Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-11-13
Short Coverings Cause Rise in Stock
Today.
GENERALLY BETTER TONE TO MARKET
Railroad and Industrial Shares
Profited by the Change.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Sin,

Special Dispatch to The Evening Star
NEW YORK. N,veu Der l3-Prices were
generally improved I'm todays stock market
| as the result of a liberal covering OF short
sales The railroad list gained substantial
iractions. and Sugar advanced H. per cent
under good demand. which exerted a fay-
orabie in1uerce in all departments.
Inc foreign markets, reflected in Lon
don cables. were dull and void OF feature
with the exception of disposition TO sell
Americans on any further improvement.
review or the week leads to the conclu-
sion that in spite ST professional raids the
| market has developed no undArtone indi-
cative of latent strength. Trades reports
have been exceptionally encouraging and
| have had considerable influence in circles
| where ultimate results are n .irst consider
alton. The bond market has increased I'm
activity and prices have advanced steadily
under an Improving investment demand.
Developments of this charac er frequently
stock market.
The Cuban situation has been Invested Of
many OF its alarming features and m.
| speculative mind has to a certain extenr
relapsed into tranquility on this point
With this factor removed from the situa-
| tlon. the legitimate arguments for improve
ment I'm prices would have greater force in
the daily trading. AS has been customary
since the beginning of last month, the week
closes with unusual interest centering In
the decisions of the Supreme Court or Mon
day.
The Nebraska freight rate case has be-
| come somewhat hackneyed i'm it's role of
speculative incentive. Vet its Importance to
railroad investments cannot be oyeresti-
| mated.
The street argues that in analogy 10
rec ent decisions embracing in lesser degree
similar points of law. the outcome of this
action should be favorable.
From the time consumed I'm establish
ing the rights involved there Is now some
apprehension that the action in the Lac lede
gas suit is to be duplicated. Interest in
the result. whether warranted or not is
sufficient to insure some demonstration i'm
prices once definite knowledge is had COW
erlng points at ISSUE
The Dutch sugar decision is apparan;ly
as Tar from being reached as ever. but the
Importance of its findings is fully recognize
ed by the American refiners. The failure TO
cGnstrue the Netherlands system of land
tax REBATES into disguised export bounty
VIII mean decreased resources from i'm
ported sugars and increased competition
win the trust. As a political oXpel..-lt the
latter result would be immensely popular
to all save the holders of the securities II
the American Refining Company.
The bank statement FOR the week reflects
a gain Of $1,33l.oW in lawful money, about
-equally divided between specie and legal
tenders An increase Of Si.2sl.,sn in loans
indicates n Continued demand for money
outside of Wall street the weeks trad
ing has not been of a character to necessi-
tate extensive borrowing. The net result
of the charges in all items including an
increase of S2.3NS. 40 i'm deposits is an in
crease of S,Ss.!25 in the reserve holdings
The surplus reserve is consequently in
creased to 81. l3o. an amount fully equal
, 10 the necessities Of the present financial
situation.