Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-04-09
REVIEW OF MARKETS

New York. April s.-Interest in to-
days market conferred about the bank
statement, which, on its appearance. re-
ceived variety of interpretations. The
dirst impression seemed favorable as
prices rose at q lively rate but fuller
analysis of the statement appeared less
optimistic to some, as realizing set in,
leaving the market weak at the end
and .rregularly changed on the day.
TIE speculation was characterized all
Gay by fevershness and irregularity.
After an early show of strength weak
ness appeared, and some stocks lost 3
per cent After the shaking out of
many spectators yesterday the ner-
vousncss to-day may be considered nat
ural. Some fortunate purchasers at
yesterdays low level accepted hand
some profits to-day while certain bro
kers who had sold too hastily on re-
celving increased margins from custo-
merS, bought back stocks sold. There
was a dribblng of standard stocks that
their owners might protect highly spec
ulative ventures. The impairment of
some large speculative holdings owing
to the markets action yesterday, in
duced tightening of loads of the rise to-
day. Nenturesome traders With only
moderate margins paid the penalty of
over-speculation this week and their
paper profits were quickly wiped out,
as we'll as the principal invested. The
week apparently with the idea of liqui-
dating the stocks held by some large
interests. became top heavy and saggcd
violently toward the end of the week
with partial recovery, leaving losses
in the entire list except Il few unim-
portant properties.
The net losses in the standard rail-
ways averaged something below 3
points, while in the specialties the
losses were In all cases considerable,
the largest declines being Metropolitan.
16: Brooklyn Transit. 15lA; Federal
Steel and Consolidated Gas over IL
each; Sugar, 11h; Air Brake. 10; Man.
haitian. S1e; Third Avenue. 5.
Stocks of this class swept over a wide
radius. the range of those which fuc-
tuated most widely include Metropoli-
tan, which at one time was 301s points
below the highest; Brooklyn Transit,
about 30; Sugar 271s: Manhattan, 90;
Third Avenue, 90 and Federal steel.
Peoples Gas and International Paper
we'll up in the teens. The greater part
of these violent dips occurred in the
first hour and half on Friday when
the Industrial panic quickly swept out
the marginal holdings of spectators
all over the country. While the strin-
gency in the money market was the
principal cause of uneasiness. the dis
elimination against Industrials when
its full scope became understood. was
the immediate cause of the shaking of
confidence.
The most eager sellers had been gen.
orally the purchasers at the high prices
earlier in the week. Aside from the
money situation and unfavorable crop
advices, the developments We're gcper-
ally favorable Most of the weeks
railway earnings were good, and there
was an increase of the week of over
10 per cent. in the clearings of all the
banks, partially attributable to the eX-
tra.ordinary way OF speculation. The
denlings for thetweek were not far from
6,000,010 shares.
The bond market followed the varia :
lions In stocks rather closely this week.
but net losses were not as a rule i'm
portant
United States new As coupon advanc-
ed Is, do registered, the SIS and old As
coupon q and do registered Z In the
bid price.
The total sales of stocks to-day were
49,. 400 shares.