Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-02-28
REVIEW OF MARKETS
FINANCIAL And COMMERCIAL
Stocks, Money, Exchange, Bonds, Grain,
Cotton, Provisions, Etc.

New York, Feb. 2I.-rhe violent iluc-
of stocks on the exchange to-day real
lied the professional traders dreams OF
elyslum. Handsome profits were real
lied within Il space OF ten minutes, and
necessarily heavy losses had TO be
pocketed. But il all added to the eX-
citemcnt and interest Of the hazard, and
the board room traders kept the spccu-
lation 1T the boiing point, working in
ana out OF the market many times dur
Ing the day. The commitments were
made almost entirely OH the bear side
of the market. but the frequent taking
of profits by covering of shorts worked
frequent and violent rallies, keeping the
market for the specialtieS in IL state OF
feverish uncertainty with cratic iiuc-
tuations. whose end it was impossible
to see.
Third Avenue was still the centre Of
interest. as on previous days of this
week. On the sale of 100 shares at the
opening quotations were practically
lost. simultaneous sales being made all
the day between GS and g., against 71E
at last nights close. The limits of the
total stock issue seemed to be no bar
10 the volume of the transactions The
detailed record of the stocks cratic
course during the day would be with
out interest. AT The lowest price IT. was
20ia points below last nights quotation.
and Il final fractional rally was spas
modic and without Significance.
Sugar maintained its promincntplacc
in the market, but reflected much doubt
and uncertainty OH the part OF the large
outstanding short interest. 1t WAS
forced down 10 10lis. and in the late
dealings rallied strongly TO 1861. with
only Il fractional reaction There was
much disorder and weakness manifest
at other points in the list OF specialtles.
notably in the local traction group and
Tobacco. But an active demand for
some of the railroad stocks on reports
OF large earnings and covering of shorts
in the specinltics brought the market
to a high level and n quiet tone.
During the hour after noon the mar
lSct seemed to have divorced itself ell
tirely from the dcmoralizinS influence
F, of the movement in Third Avenue. But
in the next hour the bears fell upon
the whole list, tooth and nail, forcing
down Western Union an extreme 3S4
and Baltimore and Ohio 27i. Weakness
spread from these to other points in the
railroad list and wide losses were effect
cd amongst the industrials. The local
traction group We're down from 2H to
oA. Leather over ., Rubber preferred 3,
American Hoop more than 4, New York
Air Brake . and many railroad stocks
from / to points, the latter Pennsyl-
vania. Pittsburg, Chicago, Cincinnati
and st, Louis dropped 4. The bears
rushed to cover Mt the decline. causing
rally of from to 2la in the stocks
which had shown greatest weakness.
The final downward plunge in Third
Avenue was offset by the sudden rise
in Sugar, leaving the tone in the gene
raj list confused and unsettled. but with
losses in some points in the railroad list
practically recovered. Strong showing
OF net earnings for january We're made
by Atchison, with an increase over last
year Of II Der cent; Erie With an in
crease Of "a per cent, and Tittsburg
Chicago. Cincinnati ana ST. Louis ond
Buffalo. Rochester anCfNI>irt sburg
Southern railway made u strong show
Ing of gross earnings for The third week
In February. London bought stocks
5 hero, but not on large scale, Tile SUR
render OF General Cronic having ap-
parcntly been discounted.
The money market was firm. The
fact that The sub-Troasury had alb
sorbed since last Friday nearly six mil
lion dollars OF cash cannot he without
influence in the stock market.
Railroad bonds We're dull and irrcgr-
lar. Total sales par value. 81 800. 900
Government bonds continued their
buoyant advances. United States new
As ADVANCED 1iAc. ANA The Us, old As
and 0s &c. in The bid price, The total
sales of stocks to-day were G25l00.
New York. Feb 27.- Standard Oil
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