The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1899-03-06
ZzII!Z''.I!|!iKi|i'!7Il1l3
THE MARKETS.
Wall Street Review.

New York, March 4.-The market
was working upward under the impetus
of yesterdays movement until the ap-
pcaranCe of the bank statement show
ing loss of over $5,000,000 in the sur
plus reserve and another expansion in
the loan account. Prices Immediately
gave way sharply in many shares, the
recession being from 1 to points from
the best and leaving the standard
stocks fractiOnally below yesterdays
figures, while in many other shares the
net changes were mixed. There were
sharp 2wvances early here in the steel
stocks, the Anthracites, Tobacco,
Brooklyn Transit, General Electric and
the prominent railways, the latter i'm
proving a point in some cases. The
market closed weak at the lowest To-
tai sales were 100000 shares.
BY j. r. l.. Darlington & Co.
New York March 4-The stock mar
ket this week has been less active ana
less satisfactory than for sCme time pre-
vious. Smaller outside interest in the
market has been followed by a decrease
in business and during the early part of
the week decline in prices. There has
been evidences of good deal of liquida-
tion and on raids made by traders to
catch stop orders, a good deal of long
two last days of the week the market
showed evidences Of support by insiders
in several securities and the week closes
with very small losses except in special
interests Industrial stocks have been
ragged and irregular as it was noted that
the public was beginning to mistrust
them little on account of the rumor that
the larger banking interests We're not
willing to take large amounts of them in
loans. Money is dominating the situa-
tion at the moment, and rates have ad-
vanced on the Exchange about 1la per
cent: with q good deal of discrimination
against collateral The market being
quite heavily loaded with stocks and
brokers used to nominal rate for so
long the change in the situation has
caused a good deal of uneasiness. The
railroad earnings for the three weeks of
February have shown slight decrease ow-
ing to the severe weather of the second
week. The loss is mainly in the south
ard southwestern roads, however, and is
very small, the total for all classes being
only 3 per cent. below 1898 and IA per
cent below 90 the previous record years.
East bound shipments which are to a GER
tain extent indicators of the carrying
movement have declined fractionaly be
low 1898 but are in excess of 1892. so that
all things considered the railroad situa-
tion seems TO be quite as good if not bet
ter than last year The great advances in
iron and steel prices due to a very heavy
demand has been the feature. The large
companies are practically Congested with
orders and in consequence have put up
prices for self-protection. The general
situation Of the country at large con-
tinueS of the most encouraging character
| the business for February was the argeSt
ever known. Clearing house EXCHANGES
were about seven billion as against i've
per cent larger than 1892. Records since
, the commercial reporting has been kept
show there has been no other month in
which the reports from the country have
been so good as in February. The i'm
provement seems to be widespread and