The times. [volume] (Richmond, Va.) 1890-1903, 1900-03-28
THE |. :S J; I < MARKET 1 /; /. l 4
N'As VERY ACTIVE
Though There Was an.Appreciable
Check to Upward Movement.
RAILROAD STOCKS FLUCTuATIED.
The General Tone of the Market Was
by no Means SO Strong as on the
Day Before and Transactions
Wore on Il Smaller Scale.

NEW YORK, March 27.-Thc stock
market continued very active and varied
to-day. but there was an appreciate
check to tho upward movement OF prices
and a distinct falling off in the volume
of the demand. The disposition to +reai-
lie made itself felt in additional stocks. :
As consequence the market came 10
that condition during the day which the
professional operators called tired. lis
absorptive power was impaired and the
weight of profit-taking proved too much
s for many stocks which have been most
prominent In the recent upward move
ment. This was conspicuously so OF the
southern group Of trunk lines, inciud-
ing Pennsylvania, Norfolk and Western
and Baltimore and Ohio. The stocks OF
the latter tuctuated widely all day, and
We're under very palpaole manipulation
all day.
The purpose Of the manouvering from
the suggestion set afloat that II BAIT
more and Ohio common, without paving
a. dividend, could cross the preferred
stock other common stocks in the same
section might do likewise. The PACING
stocks had to absorb a large amount OF
realizing, and the southern ana SOUTH
western groups were affected by the same
cause. Bituminous coal roads also came
TO a halt. Other points of strength de-
veioped in the list, and tho net changes
show a large proportion of gains.
The general tone OF tho market, how
ever, was by no means so strong as yes
terday. and the transactions were on
smaller scale. The coalers, the high,
priced industrials and fractions all
showed evidence Of strength. and there
were some conspicuous advances in
stocks not usually traded in to any
extent.
1t would be difficult to assign cause
in any news of the day for the check.
but speculative sentiment accorded more
attention to unfarorable possibilities,
even OF a contingent nature.
The banks are gaining cash on Sub
Treasury operations, and the interior con-
tinues to remit to New York in payment
of loans incurred by the purchase OF
Government bonds, but the completion
of payments of the premiums on Govern.
ment bonds offered for conversion VIII
result in renewed drain to the Sub-Ireas-=
ury SO long as the Government reVe-
nue. continues so largely in excess CT en-
pendtures. Also, the transport Sumner
sailed for Manila to-day, taking out
81. 30O, 600 for the paymaster's department
in the Philippines. London's recent BUY
ing of stocks in this market are Que 10
loans secured in this money market,
which explains the firmness of sterling
exchange market in face of the London
buying and the Indifference OF the Lon
don speculative movement TO the Strln-
Eency Of the London money market.
london took profits on a large scale i TO-
Gay, and its selling OF STOCKS ABOUT
eoualled its buying.
The bond market was not so active as
yesterday, but a large business was done
at Advance prices Iotai sa!ss' par ra,siered
advanced y and do. coupon ana new ';, as
"a in the bid price. The old As dechneo
,. and the IS Il per cent.
The total sales of stocks to-day were
9O3. 400 shares, including Atchlson, 44o,-
500: do. preferred, 25,S63; Baltimore ana
Ohio, 1885; Chesapeake and Ohio, 1910;
Chicago Great Western. 400; Burning
ton and Quincy, 9,2l0; Rock Island, TO-
oaO: Denver and Rio Grande,, 400;
Louisville and Nashville, 1850; Mammal
tan 1925; Metropolitan Street Railway,
ESQ; Missouri Pacific, 1870; New York
Central B.:;95; Norfolk and Western, IT,
40 Northern Pacific. %, $50; Ontario ana
Western. 20.s;25; Pennsylvania, 2I,12O;
Reading. 1900; do. first preferred BLU
ST Louis and Southwestern preferred'
$780, st. Paul, 7,750; Southern Pacliic'
a@S75; Southern Railway. $500: DO pre-
tered. 500: Texas Pacific. $50: Union
Pacific, 1920; American Steel and WIRE,
10 900; American Tobacco, l0,3l4; Brook.
lyn Rapid Transit, 36.160; Colorado tuei'
and Iron l2S55; Federal Steel, 36, 40;
National Steel. $500; Peoples Gas,
7,SGo; Sugar, 65,2S5.
MONEY AND 1IECHANGE.-Money on
call easy at 30 per cent; last loan at 5
per cent; prime mercantile paper, iain.;s
per cent Sterling exchange firm, with
actual business in bankers bills at 81. Sasl
for demand and at 81. S2as al .S2lh for sixty
DAYS: posted rates, 81 SSd4. S3lh and S4.S6!h
dp4 81: commercial bills, S4.S11.G4.S2. Sill
Yer certificates, G0AG61A; bar silver,
,SJs; Mexican dollars. 41a4. State bonds
inactive: Government bonds irregular;
railroad bonds strong.