Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-01-08
FINANCE AND TRADE
First Week of 1893 Shows Satisfac-
tory Stock Market.
PRICES TODAY WERE MOSTLY UPWARD
Good Feeling Manifested Toward
American Securities Abroad.
GENERAL MARKET REPORTS
Special Dispatch to The lyeaans Star.

Special Dispatch to The lye,ans Star
NEW YORK, January S.-A well dis
triouted volume of business and a continued
demand for high grade securities resulted
In strong stock market this morning
LONDON reported good continental de-
mand for American issues, but did little
on its own account.
The net result for the first week of the
new year is entirely satisfactory to the
more conservative interests, and predictions.
based on the successes of the last few
days. are decidedly encouraging to owners
OF meritorfous properties.
There have been almost constant evidences
of manipulation during the week, but as
prices have been improved under it, there
Is strong likelihood Of a public demand
based on the demonstrated responsive at
titude Of the general market. Liquidation
of speculative holdings has been in progress
daily, particularly In Western Union, Man.
haitian, Metropolitan and Burlington. With
occasional exceptions all of the shares
named have Proved superior to the offer
ings.
Inc third property mentioned has re-
Elected considerable manipulation and has
of prosperity.
The introduction of a bill requiring a seat
Tor every fare was used momentarly
against the Traction issues during the first
hour. The opinions as to the future of the
market are divided In speculative circles
and this fact is likely to make conditions
which will alternately favor each account.
A traders market Is as much as the daily
aggregate OF business would seem to war
rant, but with growing demand for at
least dozen of the more prominent issues
there is undoubtedly an interest in the
course of prices outside professional cir
cles The ability to sustain the market for
the time being Is consequently equal to the
development of a market similar to the one
which made the high records I'm September
The prices recorded in the month named
stood Tor the high-water mark of the year,
but there are indications that the coming
spring Will improve that standard.
The bond market is all that could be
wished for and this of itself is an indication
OF the times worthy of special note. When
bonds rule at premium which minimzes
the returns, stocks are likely to find pur-
chasers at least up to a per cent basis
The weekly bank statement again reflects
the government payments on account of
the Union Pacific bonds an increase Of
over 100000 in lawful money being the
natural result of these transactions. The
loans are nearly S2,0OO,00O larger as the
result of the usual January disbursements,
ana the increasing interest in speculation
The two changes noted bring the deposits
up something more than $10.OOOUOO and
the surplus is increased Sc 415 S25.
This latter increase brings the total re-
serve holdings of the local banks I'D TO
S22,264,bI5. This showing removes TO a con-
siderable degree the customary apprehen-
sion as to the course Of the money market
Easy money and the dearth of scares
from the various legislative assemblies are
factors working directly in the interest of
the present market.