The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-02-24
THE MARKETS.
Wall Street Review.

BY Associated Press.
New York, Feb. 23.-Today's market
dealings in excess of a million shares was
extremely erratic ana the net results
showed honors about even pelWeen iaI IiIS
bulls and bears. The most signihcant
losses were made in sugar ana inc
Granger group. Burlington hgurlng Tor
3l2. The leaders In the other column Wete
Tobacco, the Minneapolis and ST. Louis
shares and Third Avenue. The market
opened strong with conslderable ue-
mand for foreign account, Lonuon tah-
ing fully &c. 900 shares, over half OF whlIn
were the Atchisons Plenty of selling or
ders appeared and prices recedcu from
the opening figures. I'm some cases sndlp-
ly, Special strength was SHOWN py Amer
lean Steel gaining points When the gen
eral list was crumbling. This was que 70
the glowing reports OF the company
business which emanated from parues
connected with the property; sugar Vas Vas
ended with a five-point loss Inc CoaI-
ers averaged point up with Jersey Cen
trail exceptionally jumping Sn on reports
coward regulating the coal trade. Ihe
market closed irregular with weak hn-
dertone. Total sales were lOll4OO shares
The bond market displayed marked 9c-
gree of strength, wniCn was not inttu-
enced by the block in stock prices until
the close when some issues yielded III
sympathy. Total sales were Sj,5Oo,VO.
BY ]. Il. L. Darlington & Co.
New York, Feb. 23--The market opened
WN gular and excited in places with
heavy buying orders I'm American Steel
and Wire, Federal Steel and Tennessee
Coal stocks which resulted IN sharp au-
VanCes in them. London houses were
large buyers of their speCialties, notably
Union Pacific and Atchison. Commission
houses had a fair amount Of orders but
there was some liquidation throughout
the list. The market held strong and hrm
throughout the early part of the day but
around 1.30 p. m. selling movement de-
Veloped which dropped tins from to 3
per cent. The market looks over bought
to us and we should not be a DIT surprised
to see somewhat lower prices. The de-
cline was heaviest today in the stocks
which have shown most material ad-
vances. We have reason to believe that
several large interests have liquidated
on the last advance and are willing to see
the market run off somewhat. While we
are not bearish we think temporarily at
least purchases should only be made on
weak spot. The conditions of money are
coming in evidence every day and 1t Is
just possible some liquidation Is caused by
the fact that loans are being called by the
banks. The gyrations of Tobacco and
Sugar have weakened the market per-
Ceptibly Shorts have been forced to
cover these by removing buying power
which previously existed. At the same
time they have frightened outsiders into
taking profits which they previously
would not have done. Such manipulation
as has taken place in the market Is al
ways detrimental to best interests and for
that reason we are inclined to be Conser-
vative on It. Steel and Wire which we
have been persistently bullish on was
very strong and active throughout the
day. 1t win not advance in the declining
market but may be safely purchased be-
low 80 for very much higher figures. The
market closed somewhat irregular and
weak with probability Of lower prices to-
morrow. Total sales, 1,0ll422 shares;
bonds, s5,O74,OOO