Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-05-10
FINANCE AND TRADE
Steadier Tone to Stocks on the
New York Board.
CHECK TO DOWNWARD PRICES
Recovery Most Noticeable in the
Industrial Issues.
GENERAL MARKET REPORTS
Special Dispatch TO The Evening Star.

| Special Dispatch 10 The Evening star
NEW YORK. May 10.-Higher London
| prices. extending TO gains " N per cent in
some instances. easier money az Berlin ami
new interest in Americans ut that center.
We're factors OF some Significance in the
| local stock market this morning Foreign
| houses were credited with purchases Of
over Jo.Wo shares OF stock. mostly Atchison
ana Union Pacific issues. This attitude on
the part Of the foreign interests had a
tendency TO confirm certain local suspicious
that the recent selling had been somewhat
oNerdone. In consequence of this view
short stock was bought In Immediately
after the opening and traders changed their
position to the long account for a turn.
interviews of a most pessjmistic char
acter circulated yesterday the most ac-
1--WE periods Of depression were repudiated
TINS morning by at least two OF the most
important interest in the street. General
conditions were again offered an offset
to all theories of a speculative collapse at
this time.
Nothing new was developed, but the lead
ers evidently saw the wisdom of suppress
ing an unintelligent sacrifice of securities
petore the movement extended beyond
bounds.
The selling of the last two DAYS was halt
ed OPPORTUNITY, even though the reasons
Ter the selling were sound. At no time
even when stocks had fewest friends. were
there any positive arguments against i'm
provement, except such deductions as were
made from fears of what might happen In
| the future
The existence Of the fear NAV operatp
| as repellent force to the obi Act of e. and
"lid speculation may give way to a more
rational market movement
mere can b. no doubt that the public has
| hquldated heavily, and for this reason a
pio,esslohal and manipulativ4 market is
| Ekely TO Intervene between now and the
| next important campaign for the advance
| meanwhile underwriting syndlcates pools
| cllques and the leaders Of financial fads
| generally may be relied upon TO protect
| their interests from further hostile attacks
| Railroad stocks OF the standard pror,er-
| Ties are likely to be more sought after than
| heretofore and the lesson of the last few
DAYS may be Needed long enough to have
| the industrial issues lose caste az leaders
OF the market
| me advances in tOday's market were
largest In the Industrial department partly
because OF an inside demand and largely
because recent sales for the short account
hau been heaviest in that department Man
| haitian, Brooklyn Rapid Transit. PeopIe's
Gas. Federal Steel and other wefl-known
issues all advanced easily under a MIXED
demand.
The better class OF divldend-paying shsres
We're said 10 be well taken during the after
noon ana prices recovered substantially
sentiment toward the end of the day was
more hopeful than for several days past.
The hearing on the franchise bill is re-
garded as an event likely to be reflected in
the market but IL is quite possible that no
general depression will be recorded during
the balance of the week Some strong men
are now holding what weaker ones refused
to keep in the presence of tenDorarv adj
verse circumstances.