Evening star., 1901-05-31
Prices of Stocks Were Strong and
Buying Good.
ATCHIS0N TIE RAILROAD FEATURE
The industrial Group Also Showed
Considerable Strength.
GENERAL MARKET REPORTS

Special Dispatch 10 The Evening Star.
NEW YORK. May 31.-Today's stock
market opened at substantial advances over
Wednesdays closing level, and was strong
throughout the day. Londons early prices
reflected gains varying from / 10 IL. per
cent, and continental houses were liberal
buyers of a few stocks. The various SYM
dicates were rather more active In their
specialties and some slight additions were
made to the volume Of commission house
business.
The public has not come into the market
to the extent OF becoming a directing infi6-
ence, but there Is a decrease in the timidity
which has prevailed since the panic three
weeks ago. Rumors of impending deals
are being confidently revived. and some of
the new business went into such properties.
Union Pacific. for example being credited
with a further accumulation of holdings in
Southern Pacific and Pacific Mail. was the
center OF attraction All the properties in
terested in this enterprise were advanced
under big dealings The size of the lots in
southern Pacific were especially noticeable
ana lead to the conclusion that something
out of the ordinary is in progress
The Southwestern shares were active at
times, and gained in strength as the day
progressed. Missouri Pacific lead in the
activity. and all the roads to be welded
about this property found ready mar
ket. In Wabash the details are nCs suf-
hcently clear to warrant an immediate re-
sumption OF the main movement, and II is
clear that at least one faction is opposed
to the present discounting of an event
which can scarcely mature before mid
summer.
Erie issues attracting considerable
attention and there are some interesting ru-
m0rs relative to a possible contest for the
control of the property. The common stock
is attracting all the new business, neither
of the preferred shares being especially
strong. 1t is expected that dividend action
VIII shortly be taken upon one and possibly
both of the last-named issues.
Atchison Is well bought and responds
easily to the demand. The steady buying
of the common stock of this company has
attracted unusual attention. and the street
Is forced to the conclusion that, in spite
of denials, some strong eastern trunk line
is buying into the property upon a large
scale. The high priced dividend-paying se-
curities were in good demand. but the vol
ume of the sales was not large
The industrial group was steady and
seemed to reflect the strength of the gen.
eral market rather than any especially new
personal development. The market for the
securities in this department is limited.
very largely. to the professional or inside
factions. There is an effort being made to
force an advance In the fractions but
stock Is supplied on every advance
This is explained to some extent by the
admitted fact that brokers are still in the
business of evening up accounts which
were in bad condition during the panic. As
prices are reached the securities are being
sold.
The bank statement tomorrow is rather
more difficult than usual to forecast. The
banks have lost something to the SUBJ
treasury, and over AOO0,D0 in gold has
gone out Of the country. In spite of these
facts the net loss in cash seems certain to
be less than was expected on Wednesday.
Only one-half Of the gold shipped will
figure in the report, and this will help the
showing. In any event, the financial sit
uation is regarded favorably by bankers.
and there are no fears OF a stringency. II
the July disbursements do not cause some
should not be a factor in the summers
price movement.