Evening star. [volume] (Washington, D.C.) 1854-1972, 1898-02-28
Bulls Have an Inning in Stock Mar.
ket Today.
SHARP ADVANCE In WHOLE LIST
War Scare Has Lost Its Effect on
Prices.
GENERAL MARKET REPORTS
Special Dispatch to The Evening" Star.

Special Dispatch to The Evening Star.
NEW YORK. February 2s.-Having spec
uleted for nearly two weeks on the proba-
Bile outcome of the Maine disaster, the local
trading element conferred its attention this
morning on domestic conditions as reflected
IN earnings and general commercial activ-
ity. As the result Of this change in the
basis Of reasoning prices were advanced
from to per cent.
Large interests became active in the buy
Ing very early in the day, and continued to
Increase their holdings until a sharp ad-
vance has been recorded in all depart-
ments. LoEdon cables reflected some jrresu
iarfty at the center. the most significant
changes being declines varying from IA to
78 per cent.
Selling orders for foreign accoun. were
noticeable during the first few minutes of
tfaolns, traders onering prices down all
around the room. hoping to force n further
recession. An absolute absence of pressure
to sell and the disposition to buy in &c, tain
Inn lential quarters caused a professional
covering movement of considerable proper
lions.
As an instance of an advance based
mainly on the covering of short contracts
the days fluctuations In Ameri, an Sugar
may De cited New York Central was adj
vanced under the influence of increa sed
dividend prospects. the buying of these
shares being especially confident and con-
sentative
The Granger issues were In good demand.
Standard Oil brokers being credited with
the largest buying of St. Paul while a con-
siderable demand for Burlington more gen.
erai in character perhaps was noted
Inc usual Monday. morning disappoint-
Hent in the matter of the courts decision
In the Nebraska maximum freight rate
case did not deter a liberal accumulation of
the latter stock Sentiment was wholly
changed, and every item of news was con-
Strued into the most optimistic phase pos
s.ble. AS a matter of fact there were no
mere reasons for today's advance than were
In existence a week ago. The same facts,
political and financial, existed then: but
sober judgment had been put aside for i'm
pulse.
The change has therefore not bean in
financial, but in individual conditions. The
temperament of the street has changed
and war talk will not avail as an offset TO
Intrinsic merit unless such talk is dignified
by being made official
Wall street has had its war scare, and in
the opinion OF many good judges went to
greater extreme in shaking off its in
ftCences than would have been warranted
by the actual confirmation of tn, most
acute fears.
Todays stock advance must give way to
a period of dizziness pending the off1cia |
findings Of the governments agents. Once
the short interest is entirely eliminated, the
buying for long account will be more con-
sentative No one seriously disputes the
significance of the boards report and once
its date of publication is announced a nerv-
Gus and unsettled market. with pro-
rounced disinclination to trade seems
reasonably certain. The absence of news
serve to accomplish today's results. Any
increase in news will find reflection in
prices according to its tenor.