The times., 1901-06-14
RISING And MORE ACTIVE
Fairly General Advances Made in
the Stock Market.

London Furnishes Better Prices nt
the Observation-Disclosures and Ohio
and Rock Island Enjoy the Pros
perity Union Pacific Factor.
NEW YORK. June 13.-There was a
fairly general rise in prices in today :
stock market. which was referrab!e TO a
number Of causes. Londons influence was
favorable. the security market at that
point advancing or account Of the exceed
ingly easy monetary conditions, which
We're today reflected in a further reduc-
ton in the Bank of Engiands discount
rate. while the prospects which now seem
favorable for an early settlement of the
war in South Africa We're another infu-
ence of weight.
The higher prices for American stocks
sent from London were followed up by
moderate buying orders for foreign ac-
count in this market. In addition t. this
influence, the strength of the local market
was furthered by the magnificent aEri-
cultural prospects, and a good deal Of
the buying seemed to be based on what
is likely TO be an extraordinary demand
for investment securities after the ire
mendoas interest disbursements of July 1.
The latter. beyond question. will. on that
bNtdSlpI. DE III unprecedented ANlblllt
There was a moderate increase in ac-
tivity and interest was exceedingly well
diversified. There was still some com
pIaint by commission houses of the lack
of activity on the part Of their custo-
mers, but that of Itself is by no means
an unfavOTable technical circumstance
The market generally retained firm un-
dertone throughout the session.
The general diversihCation Of interest
was reflected in the animated dealings in
every quarter Of the market. In the rail-
way list the most striking advances were
in Baltimore and Ohio, Rock Island, st.
Paul, 9 q Union Pacific. The advance
in Baltimore and Ohio was explained by
the decision favorable TO the common
stock. rendered in the suit brought by
a holder OF the preferred stock in an en-
deavor to establish the rights Of that
issue to equal dividends with the com
mon There was no particular gossip,
but beyond doubt the advance in Union
Pacific was an effective factor in the
strength Of the general market Other
firm features of the railway list We're
Southern Pacific, which was strong on
renewed runners Of a forthcoming divi
dend, Denver and Rio Grande and Louis
Vile and Nashville.
The local traction stocks were stronger
and more animaIed than for long time,
with conspicuous advance appearing in
Manhattan Railway Consolidated Gas
also was strong. which led to the idea
that there might be some favorable de-
Velopments impending respecting the stat
US Of the so-called Ford franchise law.
In the industrial quarter. Sugar Refining
and American Cotton OIL scored the most
noteworthy advances.
The United States Steel issues were
comparatively heavy apparently on the
Nrra lCfrr 90 fer
Of the control Of the Pennsylvania Steel
Company. There were a number OF eN-
tensive advances among the so-called
specialties. conspicuous examples being
Colorado Fuel and Iron. Tennessee Coal
and Iron. the SIoss-Sheffield stocks and
North American.
Other strong stocks Of this class We're
Pacific Mail and American Car and Foun-
dry. The movements and the trading in
the Copper stocks were within cOmpara-
lively small limits