The evening times. [volume] (Washington, D.C.) 1895-1902, 1901-05-28

The Stock Market was of no significance
whatever this morning except II the IN
dustriaI speciaItIes. Following the de
clines of yesterday the tendency during
the first hour or more was for a rally,
but business was small, and the advances
made by the railway securities were only
fractional for the most part The boom
ing Of the tobacco securities and AueTi-
can Car and Foundry in such q market,
much as il may be argued that these ad-
yances are justified by conditions. indi-
Gates very clearly the professional char
acter Of the buying and selling As
mater of fact there is almost no public
buying. ard very little indeed of buying
for large interests Such being the con-
ditions and the summer being near at
hand there are many shrewd people that
look for a decline for the next important
movement. They advise the purchase Of
stocks only on sharp declines For the
present the traders market is likely to
continue, IL IS thought, no matter which
way the latter movement nay be.
Money is easy. There is the prospect
Of further gold exports this week There
was nothing in the way OF news TINS
morning to stimulate the market The
particularly foggy idea that ths Street
had regarding decisions Of the Supreme
Court yesterday had given way TO a bet
ter understanding this morning The
Street opinion had been in q general way
that a decision in favor OF he Govern
ment would be for the good Of the Stock
Market. and that q decision against the
Government would injlre the market The
Street holds that the Government has
been sustained and therefore considers the
decisions favorable
The Tobacco securities all had sharp
advances American Tobacco went to I59
and a fraction early IN the day. and Con
tinentaI Tobacco, common. advanced two
points or more at the same time One
Of the new rumors this morning was that
there is TO be union Of these two con-
Germs by an exchange q securities. They
nave been operated in entire harmony at
all times, being controlled by the same
people It i pTOba bic that il there is any
important actual buying Of the stock, it
Is due TO earnings and dividend pros
poets and not TO any such rumor.
American Car and Foundry. common
and preferred stocks, both had phenome-
nal advances this morning to new high
prices The common went almost 10 q.
and the preferred almost to 81. the gains
in each case being for two OF more points.
Careful people have been quoted as IA
vorable TO the purchase Of these securities
~
ing fine showing Of earnings. and there
IS the possibility Of an increase in tbs.
dividend rate on the common stock from
z per cent per anEum to 3 or per cent
in the near future.
The Atchison securities were buoyant
during the early trading The common
sold ex-diyideHd u per cent. and soon re-
gained part O the dividend The report
Of the company showing SIS. ggJOgJ net
earning for ten months and g 10000 for
April Is such as fine exhibit that il is
not surprising there should be people viii
ing 10 buy the securities. The preferred
Is considered an excellent Investment Dur
chased below par, and il seems entirely
likely that II may be advanced to 10 in
the near future
Louisville and Nashville. too looks 10
be good buyer around 100 to 10. on the
TecCssiOns- The stock Is well established
on a . per cent basis and is likely TO GET
Q per cent IN the near future
The story that the Morgan interests