The times. [volume] (Washington [D.C.]) 1897-1901, 1900-06-01
A BETTER TONE IN STOCKS
The Market Improves on Advices
From South Africa,
Further Favorable Conditions APP
pear in the Pending settlement
of the Sugar Har-Railway List
shows Decided Strength - Gains
in IndustriaIs and Spccialties.

NEW YORK, May 3l.-There was very
decided improvement in stock market con-
ditions today, both in respect to tone and
animation. AS was to be expected, this
mornings advices from South Africa were
reflected in fairly buoyant stock market
in London, Americans participating fully
in the general rise in prices there. The
advances in consols and in the Rand
stocks were naturally relatively the most
extensive. The dealings here for foreign
account, though on balance on the buying
side were not SO extensive as had been
expected, the total purchases being little
over 10000 shares.
Partly on account of the limited foreign
buying orders, the volume of which was
accounted disappointing, the local market
reacted after opening at common and pro-
nounced advances, but it developed re-
newed strength with the course of the day,
with a moderate increase in outside in
terest apparent.
In addition to the virtual collapse OF the
African war, speculative sentiment was
strengthened by the settlement of the diff
culties in the local gas situation, and 1t
was further favorably Influenced by the
belief that the protracted and disastrous
contest in the sugar trade was also draw
ing to an end. AS has been the case
heretofore, there was no other confrma-
tion of the rumors to this effect than was
furnished by the further advance in re-
fined sugar today, the latter being par
ticipated in by all of the competing in
terests.
In addition to this substantial fact, how
ever. rumors were persistently current
throughout the day that material progress
was making in the work of settling the
so-called war, and in the instance of a
stock like Sugar Refining, rumors are
equally effective in the market as facts.
Under these circumstances, Sugar Re-
filming was naturally the conspicuous fea-
ture of the days dealings, although inter-
est was very we'll diversified. Indeed,
there were few quarters of the market
that did not share in the improvement.
The trunk lines stocks, and notably New
York Central, were stronger and more
active than for long time. Material adj
vances were scored also in the granger
shares, the Pacific issues, Atchison pre-
ferred, and Louisville and Nashville
Particular interest attached to the deal
ings In Atchison preferred on eccCunt of
the Forthcoming action of the management
on the dividend i'll the middle of the next
week.
Among the specialties. the conspicuous
features were Peoples, Gas, Tennessee
Coal and iron, Colorado Fuel and Iron, and
Brooklyn Union Gas. All the steel in
dustries were also strong on the more
encouraging and apparently trustworthy
statements to the effect that there was
already appearing substantial recovery
in the iron and its allied industries.
The most important news of the day
was of course that in relation TO the
virtual ending of the war in South Africa.
This was supplemented by very little apart
from the statements of railway traffic
submitted and the further weakness in
foreign exchange The money market, it
10 hardly necessary to add, was unrufied