Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-06-28
General Improvement in the New
York Stock Market,
com MISSION HOUSE ORDERS
Prospect of an Unfayorabe Bank
Statement Saturday
GENERAL MARKET REPORTS
special Dispatch to The Evening stnr.

Special Dispatch TO The Evening Star
NEW YORK, June 2S.-An increased COM
mission house inquiry and a further cover
ing Of short contracts forced further i'm
provement in all parts OF the railway list
this morning. London was again con-
| siderable buyer taking in an something
over 5000 shares of the better known in
ternational issues The increased offerings
OF call money at 2bs per cent and a decline
IN sterling exchange rates aided the aG-
vance and increased confidence in recent
arguments favoring higher prices
The bond market was strong and in
vestors must shortly turn TO the dividend
paying stock list in order 10 get a fair in
come and avoid high bond premiums
In view of the. holidays next week and
the prospect for an unfavorabe bank state
ment on Saturday, traders are disposed TO
contest the present advance. The evening
up of contracts over the closed period and
tne certain prospect OF further loss In
lawful money and a probable increase in
loans are about the only arguments left
to the believers in lower prices.
Bank reserves are likely to increase in the
near future, however, and the better known
foreign houses already report evidences Of
discontinuance Of the gold outflow The
crop situation is almost the only doubtful
element in the present market and indica-
TONS are mostly favorable To Improvement
in grain conditions from now on.
Some talk of an increased dividend for
St Paul during the early fan Is now being
urged IN explanation of the buoyancv In
those shares and similar reasoning is being
applied to Nashville.
The directors OF the latter property meet
during the next two weeks and are said
TO be divided between II. and per cent
disbursement. The stock is being we'll
bought. however in both the local and the
London markets. The granger list was given
excellent support at all times and the
pressure to sell was less pronounced at the
advances. All the roads concerned in the
New York Central-Eanderbilt operation
are strong, and the buying comes from the
sources which should know most of the
facts relative to the future plans OF the
system
While traders are disputing the advance
and the soundness Of the motives behind IT,
these efforts TO force out long stock are
scarcely repaid. One of the most pro-
nounced sellers of the recent market is re-
ported to have changed front solely on the
ground that his former position was de-
pendent upon artificial measures whereas
the buyer had all the natural forces work
ing in his favor
In the industrial list there was much ir-
regularity. Sugar was strong and the
steel stocks only steady. Brooklyn Rapid
Transit was frequently under pressure but
Manhattan was strong under the influence
of some absurd consolidation rumors and
the fact that the cleo urical equipment is
soon TO be Installed. A large short interest
assisted the early sharp advance
The market was given over to duIlness
and some irregularity during the final hour
but the main characteristics of the morn
ing were not changed.