Evening star., 1899-06-24
Good Demand for STANDARD Railway
Stocks Today.
BETTER TONE TO GRAKGERS
Belief That the Period of liqui-
dation is Over.
GENERAL MARKET REPORTS

Special Dispatch to The Evening Star.
NEW YORK. June 24.-The tendency
toward Improvement in prices was more
marked in todays stock market than I'm
any of Its recent predecessors. The stand
ard railway issues were in good demand
and advanced easily in consequence. The
Vanderbilt group was conspicuous for it's
strength and the increasing confidence IN
the transcontinental project Union Pa
CHIC shares. which are included In this
scheme or consolidation. shared In the i'm
provement of New York Central
In some quarters there is stu skepticisn
as to the probability OF the success of this
undertaking, and the various rumors of
new developments are set down as being
circulated for manipulative effect. Prema-
ture announcements are to be expected. but
there are excellent reasons for believing
that a very tangible basis exists for conf
dence In the ultimate accomplishment OF
the main scheme
Inc granger list was strong as the result
OF reassuring crop advices and the encour-
aging traffic in miscellaneous freight.
Liquidation having run it's course in the
standard shares. ard commercial conditions
being again promising. purchases are likely
to outweigh the effects of selling for a time.
In some measure the industrial depart
ment is similarly situated. q short account
oeing added to the list of Inducements for
an advance.
Ihe week ending today has been one of
unusual disappointment, owing to a series
of events which have tended To shake con-
ndence in the Industrial list and have dis
turbed the general market The newly Gre
| ated issues which were at best accepted for
a probationary period. have not acquitted
themselves in a manner which entities
th5m to the further consideration Of the
public.
The steel and wire episode needs no fur
ther comment, now that "a clear but uude-
sifabte record has been made.
The Continental Tobacco operation OF a
rev days ago seems to have served its pur-
pose, since the stock is again acting in
what has come to be considered it's normal
manner. Federal Steel seems to have been
made scapeSoat fer a neighbOring cor
poration, and the management is at least
entitled TO the benefit of any doubt which
may have tended 10 class Ii with the others
The suit on the injunction proceedings set
| for July will in all likelihood indicate the
action of the directors in declaring a divi-
dend on the common stock
Whatever may be the future cause of the
| market, IL is well that this weeks devel-
| opments in the industrial department have
| passed into history. known quantities are
easily provided against. The standard
shares can no longer be measured with a
| defective yard-stick of the steel wire type.
Interest. disbursements. railroad earn
| ings. cheap money and kindred material
may now be appropriately merged into the
| speculative fabric. The bank statement
| was about as expected, and its unsatis-
| factory showing had no effect on prices
The banks have lost s. ,ss.6, 900 in Lawful
| money, the bulk of IL in gold. An increase
| in loans, coupled with this change in cash,
| makes an increase of only 81 .234, 600 In the
| deposits. The net result decreases the re-
| serve Si.305. 400, bringing that item down tC
| 81, ,691, 800.