The times. [volume] (Richmond, Va.) 1890-1903, 1899-04-09
SPECULATION
WAS FEYERISH.
The Natural Outcome of Fridays
Shaking Up Of the Market,
INTEREST IN BANK STATEMENT
Was Considerable and IL Received a
variety Of lntcrprctationc-Th
Weeks Market Showed Net
losses All Through the List.

= NEW YORK. April S.-Interest I'm to-
oas market conferred about the bank
statement which on lis appearance re-
served variety OF Interpretations. The
hrst impression seemed favorahle ~
prices rose at a lively rate but fuller
"hdlAs SIS ot the statement aUpeared less
',i.lis'.c 10 some as realizing set in
i'aFHS the market weak at the end and
Hfcsularly changed on the DAY The
specuHtiOn Was characterized AM dav bv
leNershncss and irrcgularity. After an
D@Ily snow OF strength weakness APP
Feared. and some stocks lost 3 points.
Altcr the shaking out OF many pecula-
tpIs yesterday. the nervousness to-day
may oc considered natural. Some fOrtu-
nate purchasers at yesterdays low level
hcccpted handsome profits to-day while
ttItan brokers who had sold too hastily
yesterday on receiving increased margins
from customers. bought back stocks sold.
mere was drbbiiug 0f standard stocks
mat thcir owners might protect highly
speculative ventures. The impairment Of
some large speculative holdings owing
20 the markets action yesterday induced
uEhlcning Of loads on the rise to-day
Nenturesome traders with only moderate
margins paid the penalty Of Ovcrspccula-
ton this week. and their paper profits
were quickly wiped out. as well al the
principal Invested. The market aftf be-
ing boosted early in the week. apparently
with the idea Of liquidating the stocks
held hy large interests, became tOp-heaVy
and sagged violently toward the end Of
the week. with a partial recovery. leaving
losses I'm the entire list except a few
unimpOrfant properties. The net losses i'm
the standard railways averaged omothing
below 3 points. while in the specaltles
tho losses were in ail cases considerable.
Tfis. BROOKLYN Transit 49,. Federal
Steel and Consolidated Gas over - each.
sugar III: Air Brake 10: Manhattan.
81. Third-Avcnue .. Stocks Of this class
swept over a wide radius. the range OF
those which fuctuatcd most widely In
cluding Metropolitan. which AT one time
was 81 points below the hiRhest Brooklyn
ton
80. Third-Avenuc %. and Federal steel
Peoples Gas and international Paper
We'll up In the teens. The greater part
az these violent dips occurred in the first
hour and a half or Friday, when the
indusfriais quickly swept out the margl-
nal holders am over the country.
The money market was the prlnclpal
cause OF uncasiness. The Discrimination
against the iudustrals when its full
scope became understood was the imme-
diatc cause of shaking of confidence.
The most eager sellers had been gener-
ally the purchasers at the high prices
earlier I'm the week. Aside from the
money situation and uufavorable crop
advicer the developments were generally
favorable Most of the weeks railway
earnings We're good. and there was an M
crease for inc week OF over J" per tenl,
I'm the Clear1nss of all the banks paruaIly
attributable to the cXtraord nary way oi
ejaculation The dealings for the week
were NOT far from GO0N0l shares.
The bond market followed the yaria tons
in stocks rather closely llla Nt'Ns uHt lft
LOSSES were not. as q rule. important:
United States new as coupon advanced
q. do regitorol. tho j's and old As cou-
pom 20 and do registered - IN the oiu
Tho total snlcs of stocks today were
sS2 lo1 shares. including 1000 Atchson
rrcforrs3 1870 Chicago Burlington ana
Quincy. ~ $50 Manhattan; $50 Metro
,.ofifan street railway. 1870 Missouri 20
BOO. b So New York Central. J.3l5 Nortn-
I'm Pacific. r 21I Rock Island: I.1IO Union
r'.,-ffr. a. elr DO r.rcfcrrcd 20 ST. Ffuli
q Q-s American steel and Wire. EfrH
Federal steel. IT, idG do. preferred *,
10, Peoples Gas, 41233 BROOKLYN RAPID
Transit. e lfl Continental lQDt,''' "."V
sugar. Sg9o Tenn ssee Coal ana iIoh'
MONEY AND EN CHANGE. Money on
call firm ~ sac per cent; last loan ar 9
rer cent. prime mercantile paper. 3HH4A
nor cent Sterling exchange easier. with
setifal business in bankers bills no 50 Sid
a ori Gov demand and at ~ SAi 81 for
et,+,. f.,.. n0stod rates. 81 Sa0 i.S-lh and
- s-0>4 s-i,. commercial hilIs. NiN5l.N
a 81 silver CcrtircaAcS hfiN'-,f "oi 9ii-
Yer lqie. Mexican dollars So Stale
bonds inactive. rallfcdo noiuS i"ih' Wv
ornment bonds strong.
RAN STATEMENT-Thc weekly bank
s+afowort shows fhe following changes.
Surplus reserve. decrease ......'S dihu-I
Loans. decrease .....- ..-....-.. t-+l't'n
Specie. increase ..--- ....-'ss's. ,-.,''.-,,D
legal tenders. decrease .-..-..'. ,-'..,U
narnrffe decrease .--..---.. ..+- 't'. i--.'D
Cf~ru1afiou increase ..-........ 'N,"VN
s.no Ianits now hold >lhclNS2 IN excess
OF the requirements.