The times. [volume] (Washington [D.C.]) 1897-1901, 1900-05-30
BETTER TONE IN TRADING
The Dealings. However, Rather
Restricted in Volume.
encouragement Received From Lon
don, where Prices Advance i'm EN-
pectation of the Speedy Terminn-
ton of the Wnr - The Railway
List Displays Noticeable Strength.

NEW YORK. May 29.--The dealings in
todays stock market continued rather re-
stricted in volume, but the tone of the
trading was moro confident than it has
been in quite a long time. Some encour-
agement was derived from London, where
American stocks advanced in common with
the general market, the rise being ap-
parently based upon the reasonable ex-
pectations that there will be an early ter
mination of hostilities in South Africa.
The London market appeared to be undis-
turbed by the rumors that the-Rand mines
might be destroyed by the Beers prior 10
their evacuation of johannesburg.
On balance foreign houses bought up
ward of 10000 shares of stocks here, the
larger part of their dealings being in
Northern Pacific common. That stock was
o notably strong feature of the railway
list and 1t advanced along with Atchison
preferred on the favorable expectations
entertained regarding the action upon the
dividends on both stocks early next month.
Opinions still vary. and definite informa-
ton is still unobtainable as to the rate at
which the dividend on Atchison preferred
will be fixed but il is commonly assumed
that Northern Pacific common will be put
upon a regular per cent dividend basis.
The granger shares were also particu-
larly strong, notably the Chicago. Bur-
lington and Quincy, but there was little
aside from what may be called the invest
ment position of those stocks to account
actively dealt in and in the early dealings
the stock broke rather sharply, but it
subsequently more than recovered its in
1tial declines. Nothing definite or au-
thentic attended the somewhat erratic
movements in this instance. Other strong
features Of the railway list were Union
Pacific Louisville and Nashville, and New
York Central.
There were a number of noteworthy adj
vances among the industrials and spe-
cialties. In the first named group Sugar
Refining, United States Leather preferred
and American Steel Hoop were conspicu-
GUS.
While the buying of Sugar Refining was
as might be expected, attended by the
usual rumors that settlement of the
trade war was in progress, 1t seemed for
the most part owing to expectations that
the dividend to be acted on next week will
be declared at the same rate as that made
at the last quarter, owing to the pro-
nounced improvement in actual trade con-
ditions. Peoples Gas and Tennessee Coal
and Iron were also decidedly strong, with
nothing new attending the course of either
stock.
To some extent, probably. the strength Of
the general market reflected the covering
of short contracts incidental to the sus-
pension of business tomorrow over the
Decoration Day holiday, as by Thursday
morning it would appear not unlikely that
the occupation Of johannesburg by the
British forces may be announced.
Today's situation of itself comprised
nothing new. A number of excellent re-
ports Of traffic returns came to hand, the
foreign exchange market was weak to an
extent which precluded the possibility OF
profitable shipments of gold this week
and money on call was readily obtainable
under per cent. The rather more cheer
full tone evident in the days dealings was
In some quarters referred to the near ap-
proach Of the Republican convention
which, according to the theories of the
Wall Street professional element. should
be favorabiy discounted in advancing
prices.