Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-03-24
IRE VIEW h gOF MARKETS.
SFINANCIALIAND COMMERCIAL
Stocks. Money. Exchange, Bonds. Grain,
Cotton. Provisions. Etc.

New York. March 2S.-Prices of
stocks made continual, but unayailng
efforts to stand up under the weight
of heavy sales to realize profits, but In
the majorityssof Instances the last
prices are below those OF last night.
The whole listwas at one time higher
than last night, and several stocks
or groups f3stocks made show of
aggressive strength But this seemed
to be due largely to manipulation to
sustain the list in the interest of those
who We're selling to take their profits.
y This. was notably the case in Baltimore
and Ohio preferred, which was rushed
up at tone time nearly three points
above last night. While the preferred
was thus rising, heavy selling contin-
u ued in the common stock. All of those
stocks which have been most heavily
bought In the last few days were most
largely sold to-day. Selling orders
I. came not only from the board-room
traders, but from outside sources, and
Y London reversed It's position of yester-
3 day 1t bought slightly of some stocks,
but the balance of transactions on that
account We're on the side of sales. This
had, a decided sentimental influence
) on speculative opinion, as great hopes
We're aroused by Londons active buy
Ing yesterday, that sustained support
woud be accorded to the market from
that source. There was nothing in the
news of the day to afford a clear eX-
planation of the weakness in the mar
ket beyond the natural desire to take
profits on yesterdays very considera-
BILE rise. The local traction stocks
showed some positive weakness and
were something of a drag on the mar
ket, as was sugar. The local fractions
were sold on renewed apprehension that
g heavy tax would be levied under the
new franchise law. A sudden squirt
In q
sold at 160 a few minutes before caused
rallies in this group and had u steady
ing effect on the whole market, which
was tending-downward up to that time.
s The weakness in sugar was due 10 the
explicit announcement that recent ne
2gotiatfonS for compromise of the
trade war had been abandoned.
The iron and steel stocks continued
duh and rather heavy on account of the
machinists' strike.
Money continued In good supply up
to the close. The cash changes for the
week on various accounts, as estimated,
SO nearly balance that the fate of the
surplus reserves will depend upon the
changes In the loan account. The sub
treasury has commenced to disburse
the premium on government bonds de-
posted for conversion into the new
two's. and as a consequence the losses
by the banks for the week on sub
treasury operations are reduced to
s1,1S7, 900, and this is almost offset by
receipts of gold from Canada and other
points. The shipments to the interior
are almost exactly offset by the re-
ceipts.
The prof1t-taking In governments
has tended to the reduction Of loans of
the banks, but the renewed activity on
the stock market has created n demand
for new loans. The action OF the
money market indicates that the banks
nre well within their limit Of legal re-
serves.
~ The bond market was less active than
yesterday and yielded at some points
In sympathy with stocks. Total sales,
par value, So. 5S5,000
United States 2's advanced x, and
the refunding 2's when issued declined
Il in the bid price.
The total of stocks to-day We're $751;
700 shares.
New York. March 2a.-standard Oil,
b.26@6.30