Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-05-23
FINANCE AND TRADE
Stocks Were Buoyant Under Leader
ship Of Industrials.
TOBACCO AND SUGAR ADVANCE
Railway and Traction Shares Also
in Good Demand.
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch to The Evening Star
NEW YORK, May 23-Today's stock
market was generally strong under the in
f1uence of special strength In the industrials.
An advance of 10 per cent in refined sugars
was met by the Independent companies. and
the action was taken to indicate the pres
ence of working agreement even though a
more substantial unity of interest may be
lacking. American Sugar rallied and held
remarkably we'll. in spite of official denials
that any new developments were pending.
The stock was in demand by the short
interest and some good speculative buying
IN the long account was also noticeable.
Manipulation helped the advance. and in
some quarters traders were deferred from
buying other stocks by the fear that the
pool in Sugar might abandon the advance
and force a general decline in all parts OF
the list
American Tobacco was in active demand
by both accounts and rallied easily All
or the tobacco companies improved in price
and We're active features OF the days trad
ing.
The announcement that the court had dis
charged the receiver of Third Avenue was
taken as a favorable development appli-
cable to the entire traction situation The
buying Of Brooklyn Rapid Transit was at
one time very urgent. and the stock was
not In very liberal supply The move
ment in the traction group was. In the
main, professional, and is not expected to
get any considerable Roadway.
The railroad list was strong at times but
little new business was reported in that
department. The news of the day did not
concern the railroads quite so intimately as
1t did the industrial shares named but the
same unwillingness to sell long stock was
in evidence as on previous days.
The engagement of S125O.OO0 gold for
shipment by tomorrow's steamer failed to
attract speculative attention. The outflow
is not the result of natural commercial
forces operating against this country, and
Is therefore of little moment.
Earnings were generally satisfactory and
investors have no cause for apprehension
on this point. In few instances the dis
cuSsion of future dividends is more conser-
Vat1ve and material increases are in doubt.
The falling off in traffic in certain sections
has failed to make much of an impression
on the market. owing to the failure of the
room to force out strong box holdings. The
by interests already identified with the
properties. This fact is encouraging, but
it does not preclude lower prices 1t pre-
vents unlimited selling by the room and
thus gives stability to the general list.
The grangers reflect much difference OF
opinion as to their natural tendency but
the double movement serves to hold them
steady around current prices. The move
ment in the Industrial department is now
holding prices in the railway list and the
interesting problem is to determine what
effect change in the movement OF the
former would have on the latter. Shrewd
judges think 1t would fall fiat, lust as
everything else has OF late.