Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-05-24
Stock Market Showed Fur
ther Extensive Advances,
BUT REDUCED BUSINESS
ALL THE ACTIVE INTERESTS
ROSE FROM 1 TO POINTS.
Tendencies Were Fairly Uniform in
Various Departments-Money
Conditions Remained Easy.
epecial Dispatch TO The Star.

Special Dispatch TO The Star.
NEW YORK, May 24.-On a slightly re-
duced volume of business today's stock
market showed a number of further extern
sive gross advances. In fact practically all
of the more active issues at one time or
another rose from l to more than points
above yesterdays closing figures In the
curb market Northern Securities stock
made even a more spectacular advance,
and in the stock exchange dealings all of
the shares in any way concerned with the
Northern Securities situation were par
ticularly strong and active.
Market tendencies were. however. fairly
uniform in the various departments Ad
vances corresponding to those in the rail-
way list were likewise recorded In the in
dustrial and miscellaneous stocks, and the
local traction issues were firm also. with
however, little activity aside from Brooklyn
Rspid Transit. Today's smart rebound in
prices could not be said to have had any
particularly specific or novel explanation
apart from internal market circumstances
of themselves.
London was an influential factor in the
recovery, substantially higher range of
prices for American stocks being cabled
from that point while the purchases here
Tor foreign account were estimated at up
ward of 10000 shares. The local trading
showed a material abatement in the liquda-
ton which has been in progress for several
weeks past, and in fact the selling of this
character today was little more than nom
inal and scattering.
During the protracted and extensive de-
cline In prices very little has been heard
with regard to the Identity of the largest
buyers of securities although 1t was easy
to hear the names of the individuals who
were credited with parting with their hold
fngs. In financial situation which, broad
ly considered, shows few signs of impair
In tfc ftt, do, FOL nh,
be strange indeed If decline in securities
ranging from 10 to 40 points should not
finally lead to purchases of a genuine in
yestment character. Notwithstanding the
uation, 1t appears to be the case that the
check to the long decline in prices has been
given by buying of this sort.
The advance in the foreign exchange
market made no further progress today
and money market conditions remained ex-
tremely easy in all departments. The
commodity markets were again very
strong. with al of the cotton options rising.
8 cents.
In the grain market both May wheat and
May corn were decidedly strong. but the
advance in the more distant options was
checked by the continuance of favorable
weather conditions in the grain belt. Scant
attention was paid, however, to any of
these features of the situation, and in It's
search for some Interior explanation of the
markets strength Wall street hit upon the
theory that the fancied difficulties in the
northwestern railway situation were in
fair way of being Strengthened out
The ideas which prevailed with regard
to the nature of the settlement were quite
as vague as those which have been enter
tanned as to the nature of the difficulties to
be disposed of.
There was as little actual news in con-
nection with the special dealings in one
stock or another as there has been at any
time during the recent violent fluctuations
in the market AS noted above, the stocks
concerned in the Northern Securities situa-
ton were all particularly animated, with an
exceptional advance in Northern Pacific.
Other extensive gains in the railway list
were in the Erie issues Baltimore and Ohio.
New York Central. Canadian Pacific, Read
ing Louisville and Nashville and Southern
Pacific.
Predictions of the early beginning of divi-
dend payments accompanied the dealings In
Southern Pacific In the industrial quar-
ter there were substantial advances in the
United States Steel shares, Tennessee Coal
and Iron, Colorado Fuel and Iron, Amalga-
mated Copper and American Smelling.
There were active dealings in the bond
market also, with quite uniformly strong
tendencies prevailing in that quarter.