The times., 1901-05-30
SENTIMENT MORE BULLISH
General Advances of Importance in
the Stock Market.
London n Strong Buyer of American
Securities-On This Side Important
Interests said to he Purchasers
The Northern Pacific Situation.

The Northern Pacific Situation.
NEW YORK. May 29-The lettering
conditions apparent in yesterdays stock
market dealings were renewed today and
a fairly general advance in prices was
recorded Among the directly influential
circumstances in today's situation of nov
city, there might be mentioned the salts
factory action of the Cuban convention
upon the s9-called Plat amendment and
the favorable disposition Of the dealings
in this market for foreign account.
Although a very limited interest in
American stocks was disclosed in the
fortnightly settlement upon the London
stock exchange. foreign houses traded in
this market to an unexpectedly large eX-
tent, and Oh balance were purchasers Of
upward of 50000 shares. The satisfactory
progress OF the settlement in American
stocks was cited as one OF the main
causes Of the London buying in this mar
ket
Owing to the ease in the local money
market scant attention was paid TO the
rather heavy engagements Of gold for eN-
port and at all events they could not be
cited as an influence OF any weight in
the dealings. A further increase in COM
mission business was noted and the re-
vival of speculative confidence which has
been apparent for the past day or two
was again evident. AS was the case yes
terday. also. il was plain that the partic-
ular strength and activity appearing in
certain stocks again carried no little
weight in shaping sentiment, as pres
aging further deals in the railway world
of the same character as those which did
so much to excite speculative enthusi-
asm a few weeks ago.
although, measured by the standards Of
activity which prevailed prior TO the
stock market panic the market could not
be described as really active, the trading
was nevertheless by no means wanting in
animation. There We're number of par
ticularly rapid advances scored in the
railway list. Conspicuous features were
the Atchison issues and Pennsy Ivania,
and the simultaneous advance in these
stocks naturally revived the rumors re-
Gently current that the Pennsylvania was
acquiring a substantial interest and rep
resentation in the Atchison system.
a material advance in Southern Rail-
way common and preferred was another
feature Of interest in the dealings, but no
special news or gossip attended the move
ments in those stocks. Other material ad-
Denver and Rio Grande, New York Cen
trail. and Union Pacific. The advance in
the last named was possibly in part ow-
ing to the success of the company in OBJ
tanning a stock exchange listing for the
new Sl00,0e0,e00 per cent convertible
bonds.
AS has been reported for some time
past, the Northern Pacific stock which |
was presumably purchased in the interest /
of the Union Pacific did not figure among !
the collaterals placed under the new loan |
The real status of the Northern Pacific +,
affairs stin mystifes Wall Street. even at |
the present stage of the proceedings
Through one of those singular shifts in |
opinion Characteristic of the street, the |
belief appeared to prevail today that the |
control Of the Northern Pacific property |
still rested in the hands OF the original !
parties in interest
Active dealings continued in the Wabash /
issues, but little was done in Lacka- |
wanna Reports We're current today that !
the virtually controlling interest in the !
latter property had been offered a price |
for their holdings materially above the /
market level, and that the proposition in I
question had been made in the interest of /
the Gould railway properties There we're /
no other movements in the railway list /
calling for detailed comment.
The United States Steel issues, - suir- /
tied advances, were the leaders of the 1
industrial quarter Of the market. Foreign /
these stocks, but nothing in particular
could be adduced in connection with the |
in them aside from the bet
tering prospects for an early settlement
0f the prevailing labor troubles.
In the speciality quarter of the market
he strongest feature was General Elec-
-ric, and the movements otherwise there
we're limited and irregular. and nothing
IF particular interest resulted from the
dealings in the local traction stocks.