Evening star. [volume] (Washington, D.C.) 1854-1972, 1895-05-17
FINANCE AND TRADE
Caution Characterizes Speculation
in Wall Street.
CHANGERS THE PROMINENT FEATURES
Continued Buying of Whisk,
Trust Stock.
GENERAL MARKET REPORTS
Special Dispatch to The Evering Star.

Special Dispatch to The Evering Star.
NEW YORK. May 1.-THE early trading
in today's stock market reflected some hes
itancy on the part of the trading element
to continue purchases at the present level
OF values. Lower prices in London, and
some selling orders in this market, were
responsible for the cautious character of
the first hours transactions Prices did not
yield materially during this time, however,
the only result Of the above conditions be-
ing somewhat restricted volume of bust
reSS. Finding reactionary tactics unayail-
ing prices We're bid up later i'll the Gay for
substantial gains in all departments.
Inc Changers We're the most prominent
features of the regular list, and were ad-
Vanced on good purchases for both invest
ment and speculative account. Advices
from the west are uniformly encoura gng
and evidence of prosperity in that section
is daily multiplying. The large short in
terest in Northwest, accumulated during the
long months of large decreases has been
steadily reduced during the last few days
as the result of such rapid Improvement as
to warrant the assurance that the next
dividend of that company will be paid at
the regular rate.
The stock advanced well over par on pur-
chases, in which both accounts were rep
resented. Burlington added l per cent TO
initial figures, the announcement that the
regular l per cent dividend had been de-
clared aiding the movement
good demand at liberal advances.
Among the specaIties Tennessee Coal and
Iron and Consolidated Gas were conspic-
uous as the result of a preponderance of
buyers.
Sugar opened strong at fractional ad-
vance, and subsequently gained | per cent
on purchases by friends of the property.
This stock has probably more figures TO
substantiate its recent advance and eX-
plain its maintenance of the same than any
other industrial IN the list.
Distillers was strong at gain of l per
cent, due to continued purchases by brok-
ers identified with the movement so con-
spicuous during the early part of the week.
There was some irregularity in other parts
of the industrial list, but no significant de-
VelopmentS were rep . l.
The tone of speculation during the after
noon reflected return of confidence among
traders. and brought out a new supply of
commission orders The market is appar-
emily sensitive to nothirg but the most op-
timiStic features of the Situat ton, and stub
bornly contests every attempt at depres-
sion.
1t is therefore not unlikely that the sold
out bulls composing the reactionsts' party
will again be induced to abandon their eff
forts and join the triumphant element.
The effect of the Supreme Courts dec-
sion on the income tax cases, now gener-
ally conceded to be against the validity of
the law, is variously construed by bankers.
The best opinion seems to be that If con-
sidered at all the announcement will be as
it will undoubtedly be in popular es-
tmation. Final figures were generally the
best of the day, as the result of good out
side demand.