Evening star., 1899-04-15
Strong Tone to the Stock Market
Today.
COAL ROAD SHARES TIE FEATURE
Some Question as to the Grain
Crop Prospects.
GENERAL MARKET REPORTS

Special Dispatch TO TIE Evening Star
NEW YORK, April I5-Today's stock
market was strong in tone Notwithstanding
considerable lrregularity in a few issues
London sent over a slightly higher range of
prices and some buying for foreign account
was reported. The railroad list was given
excellent support. but the coal stocks were
the only noteworthy features in that de-
| partment. The buying Of the coal shares
was similar in character to that heretofore
noted and reflects the determination OF the
larger interests to keep this group well to
| the front in an active market
The grain situation is still one of the
doubtful features of the market and al
ready the usual differences of opinion on
| the part Of the crop experts are I'm evidence.
Inc railroad officials generally are reported
as believing in only very slight net de-
crease In the volume OF prospective grain
traffic. An increased acreage is relied upon
In certain sections to Offset the damage oc-
casioned by the severe winter but this view
Is the one concerning which dissensions are
most pronounced.
In the case of Atchison, however the
larger interests are not disposed to allow
the crop prospect to interfere with their
purchases.
In the Industrial department there was
considerable activity during the day. which
reflected some new business and a liberal
volume of proft-taking
The advance in Tennessee Coal and Iron
was well sustained. and served to revive
interest in similar issues which have been
more or less neglected OF late Colorado
tuel and Iron, for example was advanced
Sharply under demand inspired by the be-
iet that 1t has been selling below its rcla-
1--WE II not its intrinsic value
The ease with which the advance was
MADE is an indication of a lack of pres
sure to sell, and any activity In the stock
should naturally be at considerably higher
prices
Manhattan was strong although its sud-
den advances failed to hold Under nor
mai trading the price was maintained
above yesterdays closing level during the
stocks were firm and the steel and iron
Issues gave evidence of being bought in the
interest of accumulation.
The bank statement makes a very good
showing as was expected. The gain In
lawful money is about 81. S31, 900. which is
considerably larger than was generally ex-
pected. The loans have been reduced to
SlO,355,OO0 as the result of recent liouida-
ton, and this fact is particularly encour-
aging, IN view of recent oVer-borrowfnp
throughout the speculative community,
me rally in the stocks Disseminated
against would indicate that a considers HE
volume Of cash business has been done IN
them or the borrowing done through in
sutuuons not represented in the associa-
ton OF banks. Both views are entitled
to consideration. The deposits have been
reduced in consequence of the payment
OF loans by $6.4S6.0o0, and ths net result IS
reflected in the surplus reserve which Is
increased 81 452, 200. The total surplus re-
serve beyond legal requirements is now
SlS, lo25, an amount which suggests an
abundance of money for all legitimate uses
at relatively low rates.