Evening star., 1897-02-23
The Orotan Situation Believed 70 Hsye
Passed Its Crisis.
PRICES ARE CONSEQUENTLY SfIrfER
Effect Of Rlmors Regarding Consul
General Lee.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star.
NEW YORK. February 2s-A strong un-
dertone Of confidence in the continental
markets was generally reflected in security
values this morning. The Cretan situation
Is thought to have passed its critical stage.
and this fact. coupled with an unwieldy
short interest, has added substantial frac-
tions to the more active issues. An ad-
vance of IS OF per cent In consols Is par
ticularly significant as indicating the
change In financial sentiment Locally.
prices opened steady around last weeks
final figures and were. for the most part.
well sustained under Indifferent trading.
The reported tension between the State
Department and its repre- sentative In Cuba
had tend ,ncy to curtail the extent Of the
upward move vement. In the main. conditions
are not altered from those most conspicu-
Gus during the last fortnight. Optimism
dominates all serious Investment circles
and the daily range Of values Is disregard
ed by all save the professional trader and
the operator on small margins. Railroad
earnings give increased satisfaction. the
discrepancy between the export and inn
port movement, in favor of the former.
adds substance to the predictions for the
near future and commercial conditions In
spire rev monetary ventures.
The stock market fas not attracted any
Considerable proportion of the awakening
ihdHcldi interest, but eventually II must
feel the influence of the conditions noted.
The failures to force liquidation have
been frequent and determined. but the
disposition to yield 10 impatience does not
exist Sacrifices made during the pro-
tracted period of financial hardship are
Lot TO be duplicated on the eve OF the re-
operative epoch. 1t Is more logical TO
expect an incoming of new funds than to
expect the return Of old certificates.
The short interest In the market is no
longer certain of its position. its complete
liquidation being delayed only by the con-
tinued withholding of an outside demand.
The necessary demand is not likely 10 ap-
pear prior to next months changes IN
the policy Of the federal government.
The tarin bill offered in the new Con-
gress Is expected to lead values away
from the prejudces and memories of the
panic periods
If this first effort in the direction of re-
~ dial legislation is successfully suhse-
quent measures may be relied upon 20 at
tract but incorsequential opposition. The
time to be consumed may cNuse disap-
pointment. but the result, IL Is thought,
will be none the less satisfactory.
The various trust Investigations are no
longer seriously considered ard the several
properties concerned have demonstrated
their ability to resist attacks Of all kinds.
Temporary weakness in American Sugar
during the period influenced by the Cuban
rumors was sympathe;ically reflected IN
the neighbcring groups. The railroad list
was given good support on a limited vol
ume of trading. The one group of railroad
properties not in harmony with prevailing
sentiment is the anthracite coal carriers.
With this exception the best opinions of the
street are practically unanimous.
The flnal hour was dull and void of spe-
cial feature. The strength of the morning
continued to prevail without attracting sig
nificant buying.
A period OF ante-inauguration dullness
has settled down upon Wall street but a
sentimental advance is among the possi-
bilities the date of this event ap
proaches.