The age-herald., 1899-04-09
SPECULATION WAS
 QUITE FEVERISH Interest Largely Centered About the Bank Statement.
PRICES QUICKLY WENT UP
But After a Careful Analysis of the Statement Some Realizing Set In Losses on the Day Were
 Considerable.

New York April 8.-Interest in the days market eente5ed about the bank statement, which, on it's appearance received vari- ety of interpretations. The hrse impress sion seemed favorable, as prices rose at a lively rate, but fuller analysis of the state ment appeared less optimistic to some, as realizing set in, leaving the market weak at the end and irregularly changed on the day. The speculation was characterized all day by feverishness and irregularity After an early show of strength, weakness ap- peared and some stock lost 5 per cent.
 Alter the taking out Of many speculators yesterday, the nervousness today was con- sidered natural. Some fortunate purchasers at yesterdays low lever accepted nlnGSome profits today, while certain brokers WHO had sold too hastily yesterday, on rece.y- ing increased margins from customers, bought back stock sold. There was d drIu- bling of standard stocks that their own CTS might protect highly speculative ven tuFes The impairment of some large spec ukltIve holdings owing to the markets ton yesterday induced tightening of loads on the raise today.
 NentureSome traders with only moderate margins paid the penalty of oyer-specula- Ilon tnis week and their paper profits were qdlckly wiped out as well as the principal invested. The market, after being boosted early in the week, apparently with the idea of liquidating the stocks held by large interests, became top-heavy and sagged violently toward the end of the week with partial recovery, leaving losses in the en- tire list except a few unimportant proper ties. The net losses in the standard rail- ways averaged something below points, while in the specalties the losses were in all cases considerable, the largest declines being Metropolitan, 16A; Brooklyn Transit, 1512; Federal Steel and Consolidated Gas, over F each; Sugar, 11l2; Air Brake, 1O Third Avenue, ,, etc.
 Stocks of this class swept over wide radius, the range of those which fluctuated most widely include Metropolitan, which was 32 points below the highest, Brooklyn Transit about 30; Sugar, 2712 Manhattan, 23; Third Avenue 20 and Federal Steel, Peoples Gas and International Paper went up in. the tens 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 strngency in the money market was the principal cause of uneasinesS, the dis crimnation against Industrals when it's full scope became understood, was the inn mediate cause of the shaking of confidence. A number of commission houses decided to insist on purchases of Industrial stocks be- ing either made outright or that margins be increased largely, even 50 per cent. being exacted.
 Thus many specialties held, though the rise had to be thrown over Rates for call money where industrials were included in the collateral had been in the nature of private transactions between the banks and the brokers of late, but when open bidding for accommodations on industrial collateral showed the rate in some cases to be per cent. above that eXacted for railways un- easiness developed and these stocks, par ticularly those which have had an extra ordinary rise were sacrificed.
 Most of the weeks railway earnings were good and there was an increase for the week of over 90 per cent. in the olearings of all the banks, partly attributable to the extraordinary way of speculation The dealings for the week were not far from 5000 000 shares.
 The bond market followed the variations in stocks rather closely this week, but net losses were not, as a rule, important
 United States new As, coupons, advanced T; registered the Els and the old As, coupon %; and do registered F bid price.
 Total sales stocks today were 3S3 400 shares. incuding Atchison preferred 14,- O20, Burlington 13,300; Louisville and Nash vile 3,44O Manhattan 21670. Metropolitan SS25 Reading 1st preferred 4550, Missouri Pacific 14510, New York Central e,S25, Northern Pacific 5,315, Rock Island 5,315, Union Pacific preferred 66S5, St Paul 14425, Federal Steel 29,215, Federal Steel preferred 14411, Brooklyn Transit Al 235, Continental Tobacco 7165, Sugar 10,500, Ten nessee Coal and Iron $500
 (By Private Wire to Paine, Murphy & Co.)