Evening star., 1898-10-25
Stocks Were Strong With Consider.
able Demand in New York.
EUROPEAN MARKETS DEMORkLIZBD
The Changers and American Tobac-
co Led Local Advance.
GENERAL MARKET REPORT
Special Dispatch to The Evening Star.

Special Dispatch 10 The Evening Star
NEW YORK, Oct 25-Foreien politics
ana advancing rates fer money I'm London.
Berlin ard the continental centers resulted
III heaNlEess and semi-demora lization in all
'he foreign markets this morI ing Consas
were depressed for time. but rallied per
cent later IN the day and helped to restore
more rational trading in all departments
developments at Paris are anxiously await.
ed IN financial centers because of the grayi.
ty of the questions involved
The local market is Obliged to considos
these influences, but as yet it has maintain.
ed an Indifferent attitude so far as whole,
sale lqiidat;or or frightened selling IA
ccrcerned. The room sold stocks yesterday
on the Supreme Courts decision in tho
Joint Traffic Association case. Today tho
same stocks We're bought back at higher
prices. Spectators may have been sur.
rrised at the result of this contention be-
tween the railroads and the government,
hut the officials Of the roads concerned were
not.
Rate cutting was in progress months be-
lore the court reached its conclusion. and
there was little regret that an assoc.ati n
lacking IN the loyalty necessary to the Sl:c-
cess Of its object should be summarily dis
banded by the courts verdict Since .hs
trans Missouri decision western roads have
managed 10 live and pay dividends, ans IL
Is highly probable that some Legal expp-
dient Will be discovered for the good OF fhe
eastern reads. The lack of desire 10 sell
loTg stock in any considerable volume
would seem TO reflect confidence IN this
view.
Earnings are coming in up to and beyond
expectation. st. Paul's report for the third
week in October shows an increase OF SaT.-
SD southern reports a gross increase for
September of S2J9.41, and a net increase OF
NllI .253. Northern Pacific gross for Sep
temher increased S2,So4,I19, and net in
creased S21uUUO
Railroad stocks we're strong throughout
the day. The short interest covered lib
orally and some buying in anticipation ot
a speculative advance accompanied the
Il movement. The granger shares were cN-
ccptioaally strong, and the Flower issues,
particularly Atchison preferred. reflected
confidence in higher prices toward the END
of the year.
A sharp decline in Pullman Car stock
n ay be noted among the developments OF
the day.
The largest trading Of the day was in
American Tobacco, the price advancing
about > per cent under the combined in
tluence of covering and new clique buying.
reaction of per cent was accomplished
upon the announcement of the incOrpora-
ton of the Union Tobacco Company. with
a capital Of $loooacO0. This announce
ment served merely to arrest the advance,
tine buying subsequent to the reaction be
ing the best Of the day. The manipula-
dicted price OF lIn seems within easy reach
for the weeks record. As is usual, thu
customary announcement of settlement
of all differences inspired the advance.
Sugar. Peoples Gas and the industrial
list generally, reflected the strength of the
active representative Of that group. The
undertonG Of the market was decidedly
firm during the afternoon in spite of mod
crate profit taking. Two weeks of cam
paigning remain, during which reactions
may be freq lent, but should confidence in
the result of the vote keep up to its present
level the declines are likely to attract lib
Cral purchases.