the more active secur-
tiles, the American department In London
being from IA TO 3-4 OF l per cent und II
yesterdays final figures Some selling for
foreign account was reported. bat the sales
were not significant. All offerings were
quickly absorbed. and the strong under
tone of the local market was not only re-
tanned. but improved.
The buying Of the diy!Gend-payIng prop
critics continues To bc OF the same conf
lent character heretofore noticed. The
completion of the arrangements for funding
the New York Central loan on terms sim
liar 10 those adopted 10y Lake Shore was
reported during the morning. the entire
list proiiting by the announcement A
general reduction of fixed charges by this
economical funding process may be eN-
pccted from time To time, as opportunity
offers There are several INSTANCES ia
which the dividend disbursements on stock
issues may be improved by a reduction OF
he interest paid on bonds
The liberal Endorsement of this polic,-
throughout the Vanderbilt group is suiii-
clent recommendation for its more general
adoption.
The securities of Northwestern and oma-
ha were especially in demand. but The in
gIiry for the properties similarly mango
has not abated.
The change in the position of the active
interests in Missouri Pacific has hai
beneficial influence the entire Gould
group as well as the general marae;. In
sterests which have been noted among the
caily sellers Of this stock for several
"eeks have entirely abandoned that posi-
tiGn The stock was consequently allowed
20 reflect the prevailing optimistic sen:i-
nent and work back toward a normal level.
Western Union and Manhattan were SYM
paihetically strong. as a result OF the
change in the direction OF their active
lcighbor.
The entire railway department reflects
confidence IN a permanent change in iinau-
cal conditions. The early passage of a
tariff bill would find the market I'm excel
icnt position to make the most OF this well
come announcement.
Experienced observers at Washington ara
cautioning operators against over conf
dence in this particular. but the action of
the House alone viii find substantial
Election in prices. At the regular meeting OF
the directors OF the American Bell Tele-
phone Company this morning il was de-
ci,led 10 recommend an increase in ;he
present capitalization. The authorized is
sue of the company is SlD.1S,pn, of which
trifie less than one-half remains in the
treasury.
The amount to be Issued will be sub
n.itted TO a decision of the stockholders,
the price to be fixed by the commissions
of corporations. heretofore. The regU-
lar quarterly dividend OF So per share was
declared.
TIE industrials were active and irregG-
lar sugar and tobacco being the features.
The position of sugar under the new tariff
bill Is regarded with more favor as the
real results of the rates are better
understood.
The market reacted during the final hour
as the result of some profit taking but the
selling was unimportant in nearly every
Instance.