Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-05-31
Railroad Shares Improved Today on
Advices From London.
SUGAR ALSO MADE GAINS
Considerable Realizing Took Place
at the Advance.
GENERAL MARKET REPORTS


Special Dispatch to The Evening Star.
NEW YORK, May 31-The approaching
collapse of the Boer war foreshadowed in
| the news from Pretoria had beneficial in
fuence on stock prices this morning. Lon
don sent over a range of prices rejecting
gains varying from u to q per cent. but as
was to have been expected. speculative en-
thusiasm found vent in mining or home
securities. The local improvement attract
ed realizing sales in considerable volume
and for a time the good news seemed likely
to pass without permanent influence on the
general market.
During the noon hour, however. there
was a better demand and the entire mar
ket. especially the railroads, showed a will
lingness to respond to any increase in the
demand.
The Pacific stocks and the grangers,
notably Atchison preferred, made substan-
tial strides in the direction of Improvement.
Earnings were moderately good and crop
prospects encouraging. Dividend meetings
during June will attract interest mas
much as some favorable changes in present
rates are expected.
The public may not come into the market
Immediately as the result of political I'M
certainties. but once the conventions are
passed something sufficiently definite to
revive interest in one account or the other
is likely. Just now commission houses are
disposed to take the view that present dull
ness will be relieved by an advancing mar
ket. An advance in refined sugar Of 10
cents per hundred pounds was announced
| this morning by the American company,
the rival companies meeting the new rate.
The recent succession of advances has
resulted in advancing the margin between
the raw and the refined product to some
tfing over 10 cents per hundred pounds.
| This Improvement in rates is regarded as
cumulative evidence of the existence of a
strong compact between all the important
refineries. Should this compact eventually
result in the American company absolutely
debating the policy of the refining business
ii would occasion little surprise. The stock
was opened up to 100 this morning, but
profit-taking forced it back from this level
Considering the sugar war as settled, at
least to the extent of substituting. profits
| for losses, the gas war equally well n
| hand and British success assured the
stock market has done little with its oppor-
tunities. The public is not interested. and
| the men with the capacity for leadership
are not in town. The latter fact detracts
nothing from the good done, but it does
delay q proper reflection of it. The money
market shows how difficult it is to employ
| money to good advantage. and unless APP
prehension is increased by some radical
suggestions in the political platforms, idle
funds should come into the security mar
ketS
Foreign exchange rates suggest no i'm
mediate danger of further gold exports.
and there may be a return movement at a
much earlier date than but recently seemed
probable. Advices from the iron trade are
| more hopeful and inside buying may come
into the market for Steel stocks. The pub
lie, of course, will refuse to be Interested
| in this group until 1t is advanced or 10
per cent. The trading during the final
hour relapsed into dullness and some ir-
regularity prevailed. Traders took profits
| on previous purchases and some selling for
a time was reported. The room is in
| clined to the opinion that the market will
swing within very narrow radius for the
next few days.