The times., 1901-05-18
MORE IMPROVEMENT seen
Stock Market Prices and COndi-
tions Growing Better,

Interest Widely Diversified-A FH-
vorabIe Bank Statement Expected
Sugar Refining Advances sharply
Strength in the Railway List.
NEW YORK, May IA rather feature
less day so far as developments Of i'm
portance Were concerned brought with
il further Improvement i'm prices and con-
ditiuns The dealings were not in very
large volume, but on the other hand they
were better diversified than they have
been in several weeks Among the major
influences effective in the market at the
opening Of business and during the day
there might be cited the substantial ad-
vances shown in the quotations for
American stocks in London, the subse-
quent disposition of the dealings here for
foreign account and the general expecta-
tion that tomorrow's bank statement
would make a strong showing The pre-
limlnary estimates for the movements of
money since last Friday indicated that
Notwithstanding the week export of GOLD.
over s., 600 0l0, the banks have made net
gain in cash of about S6.5O0oo0.
1t was commonly expected, also, that
tomorrow's statement would show
heavy reduction in the loan account in
which case it is reasonable to look for
substantial increase in the item of sur
plus reserves. The traffic returns which
were submitted today for the second week
Of the month nearly all made exceedingly
gratifying showings, and encouraging ad-
vices respecting the agricultural situation
IN the West were received.
The fact that the differences heretofore
existing between certain large interests
in the Union Pacific and Northern Pacific
= tod
likewise carried no little influence in the
laws speculation. While there appeared
occasionally fresh outbursts of Hquidation
of the same character that has been con-
Quoted throughout the week, the selling
of this nature was by no means so urgent
as it has been previously, nor so eN-
EensiVe On the other hand, commission
houses quite commonly reported q dls-
tinct revival of the investment buying,
which was feature of the market prior
&c last weeks speculative unSettlement.
The local traction stocks, which have
been negieCted for number Of weeks,
showed pronounced strength and anlma-
tion. Substantial advances We're common
also in the industrial quarter and among
the specialties. A particularly sharp ad-
vance in Sugar Refining was attended by
reports that a better understanding had
been arrived at between the conflicting
interests in the sugar and coffee trade
Notably strong features among the In
dustrials were American Tobacco, Cont
mental Tobacco, international Paper, and
the Steel stocks. Among the specialties
material gains were scored by Peoples
Gas, Amalgamated Copper, Tennessee
Coal and Iron, and International Power
Notwithstanding the noted better di-
Versihcation of interest the railway list
again furnished by far the bulk of the
dealings. IN Union Pacific the earlier
price movements were somewhat uncer-
tain, but with the course of the day the
stock developed aggressive strength.
Other notably strong features were St.
Paul, New York Central. Missouri Pacific.
Texas and Pacific. Erie common, and the
other anthracite coal stocks
Among the less active issues. sharp ad-
vances were scored in Delaware and Hud-
son. Denver and Rio Grande, Illinois Cen
trail Minneapolis and St Louis. and
Southern Railway common and pre-
ferred Little or nothing that was definite
and authentic could be cited in connection
with the various movements in the rail-
way list The market, as a whole indeed
presented something Of the same appear
ance which il showed in the early spring
when the Improvement set in which cul-
minated in the panic