The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-06-01
STOCKS AND noNDs.

New York, May 31.-The stock market
struggled for a while with uncertainty and
apathetic indifference, but toward the lat
ter part of the day took on more aggrf 8.
sive strength and closed with greater
appearance of activity than IL has shown
for many days past.
The impulse was upward from the open
ing on number OF influences accumulated
over the holiday. The one of widest bear
ing and interest was the reported capture
of Johannesburg and the readiness of the
Beers In Pretoria to surrender. The buy
ing for foreign account here however, did
not exceed 5000 shares, and the tone of
the New York market became reactionary
after the opening on profit making and ON
disappointment that no greater strength
wass hown. The effect may thus be said
to have been very small and momentary
unless some of the later buying was in
expectation of a more active demand for
stocks from foreign sources.
The later strength was conspicuous In
the Southwestern and Western grangers,
and is doubtless attributable to the pros
poets of the winter wheat crop. Atchison
preferred and Burlington were easily the
leaders, the former gaining and the lat
ter "a on large transactions. The strength
elsewhere in the railroad list proved 10
be in sympathy with this movement and
was not widely disseminated.
Another notable source of strength was
the demand for the steel stocks which
rose at one time from ] to points all
around. Later more hopeful views of the
trade outlook were quoted from authori-
ties In the iron trade and reports were
current of large contracts for export The
weakness of mine stocks In Berlin was at
tributed to new competition from Ameri-
can sources.
In Sugar the opening squirt was In SYM
patty with the unofficial quotation estab-
lished by restless spectators outside the
exchange during the holiday. The opening
price at 40 was the best and before the
final rally in sympathy with the other
strength in the market, the stock relapsed
to within a small fraction of Tuesdays
close In spite of the credence given to
the reports of the taking over of part of
the opposition refneries in the interest of
the American company, and further ed-
vance of 10 points in the price Of refined
sugar
The failure of the Bank of England 10
further reduce its official rate of discount
probably had something TO do with the
moderate effect of the war news on the
markets. The maintenance of the rate iat
az per cent, Notwithstanding the repay
ment during the week OF over $5,OOOtO)
loans must be interpreted TO reflect the
doubts in the minds OF the governors
over the permanence of the present ease In
government deposits helps to explain that
ease. In the case of the Bank of France,
a further gain in gold Is indicated Of near
Iy HO00000 but in confirmation OF the
foresight of the authorities in increasing
their reserves, the demand for credits has
Increased the amounts Of bills discounted
to the extent of over $4,000 900, while adj
ditional notes have been issued 10 the ex-
tent of over s30.0O0,000. A doubt Is war;
rantcd, therefore, whether the demand for
gold from Paris has yet been fully sat g
fed.
The bond market was considerably more
active and stronger. Total sales, par value
$i,735 600.
y. S. ys declined Y and the old AS *
In the bid price
The total sales OF stocks to-day were
2a6 100 shares. including: Atchison. u, l60;
Atchison preferred, 1858; Chicago, Bur-
lington and Quincy. 10000; Missouri Pa
cihc. 144l6;. Northern Pacific, 1884; ST.
Paul, 1925; Union Pacific, 10.4i0; Ameri-
can Steel and Wire, 1915; American To-