The times. [volume] (Richmond, Va.) 1890-1903, 1899-03-21
THE BEARS HAVE
THE BEST OF II.
Sugar Takes a Tumble and the Stock
Market Closes Weak.
TOBACCO TAKES A BIG SLUMP.
Stocks were Fcverish and Both Amer
lean and Continental Closed Few
Points on Railroad Stocks
Showed More Strength.
TOBACCO TAKES A BIG SLUMP.

NEW YORK. March 20.-The market
after a sensational moNehcn' 4" S"h"
and the local transportation s ,i"aos
CLOSED weak. with mixed net chahges.
Intc~es, conferred largely In sugar, IN
which tho transactions were over 1880
shares, with total on aDouS 1890 ~
shares. Sugar opened Win az "uNdii1I VI ~
ebout points. ran on "'2' anu lhch
touched IS with subsequent plunge
OF is points. closing with a net loss OF
about points The extraordinary move
mont OF this stock had wide influence
In other directions Brooklyn transit WIS
lifted over points. ana lhen Ioal InuC"
OF its gain. Pronounced slIens,h 5p-
reared in the Nanderbhts, Cilon ~
ci6c. Northwestern the coalers and Chi
caco Terminal preferred, while some or
the internatiOuals made q snow OF
strength in the early dealings In sympa-
thy with the higher range IN LONDON
The Tobacco stocks were extremely rev
crfsh American Tobacco broke 6t2 raj
lied 8 and left off with loss or :. COhti-
mental Tobacco sluupcd l4H. ana Va on
3 points az the close. inc lqhualloh III
these stocks WAS attributable 10 the re-
ported formation of new opposition To-
haccO company. Manhattan retained inc
greater part OF a point rise. mere wa
q disposition Of the professional element
TO let commission house purchasers nave
stocks. and subsequently, when sugar
was tumblnC. the call money reached
per cant Prices were freely o1ered down
Standard stocks. while easing with the
recent market. rcccued IN an Ordcfiy
manner and the reaction IN thlse securl-
ties from the best did not exceed points,
except I'm special cases. Money on call
toward the close eased with the last loan
at and offered az 3. but the market
failed 90 respond 10 the changed cOnui-
lions due 90 the supply OF money offered.
and the reaction was unchecked to the
end. The strength I'm Brooklyn Transit
was CO-incidcnt with published inter-
view with the president OF the Brooklyn
Elevated railroad. 10 the effect that an
exchange of q majority Of the Brooklyn
elevated stock for Brooklyn Transit stock
had been arranged The advance IN
Union Pacifics and New York Central
was timed with the announcement of tho
return OF the leading interest In Wander
bh stocks. and gave rise 10 renewal or
the rumOrs that Union Pacific might be
absorbed by the New York Central The
opinion expressed Of the market that the
rise in London. which was purchaser at
the opening only was manipulated from
this side 10 facilitate the liquidation
which waws evident I'm the market
Bond prices to-day were raised general
". considerable activity developing in the
ST. Louis and Southwestern issues. Texas
Pacihc and others. Total sales, $3.50.
COO. United States 3's and new as adj
Vanced D. and old As * in the bidprice.
The total sales Of stocks were gOS 800
shares, including &.22O Atchison pre-
Quincy. a3 30 Manhattan. g51O Metro
pOiitan Street railway. 1000 Reading
frst preferred, 1920 New Jersey Central.
-. sol New 1NIh Ifllidls IffN NuIlucIu
Pacific. 1890 Ontario and Western; 81 0SS
Union Pacific. $3.50 do. preferred, 124H
ST Paul. 1901 Texas Pacific, - 600
American Steel and Wire 1114J Amcri-
can Tobacco; 1850 Federal steel; 6, i67
do. preferred. 2S,ooO People Gas; 81 $50
Brooklyn Rapid Transit 1gi G31 Sugar
~. 40 Tennessee Coal and Iron.
MONEY AND EXCHANGE-Mo on
call strong AZ 4H9 per cent; last loan
at ( per cent: prime mercantile paper,
SAN4it per cent. Sterling exchange
steady with actual business in bankers
bills al 81 Sll4Q4.Sjla for demand and at
t4S34 04S3ia FOR sixty days. posted rates
81 S4a4 s4i2 and 81 s',04 SOL. commercial
bills. iS2i3. Silver certificates nOminally
6OQGl bar silver. Jga4. Mexican dollars.