Evening star., 1897-06-05
FINANCE AND TRADE
New York Etook Market Continues to
Show Strength.
PRICES HIGHER THAN LAST WEEK
Attributed to General Change in
Speculative Sentiment.
GENERAL MARKET REPORTS
Special Dispatch to The Evening star.

Special Dispatch to The Evening Star.
NEW YORK, June BY comparison
with the best prices of last Saturday. clos
ing prices today. for the more active is
sues. reflect gains varying from 2 to 3h
per cent. This result is attributable to
general change In speculative sentiment,
encouraged by Increased earnings and an
improving legislative prospect.
Realizing sales have been reported from
time to time. but in no instance did they
exert more than q passing influence on
prices. Whenever the pressure to sell. for
either, account. has been relieved. prices
advanced promptly under a conservative
commission house demand.
The trading element have not wholly
abandoned operations fer the decline, but
their efforts are now centered in securities
which ale only sustained by the surplus
strength OF the general market
Discrimination is apparent on all sides.
and the most deserving issues are alone as
surcd of permanent support.
The market is undoubtedly broadening,
but has yet much to accomplish in this
particular. AS its professional character
decreases the resistance to improvement
decreases.
The stocks marketed at the close of the
week to take profits have gone into ac-
counts which. in many instances. have
been inactive for months.
This ability Of the market to absorb such
offerings W1th1n a 1ractlOn OF tne Initial
sale would of itself demonstrate the radical
change in Underlying conditions.
Capital is gradually shaking off its al
most chrome timidity and idle funds are
once more seeking employment Capital
employed means labor employed and labor
employed means a degree of prosperity i'm
possible of confinement in single specuia-
tive community.
The hope for and confidence in reviving
prosperity can only be shaken by an un-
expected blunder at Washington. Business
methods at that center will encourage bust
ness activity at others. In this belief the
market at the end of the week reflects re-
suits both creditable and satisfactory to the
active interests.
The Whitsuntije holidays in Europe ill
delay further trading for foreign account
until Tuesday. In order that LONDON may
be fayorably impressed with the course OF
the local market it is likely that an cs-
pecial effort will be made to advance prices
in the international list on Monday. This
prospect and confidence in an Increased
mail inquiry over tomorrow are relied upon
to start the week under favorable infiu-
ences.
Throughout today's market interest con-
tinued to center in the Granger shares the
ton being the highest for the season The
signing of the Chicago Gas consolidation
bills by the governor this morning invited
some realizing, which prevented the stock
from appearing to advantage by compari-
son with neighboring issues.
The short interest in Sugar forced up the
price of that security as the result of ne-y
fears that manipulation may continue The
advance while the tariff schedule is delayed.
The bank statement reflects an increase
of 81 400 900 in loans as its chief feature.
This increase is largely due TO the ad-
mission of new member to the clearing
house. and not to an increased demand for
money. An increase of $5,655.1o0 in de
posits decreases the reserve by $l,295,2l5
bringing the latter item down to S3,3.0,-
COZ