Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-01-20
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bonds, Grain,
Cotton, Provisions, Etc.

New York, Jan. 19.-Thc stock market
was strong and active all day, except
for Il realizing movement around deliv-
cry hour, when prices receded about a
point in many stocks, but toward the
close picked up sharply, and the clos
ing was strong. with material net
gains in all the leading shares. The
volume of business was above the mil
lion share mark, and London, after be-
ing seller for Il long time to-day, re-
Vcrsed her position and purchased
about $4,000 shares. Following the eX-
ample of the Imperial Bank of Ger
many, the Bank of England reduced
Its rate of discount. \ continuance of
easy money conditions here was an
other factor in the confidence shown
to-day. The Changers made new high
record prices for the current move
ment, and the average price Of active
shares was also the highest The strong
London tone encouraged II high OPEN
ing here, and there was q. large accumu-
lation of buying orders over night, the
short interests were compelled 10 re-
treat in many stocks. There was heavy
realizing at the advance, but the stocks
sold were well taken AID the market
bloadcned out.
The greatest activity and strength
was shown by Manhattan, Burlington.
st. Paul, Sugar, Atchison preferred.
Reading first preferred and Northern
and Union Pacifcs The advance in
Sugar was credited to Il rounding up
of the shorts. The advance in Burling-
ton seemed to be accepted az meaning
that something was under conSidera-
ton in regard to n re-funding scheme.
although negotiations under way were
said To apply to the issue of only n
small amount OF bonds. The interests
concerned We're non-committal and
there was no definite development one
way or the other The advance i'm Man
haitian was accompanied by n story
connecting the name 'of Il large outside
interest as likely to take part in the
financing of electrically equipping the
road but the denials of this were en-
phatic as hitherto.
The increase in the Omaha dividend
OF lE yer cent seemed to have been
discounted as the stock was Inactive
alter the announcement, and then dip
pea In Sympathy with the realizing
movement in the rest of the market.
Favorable earnings for the second week
In January lent strength To Louisville.
Lake Erie and Western stocks advanc-
ell on covering by the short interests
The preferred advanced 5la and the
common 2bs on the dissemination of ru-
lnors of Il deal with the c.. c.. C. and
st. Louis
The rumor Of the prospective retire
ment of the Minneapolis. St. Louis first
preferred stock resulted in an advance
in the second preferred stock of over
three points. There was an advance in
most of the Gould properties some of
which have been inactive of late. Man
haitian rising Az and Missouri Pacific
2 points.
Among the Investment stocks New
York Central rose a point and half.
There was considerable liquidation in
Kansas, Pittsburg and Gulf stocks and
bonds.
The bond market showed relatively
more activity than the stock specuIa-
ton. market advances were scored all
around with the undertone aggressive
ly strong.
United States 5's registered advanced
Is in the bid price
The total sales of stocks were l ,07O. 500
shares.