The age-herald., 1899-03-19
CHA lGES WERE
 VERY NARROW
In Early Trading Stock Prices
 Drifted Downward.
THE INTEREST IN SUGAR
Specially Closed Within Fraction oi High Point. 172 l-2 Dealings Throughout the Week of
 Professional Character.

New York, March l8-The change in stock prices compared with yesterday was very narrow. In early trading prices drift ed downward notably Continental Tobac- co, International Paper, Glucose American Steel and Wire, Brooklyn Transit Burling ton, Texas Pacific and Metropolitan Street railway. The movement seemed to be in the nature of a discountng of unfavorable bank statement, for when it was published, showing a decrease of over s4,OOO,0OO In the some three and half millions in loans, a covering of shorts set in.
 Interest was very largely centered in Sugar today, and the stock closed within a fraction of the high point, 172k, yesterdays closing being 1641a. Tennessee Coal and Iron also showed improvement on the day. There were declines of from fraction to per cent. in Tobacco and some of the indus trials, including Continental Tobacco, In- ternational Paper, American Tin Plate and American Steel and Wire. The railways left off practically on a parity with yestef- days closing. The market closed strong and active.
 The stock market was of very profess sional character throughout the week with standard shares generally receding, as did a number of the industrials But Sugar was marked up over points with influence on certain stocks. The money market was the all-important influence call money av- eraging per cent, although at one time it touched per cent. There was reflex easing in sterling exchange and harden ing of money rates in all foreign markets. The banks were in receipt of urgent re- quests for currency, especially notes from western banks, but the scarcity of currency here was reflected in the payment early this month of over S4 per cent. of the GUS toms duties in gold. The payment of &C., OO00OO to the government in settlement of the Central Pacific obligation, together with the purchase of Chicago and Alton stock, for which large sum was transfer red to the former owners, were partly re- sponsible for the hardening of the money market.
 The decrease in surplus reserve of over $4,VoO,OOO was thought to be largely due to those special transactions. The uncertain ty at this season regarding winter wheat, together with predictions that February net traffic returns would not be up to ex- pectations had depressing influence in the railways. On the other hand earnings for the week in March showed an increase of about 1 per cent. The decrease of some eight and quarter million dollars in value of excess of the February exports compar-
  in relation to our foreign trade situation, but the item showing increases in the ex- ports of manufactured articles was a source of qualification. The signing of the peace treaty by the queen regent of Spain being expected caused no response in the market. All the advances of note were made in securities of this class with sugar the leader. This stock, after remaining comparatively steady, suddenly sprang in to activity on Thursday on transactions of
 
 29h points above the price of the previous day, reaching 170, and then reacted to 15l, and on Saturday again it rushed up to 172h.
 Various rumors attended the remarkable movement in Sugar. All the independent refneries and the Glucose company were mentioned as about to form a combinat tion with the Sugar combine and be absorbed by it. These rumors met prompt denial by the concerns mentioned or interests which should be posted except in the case of the president of the Sugar Refining company, and he made no statement Among the other notable advances were New York Air Brake 1914 Tobacco 135s, Brooklyn Transit 7%. Glucose 71s, while Chicago Terminal Great Northern preferred, Peo- ples Gas, Tennessee Coal and Iron and Metropolitan Street Railway were up about four points each The largest gains were Consolidated Gas 6, Continental Tobacco 51a do preferred 6, American Steel 2as, h. ternational Taper pre1erreu ft2, lHiru Avenue f. and Kansas.
 New York, March 1S.-Total sales of stocks today were 351 800 shares including Atchison preferred, 1,010; Burlington, 21,- S5o St. Paul. 9,6S0; Texas and Pacific, T. 7aO: Sugar, 69 $40; Tennessee Coal and Iron. 17,69O.
 (By Private Wire to Paine. Murphy & Co)
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