Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-05-22
Good Buying of the Granger
Road Stocks.
ADVANCE IN ST. PAUL
MINERS STRIKE STILL A DETER
RENT INFLUENCE.
Favorable Crop Reports and Cheap
Money Were the Bullish
Influences.


Special DispGtrh TO The Evening Star
NEW YORK, May 22.-Eucouraged by
the continued favorable crop reports. the
western operators revived a vigorous cam
paign In the granger shares this morning
The buying was reinforced substantially by
activity on the part Of brokers usually act
ing for Standard Oh interests. ST Paul
was an active favorite in this new bust
ness. gaining something over pa per cent
under liberal purchases.
An order for 1000 shares. executed by a
single broker. forced a spirited advance To
1flR just at the close Of the lunch hour
Atchison common was well bought ard
there was steady accumulation Of Union
Pacific around los.
Rock Island and Northwestern were firm
under moderate dealings The crop pros
poets. coupled with the ease in money
comparatively easy task. but there wer.
times when the market halted and be-
came confused.
The volume of business was well dis
tributed. but commission houses had few
large orders rather than numerous orders
from hitherto inactive clients Notwith-
standing the encouraging symptoms Of the
days ma rket, conservative houses hesita ed
10 advise purchases. The coal strike was
frequently mentioned as the real reason for
this conservatism. and the feeling is grow
ing that the possibilities for mischief from
this source are increasing.
The public is interested In the coal strike
and IL is difficult 10 arouse interest in the
stock market while fears OF labor troubles
are noticeable on every hand. The coal
stocks are well supported. but there was
no effort to advance them. The higher
priced issues such as Delaware and Hud-
son and Lackawanna. were strong, while
Reading and Erie reflected some selling Of
stock accumulated on the first week fol-
lowing the strike announcement.
The buying, OF Reading per cent bonds
around par was good in character. and
there would seem 10 be no mistrust OF
values so far as this property is concerned
yet its stocks, because OF an extended long
account, are most sensitive to strike news
Persistent buying by prominent national
bank inspires confidence in future develop
ments of an encouraging nature.
In the industrial list. Amalsamated Cop
per, Smelling and Sugar were active fea-
lures. and at higher prices The recovery
In copper prices continued to help the COP
per stocks and inside interests were thought
to be making a turn the long side Of
Amalgamated. There was practically no
public following in this movement. the cir
cumstances attending the decline not hav-
ing been sufficiently dimmed by the recent
period of neglect
The new interests I'm American Smelling
were thought to be increasing their hold
ings and found the supply OF stock rather
limited. In sugar the announcement from
washington that the leaders of the ma
1ority had agreed upon - per cent re-
duction on Cuban sugars I'm the pending
reciprocity bill was made an excuse for
forcing in the short interest
The selling was better than the buying a
the top figures Call money around 81 per
cent was the best feature OF the la trad
Ing, but news from the coat fields was loss
encouraging. waiting market seems as
sured for further indefinite period