Evening star., 1899-06-02
Better Tone Noted in the SsoaG
Market Today,
PROSPECT OF DIVIDENDS
Bears Fail to Make Capita Out Of
Gold Exports.
GENERAL MARKET REPORTS

Special Dispatch 10 The Evening star.
NEW YORK. June 2.-Without materially
changing the volume of business. the ,.ar.N
trading I'm today's stock market rcflrct,I
a better demand for tho recently aclils
speculative issues. The premium on a fcw
issues was instrumental in forcing an u-
qury against recent short sales I1pr.Ipn
was disposed to buy prudently IN the AIMEE
lean department. and the export OF mil
lion OF gold from this side had no -fT,cr an
snecula tive sentiment
The exchange market was luc'irrd % r-r-
cede from the gold point. but since the situ-
alton Is scarcely normal il is diftlcul ,p q. d.
nitely fix The exact point at which s;,s.t.
must he sent out. The opinion of the most
experience ii bankers is that no significant
movement is likely. and tha; present -pult-
tions are to degree artificial
An argument which is just now operating
to stay sales. even though It may not en-
courage the conservative to buy - the ap-
proach OF dividends on Sugar and tho new
Steel stocks. The foIm,r is expected 10
pay its usual rate. but the question Of the
period in which it was earned Is doubtful
The surplus is more likely TO he the source
CT supply than the trade or business OF the
company during the current quarter
This fact may be Of temporary import
ance. however. as the cause uf appreciated
profits, the trade fight may be eliminated
before another dividend period clapseS.
DIVIDENDS ON the steel issues will he novel
ties, and unless accompanied with eNplaua-
tory reports may be considered as merely
speculative cXpedicnts.
In the regular department dividend. ON
w eStern Union, AtChcSon prpfprr,ad and
Cnlon Pacific preferred are in prospect
The market SHOW i its appreciation Of
tEls outlook during the entire forenoon, AMI
SOfne substantial recoveries were recorded
under a mixed demand Much of the ad-
Ncrse criticism OF the market has been
eliminated 10y the rtadjust tmcnt OF prIt,,.s
curing the last few weeks The market may
slrk, but 1t cannot fall. The top-hssviness
mas been displaced, and the neral market
Is IN better position to profit 10y changes ia
general conditions. II would be- reasonably
certain that a fair proportion of th,s.
changes would be beneficial in their results
1t is TOO early to determine the exact
nature OF the weekly bank statement, hut
the indications are that IL will bs favor
able. The money market Is not a deterrent
to improvement. but the prospect ~ IL not
being Is a considerable help 10 market ad-
vancement. The trading during the last
hdlf OF the day was narrow but steady.
The advances recorded on th,. early coy
ering gave way slightly at times, and stock ks
bought by traders We're sold 10 take profits.
he rally had good effect on sentiment.
however lnaSmuch the lack of elasticity
in the general list had resulted in some dis
enlargement among certain holders JG
stocks.
The halt in the decline and the complete
change in the attitude Of some Of the lead
ers should at least result in "A less one
sided market than that which has recently
prevailed. Certain sDeCialties are likely to
be exploited from time TO time. and the ad-
NanceS are not at all likely To be uniform
Haste is to be guarded against until tn.
probationary period of the market has ,A-
tended beyond its present limits.