Evening star., 1901-06-13
Stocks Were Strong Under a Mixed
Demand Today.
ACTIVITY In MISSOURI PACIFIC
Decision in B. and o. Favorable
to the Common Stock
GENERAL MARKET REPORTS
Special Dispatch to The Evening Star.

Special Dispatch TO The Evening Star
NEW YORK, June 13.-The further TO-
duction in the Bank of Engiand's minimum
rate of discount to per cent and higher
prices at that center for a few American
securities resulted in a strong opening in
the local stock market this morning The
volume cf commission house business WAS
not materially increased. but the various
pools and syndicates were active in their
specialtes.
Union Pacific was advanced under a good
demand, and the professional element will
ingly Joined in the movement. The steady
accumulation of the stock earlier In the
week had attracted considerable attention.
and the more open buying today was taken
as an indication of more aggressive tactics
for the future. Southern Pacific Joined the
advance in the usual sympathetic manner.
the buying developing the fact that only
small amounts of stock were Offering.
Missouri Pacific was given excellent SUD-
port and reflected the belief that Mondays
meeting of the directors will throw some
light upon the dividend question. Rumors
that rights will be allotted to shareholders
in addition to a cash dividend were regard
ed as being at least probable. The terms
of the southwestern deal are vaguely hint
ed at, but the treatment of Texas Pacific
seems doubtful. 1t may be that some set
tlement involving a cash payment will hs
arranged.
The suit involving the dividend disburse-
ments on Baltimore and Ohio stocks was
decided in favor of the common stock A
sharp advance following the announce
ment. The decision was scarcely a sur
prise. the common stock having sold for
weeks materially higher than the pre-
ferred. The short interest in the granger
shares put out last week on the crop scare
was forced to cover during the afternoon.
Buying of mixed character started a rise
In all parts of the list during the first hour.
but the public interest was only moder-
ately increased
Pennsylvania was again a feature of the
trading, but the price was not advanced far
beyond the best record of previous days
The steel purchase helps to keep the prop
erty prominent and has given It credit -sor
buying largely into other industrial corpo-
rations. The activity In Car Foundry for
instance, is said to represent buying for
this and other big railroads. so as to OBJ
tain voice in the manufacturing Of
freight cars.
Colorado Fuel regained its late loss yes-
terday, and nearly all of the independent
steel and iron issues advanced under n,w
buying.
The Traction stocks were strong. the
buying of Metropolitan and Manhattan be,
ing especially good. Rumors of consolida-
tions were denied, but the denials had no
influence on the buying.
Western Union was more active than
usual, and the speculative pool in tnose
shares was said to be working for higher
prices. The stock was well bought during
the afternoon, and respond easily to the
demand.
The impression prevails that the MARKET
Is we'll underlined with buying orders and
that no significant decline is likely II is
pointed out the big men may not care to
assume new obligations just at this june
ture. but being already committed to high
er prices will be forced into protective
measures should the need arise.
Dullness is not unlikely to cause any con-
cern, therefore, and the return of Mr.. Nor
gan, or some similar event, may bring some
CT n1l or of a.lye h.
then lead the entire market into a mid
summer advance.