Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-04-21
FINANCE AND TRADE
Early Gables Brought Many Buying
Orders.
EFFECT OF TEE TURKISH SUCCESSES
Prospects Of a Short Campaign in
the East.
GENERAL MARKET REPORTS

Special Dispatch to Tic Evening Star.
NEW YORK. April 2l.-Foreign security
markets were uniformly higher this morn
ing, the American department in London
rejecting gains varying from Ia to i per
cent. Early cables brought in a consid-
cradle volume of buying orders, which. in
addition to a professional covering move
ment, resulted In substantial gains from
the improved opening level.
The floating supply Of stock was well
absorbed in consequence Of this demand.
and no significant selling was reported
from any source. The market was narrow,
but extremely firm throughout the day.
The reported successes of the Turkish
forces were the chief incentive to the buoy
ancy of the foreign markets, on the theory
that no other nation would be involved in
their victory.
The prospects of a brief campaign
coupled with the certainty of a general
clearing of the political atmosphere Of
Europe had a beneficial influence in all
financial centers. London recognizes the
fact that American investment issues rep
resent a minimum risk no matter what the
ultimate result may be. A mere wish to be
neutral in such conflicts is no guarantee Of
neutrality among the nations surrounding
the territory of the combatants.
An altogether different condition exists in
America and foreign investors are begin
ming to appreciate the distinction. The dis
trust of our securities evidenced by for
eigners last summer the result of the
apparent inroads being made by populism
would be largely eradicate by the forced
participation in our prosperity resulting
from general European war.
Sterling exchange rates, which have adj
vanced slightly of late, declined today
under increased offerings of accommoda-
Tho holf in ha.,
exhausted other devices, have predicted
gold shipments during recent depressed
periods. 1t is not believed that any con-
siderable outflow will be occaslonad by
either trade or security balances, and in
any event the sources of supply are fully
equal to the demands OF such situation.
The strength of the coal shares was
feature of the days business, the proposed
strued as a factor favorable to the gen.
eral welfare of the roads. New Jersey
Central and other members of the group
in which a short interest existed were es-
pecially responsive to the demand.
burlington was In fair demand as the re-
sult Of improved earnings for the March 81
quarter Notwithstanding the natural dis
advantages of that period. the road is ex-
pected to show earnings fully equal to it's
dividend requirements.
Interest in tariff gossip is unabated, but
definite information is still lacking. Until
the bill is reported the market is not kelly
" yielu 10 the uncOn0ffneu fumorS, which
are to be expected from time to time dur
irg the committees deliberations.
A well-founded impression prevails that
all predictions as to the character of spe-
cial interesting schedules are likely to
prove misleading. While the general tenor
of the bill may be retained. detail changes
of vital significance are always posi-
bility.
Trading during the last hour was duh
and strong around the best level for the
Day.