New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-06-01
BONDS.
THE DAYS OPERATIONS IN STOCKS.

London bought stocks in the local market yes
terday and on the London Exchange American
shares were strong and buoyant. Traders fol-
lowed the lead of the foreigners. covering
throughout the list and buying for turn on the
long side. In addition TO professional buying
there was moderate demand from commission
houses, while important market interests ap-
peared more disposed TO support prices. Sharp
advances Were made in many issues. sentiment
was decidedly better. and the volume Of bust
ness showed some improvement as compared
with the dulness of the last few weeks. The
end of the Boer ought TO be followed by
an active foreign demand for American securi-
ties, and in case Europe comes actively into this
market the short interest in stocks may find
considerable difficulty in making satisfactory
settlements If Europe buys heavily stocks will
go higher. And under the influence of foreign
buying local operators, through commission
houses. likely to resume a position on the
long side sof speculation. The South African
conflict has been more of a restraining influence,
so far as foreign investors have been concerned,
than have political and business uncertainties
in this country, and the fall of Pretoria may
mark important turning point in the local
and European markets. With the at end
a heavy weight will be lifted from the foreign
money market
The current month may carry prices in favor
Of the bulls while IN July the active beginning
Of the Bryan campaign may be followed by sue
cessful bear operations. A bull movement, this
month, however will depend upon the attitude
Of the public. The public is uncertain guam
tity and il viii hardly pay TO bank upon its re-
TO the market; but even If II decides TO
remain out of speculation the technical position
of the situation should insure prices against
material declines. The strength of stocks lies In
the character of holdings. Stocks are not wide
ly distributed. There are few weak accounts.
while the market is oversold and technically
dangerous for the shorts The bear element Is
confident in its position and this confidence has
frightened many people out of stocks, while it
has created impression in quarters
that stocks better sale than purchase
Further rumOrS OF a sugar settlement
that appeared to be confirmed by another adj
in refined sugar by all interests, led TO
active trading in Sugar stock in yesterday 8
market. The price advanced rapidly at the
opening, and although it lost part Of the i'm
proYement before the close, the final quotations
showed a substantial net gain The steel stocks
strong and the traction shares were well
taken. Brooklyn Union Gas displayed great
strength on the report that II would be alb
sorbed by the Consolidated Gas Company, and
the stock of the last named company advanced
in sympathy. AtchisOn in good demand
also Southern Pacific. both stocks advancing on
their show Of earnings for April. The general
railroad list not active, except the Granger
shares Burlington up over per cent. The
industrials were all higher and insiders ap-
parenty bought the steel stocks. which made
pronounced advances: also American Car and
Foundry preferred. good demand for rail-
road bonds feature of the day. The mar
ket closed strong at about the best prices.