The times. [volume] (Washington [D.C.]) 1897-1901, 1900-06-04

NEW YORK. June 3.-The street looks
forward to the coming week in the stock
market with much hopefulness. The
movement of the market during the past
week and the overwhelming character Of
the recent news, to the bears, seem to
presage a continuance of the advance. A
number of the items in the situation have
been of extreme importance marketwise.
Together it was seen last week that they
were likely to cause a panic among the
bears and fine boom in prices.
So much for the immediate future Of
the market land the believers in such a
boom are becoming more numerous every
day.. But the wishes for higher security
values are beginning to suggest that
temporary advance, say until the Republic
can Convention, is not all that should be
expected.
There is a growing impression that the
issues of the campaign have been to-a
great extent discounted, and that with
the return of peace in South Africa, the
opening Of the mines whence England
draws 60 much of her gold supply, the
expansion of the currency which is result
ing from the new law now In operation,
and the return of the prices OF the indus
trial products toward the normal there
will result an expansion of business enter
prise, the restoration of confidence and
resumption of industrial and commerclai
activity throughout the country. Inc
stagnation which was predicted for the
summer has taken place only in moder-
ate degree, and upward movements in
stocks are now generally expected during
the coming season. The public has some
what recovered from its apathy and
eyinced some disposition to trade in
stocks during the week.
Henry Ciews, the financial writer, says
of the market situation:
The stock market, though dull, shows
unusually good resisting qualities. Two
important failures have recently occurred,
causing, however, scarcely ripple on the
stock exchange. The fact is, so few stocks
are held in weak hands that there is little
opportunity for liquidation, either forced
or natural. Short selling only seems to
furnish fresh basis for the rallies seen
from day to day; and, while the market
displays no pronounced tendencies, it is
quite plain that efforts for the decline
promise little success. Strong interests
which do not intend to permit any i'm
portant reaction are still under the mar
ket, even il they do not consider the pres
ent an opportune period for starting
vigorous bull movement
Inc money MARKET CONTINUES III d GULL
dition favorable to operations for rise.
Bank reserves are increasing; there is
less prospect Of the Treasury injuriously
absorbing funds; and the special demands
for accommodation which resulted from
financing the big trusts and consultations
last year will not be factor this summer
or the coming fall. The demands from
commercial borrowers may show some in
crease later on: but the monetary out
look in general is for continued ease,
especially since the close of the African
war removes one Of the chief incentives
for gold exports.
Balancing the various conditions for
and against the market, We are inclined
TO take a favorable view of the future.
Some stocks may show occasional tenn
porary weakness, but good securities will
prove purchase on all decided reactions.
Two important disturbances, the gas and
sugar wars, are out of the way, and this
will remove what has been serious OBJ
stacles to a better market"