Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-02-01
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bonds. Grain,
Cotton, Provisions, Etc.

New York, Jan. 31.-To-day's stock
market showed the stimulating effect Of
yesterdays sharp advances and in
creased activity in u largely augmented
Su'siue demand. The commission
houses showed more buying orders to
execute this morning than for many
weeks past, and their brokers made a
lirc'y opening OF the floor of the Board
room. The great activity of the mar
ket ana the atsadiness of prices during
the first hour made 1t obvious that sDec-
ulators who had bought stocks ycstcr-
daE were feeding the new demand with
Il 1udicious lihcrnlity, so as TO realize
lroiits OH yesterdays rise and yet not
disturb the new level of values. The
steady and confident absorption of
these offerings proved highly satisfac-
Tory 10 the profe ssional bulls, and be-
fore The end nj the first hour they COM
lnenced to bid up prices again and TO
take on new lines of stock.
The maxi et was a good deal unsettled
ny sudden break OF four POINTS in
sugar. and the announcement of the
failure of an important Stock Exchange
House The closing out of the accounts
OF this house ulder tie rule of the ex-
Change caused pause i'll the spcculu-
I've activity. though the shares were
We'll absorbed and prices well sustain
ell The lest prices OF the day in the
lna1ori, y of stocks were made after this
episode. the demand from the short in
tercst Lecoming eager and pressing for
:, me of the stocks which have been tar
:,ets recently for the bear operations.
The frightened shorts were eagcr to
cover and 1t cannot he said that the
huli contingent retained Tie same pla-
c q confidence during the latter part
nf the day. They were disposed to
avail themselves of the forced demand
from The shorts to realize. and prices
Fielded quite materially during the
last hour
The mixed sentiments thus manifest
eel were partly due to the facts dis
closed by the days incidents that an
lmarr;ant rart OF yesterdays large
buying was due to the reckless and in
temperate attempt to recoup bear losses
by plunging into n long account 1t
was evident that operators short of the
general market had made prodigal
outlay in Sugar, which reiapscd weakly
In face of an effort to realize profits.
There was very heavy covering in evil
den1e at various points in the list. the
industrial stocks, recently under pres
sure, being most conSpicUously affected
The very heavy dealings in t. X. r.
and part of the demand for Steel ana
Wire, were attributed To this c;iuse
There was very large demand, how
ever, for Steel ana Wire for the long
account. The sympathetic effect on
other metal stocks WAS less marked
than yesterday. The aggressive
strength seemed 10 impress foreign
markets, and invited some small buying
demand from London.
Conspicuous strength was displayed
by the Changers. the Cralers and some
OF the Southwestern, but the gains in
the railroad stocks were much affected
by the late realizing, and were nearly
all reduced To fractional limits, after
having extended well above Il point
Third Avenue and Pittsbnrg C. C.
and st. Louis continued heavy, in face
of the general tendency of the market.
The money market continued very
easy. wi hout rcilcl Ting In any degree
the enlarged stock activity, ana ster-
ling exchange WAS distinctly reaction |
airy.
Bonds were active, but yielded at
some points. Total sales, par value, |
81 $4,000.
u. S. coupon declined x. and the old |
as Il in the bid price. The rs rose 4 !
The total sales of STICKS to-day were
G97 900 shares.
New York, jan. 81 Standard oil. ole
GELS.