Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-05-24
FINANCE AND TRADE
Strong Undertone in the
Stock Market.
LONDON BOUGHT LITTLE
BECOME A FAvoRITF
BUY AGAIN.
Good Crop Reports the Inspiring Cause
Continued Activity in
Rapid Transit.
pecial Dispatch to The Evening star.

Special Dispatch to The Evening Star
NEW YORK. May 24.-The undertone OF
todays stock market was decidedly hrmer
under limited dealings London hesitated
to buy on any noteworthy scale fearing
some hitch in the Transvaal peace negotia-
tons. The English press reflected widely
divergent news on the peace outlook, but
South African shares held well as the re
suit Of private adviCes OF a sangdine ma
turc.
Traders did little as the result " their
inability TO detect the resl purpose NJ the
important stock market interests. When
ever hint Of any definite plan was dis
closed the trading element was disposed
to follow rather than resist This was
pecially true in the case Of Brooklyn Rapid
Transit. The pool in this stock refused To
sell and fair buying demand set in In
consequence. All OF the traction issues
were strong, in sympathy with this condi-
uon. Important developments are limited
at in connection with the recent acCumula-
tion OF Brooklyn Rapid Transit. but The
public shows little evidence OF interest IN
the property.
The Fuller Constructs stocks were ad-
vanced again and there was a continue
ton of activity in the lead shares. Amerl-
can Smelling was bought by several prom
inent commission houses and there was
moderate demand for the higher-prdced in
dustrials.
The crop reports direct attention 10 the
granger shares and the best buying in the
market seems likely TO center upon that
group. Chicago interest, largely identi-
fled with recent speculation in Rock Is
land is said to have accumulated some
25.ooo shares Of St. Paul with the view OF
making 1t a speculative leader. At the same
time there are excellent reasons for beiiev-
ing that the Standard oil party has been
Increasing its holdings in this property.
Inc Gates party continues To advance
Union Pacific. and during the present week
has attracted some buying really signtf-
cant in character AtchiSon is taken by
friendly interests and the earnings of the
company should entitle ii to very con-
splcuous place in any new activity which
may come into the general market There
are good judges of conditions who consider
ed the last named property decidedly the
most promising Of three last referred To.
The Gould shares have been held back
somewhat by the possibilities of friction
with Pennsylvania, but it is probable that
the Wabash extension has caused more
concern to brokers than to the Pennsyl-
Vania Railroad Company.
The coal stocks hold well hut the strike
is recognized as the greatest menace to
immediate Improvement and threatens the
entire speculative situation. Efforts are be
ing made to force the operators into a less
defiant mood without regard for the merits
of their cause. Politics are apt to get into
the controversy shortly and new coRplica-
tons may arise Meanwhile N2.,s4aAo IN
wages have been sacrificed and the price
of coal is becoming a serious question.
The money market and crop outlook are
relied upon to counteract the strike, and
today's bank statement contributes TO this
hope The banks have gained in lawful
money 81. s52e00 and have decreased their
| loans SS,546GO0. Deposits have fallen of
si.4l0.900 and the reserve has been in
creased 1854 92J. 10 total OF s14 :s01 450
above legal requirements. There was some
realizing around the roo matter the publ
cation OF the bank statement but the
showing is decidedly favorable and should
find reflection in next weeks market