Evening star., 1901-06-03
Entire Stock List Was Rather Bullish
in Tone Today.
GOOD BUYING BY LONDON
Pacific Shares and Steel Issues
Were the Features.
GENERAL MARKET REPORTS


NEW YORK, June 3.-The continued
strength in the London market and the
prospects for a reduction of the Bank of
England rate on Thursday resulted in high
er prices at that center and supplied a
good volume of business I'm the local stock
market during the opening hour An accu-
mutation Of orders over Sunday also gave
fresh impetus to the demand and strong
tone prevailed in 81 departments.
Commission houses were large buyers Of
the railroad list. and the public interest
gave evidence OF increasing. The money
situation was encouraging. and the success
of many of the railroad schemes seems TO
be assured. Indications now point to inn
portant developments which will carry the
market through the summer and dispose of
the fear that all the good news had come
out.
The Southwestern group attracted con-
siderable volume of new business, and the
belief is expressed in certain quarters that
this group will lead in the activity. The
Wabash effort to make satisfactory Pitts
burg connection seems to meet with many
delays and the latest rumor is that Penn
Sylvanfa will protect its monopoly in that
section by buying into Wabash and Wheel
ing and Lake Erie. The latter property
was well bought in the belief that some
thing beneficial was pending.
Missouri Pacific and Texas Pacific were
strong under new demand and both
stocks are getting scarce in the street. The
latter property Is certain to figure advan-
tageously in the Gould analgamation and
Is being exceptionally well bought in con-
sequence.
The buying Of Union Pacific was of the
best. and along with 1t came good in
quiry for Southern Pacific Both stocks
rose sharply and are decided favorites by
brokers in the confidence of the inside in
terestS.
St. Paul and Rock Island hold well and
are now certain to be provided for in the
COMPROMISE 10 fhprD
Pacific corner Atchison as an indepen-
dent trunk line has a unique position and
can be relied upon to take advantage of
the fact in some substantial way
The Steel stocks were very strong under
good demand. the common stock moving
up easily under buying that was rather
well distributed. The dividend on the lat
ter Is the subject of growing interest
An active buying demand for American
Sugar and an advance in rates by the COM
pany's rivals revived rumors favorable to a
settlement of the trade war. Rumors that
an extra dividend Of per cent was to he
declared helped the advance but no con-
frmation was to be had. Whatever diyt-
dend the company may declare from mo-
tives of policy 1t is well known that current
earnings could easily provide for the extra
payment.
The industrial list as a whole showed
signs OF reviving confidence The traction
issues were stronger. the buying Of Rapid
Transit being especially confident Higher
group, as the period Of good earnings comes
opportune1y with the numerous consolida-
tion rumors
Some profit taking around delivery hour
was responsible for fractional recessions
from top prices, but the undertone was not
impaired. Sentiment is in the main favor
able to further advance, and brokers are
again In sympathy with the optimism of
the average client. The market may have
frequent reactions. but the declines seem
likely to. bring in a fair buying demand
from the pools and the public.