The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1899-04-11
The New York stock Market.

New York, April S.-Interest in to-
days market centred about the bank
statement. which, on it's appearance,
received a variety OF interpretations.
The first impression seemed favorable,
as prices rose at a lively rate, but full
er analysis of the statement appeared
less optimistic to some. as realizing set
in, leaving the market weak at the end
and ir~regularly changed on the day.
The speculation was characterized all
day by feverishness and irregularity.
After an early show of strength weak
ness appeared and some stocks lost B
per cent. After the shaking out Of
many spectators yesterday the ner-
vousness today may be considered
natural. Some fortunate purchasers at
yesterdays low level accepted hand
some profits today, while certain,
terday. on receiving increased nt.y<
gins from customers bought back
stocks sold. There was a dribbling Of
standard stocks that their owners
might protect highly speculative ven
lures. h impairment OF some large
speculative hogs owing to the mar
kets action yesterday nduce tighten
ing Of loads on the rise today. Venture
some traders with only moderate mar
gins paid the penalty OF over-specula-
ton this week and their paper profits
were quickly wiped out as well as the
principal invested. The market, after
being boosted early in the week ap-
parently with the idea Of liquidating
the stocks held by large interests be-
came top-heavy and sagged violently
toward the end of the week with a par
tial recovery, leaving losses in the en-
tire list except a few unimportant
properties.
The net losses in the standard rail-
ways averaged something below 3
points, while in the specialties the loss
es were in all cases considerable, the
largest declines being Metropolitan 1917,
Brooklyn Transit 15k, Federal Steel
n Consolidated Gas over IL each;
81, Third Avenue s.
Stocks of this class swept over a
wide radius, the range Of those which
fuctuated most widely include Metro
politan, which at one time was 90
points below the highest. Brooklyn
Transit about 30, Sugar 27H, Manhat-
tan %. Third Avenue 20 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 a half on Friday.
when the industrial panic quickly
swept out the marginal hogs Of spec
ulators all over the country. Will
the stringepcy In the money market
was the principal cause OF uneasfness.
the discrimination against industriaIs.
wnen IT'S full scope became understoo6(
was the immediate cause Of the shakz
ing 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 u~nfavorable crop
advices, the developments were gen.
orally favorable. Most OF the weeks
railway earnings were good n there
was an increase for the week OF over
20 per cent. in the clearings OF all the
banks. partially attributable TO the ex-
traordinary way OF speculation. The
dealings for the week were not far
from 5000, 900 shares.
The bond market followed the vari.
atoms in stocks rather closely this
week, but net losses were not as a ruiz
important. United States new As cou.
pons advanced x. the registered. tn,
SIS and DID As coupon Y and h regis.
tered n In the DC price. The tota
sales of stocks today were 3s3. 4Ol
shares.