The times. [volume] (Richmond, Va.) 1890-1903, 1900-03-06
FINANCIAL |. 1 AND
COMMERCIAL.
Feyerish Fluctuations Of a Small
Number Of Stocks.
BONDS WERE RATHER DULL.
Market With Exception of Railroad
Stocks Was Unsettled in Late Deal
in.s- London Held Aloof
From Speculation.
BONDS WERE RATHER DULL.

NEW YORK. March 5.-Attention IN
The stock market continued to be largely.
diverted to the feverish and excited 1uc-
tuationS of n small number of stocks.
Manipulations by the bears were respon.
sible for the changes. In the case OIL
Sugar the operations OF the professional
traders We're interrupted by the uneN-
pected action of the directors in declar-
ing n quarterly dividend Of j X per cent.
on the common stock. This sudden tear.
ing aside Of the veil of mystery rather
non-plussed the professional traders, VINO
had counted upon a period OF uncertainty
until Wednesday,. in which to circulate
vague tips and to keep up an excited
flnctuation IN the stock, with opportu-
mites for prolit-takins both up ana down.
The cutting in half of the dividend was
about what Wall Street sentiment hau
settled upon. but coming suddenly upon
the half-executed plans of the specula-
tive contingent. it left them all at sea.
The stock opened under pressure. but at,
ter falling nearly points encountered
Very vigorous support, and was rallied
to 1o51s by noon A 2,o00-share lot was
came known of the dividend action
Enormous selling followed. and the price
slrmped by wide breaks. with occasional
spasinodic rallies. to 81. Fluctuations.
We're very wild on the recovery to par
The flood of offerings prevented the rise
above that, but on the reaction to rs
large buying was in evidence again, Whlch
rallied it to 99h, where it closed at
net loss of 13S In the half hour after
midday transactions in this single stock
reached the enormous aggregate OF
G2OO0 shares.
There were sharp breaks in Tobacco
and Tennessee Coal and Iron at the same
time with the slump in Sugar. but the
general market was not affected. In tact
the stock market gave evidence OF Its
relief over the settlement of this disturb
ing question by smart rally. many OF
the railroads rising to the best prices
of the day.
The market was unsettled in the iate
dealings by an attack on Steel Hoop, Peo-
pies Gas and Consolidated Gas, driving
them down ) to 4 points. New York
Central reacted "a, but otherwise the
railroad list was little affected. ana re-
tanned q fair sprinkling of net gains.
Third-Avenue, after having risen to :'St4,
was forced down to "a in the late deal
ings. and Tennessee Coal and Iron : SO
per cent. was made for call money in
the course of the late bear raid on stocks.
London held aloof from speculation
pending the presentation of the war bud
money rate hardened in London and in
Berlin. and the influence were. on the
whole, the side of depression. Further
reports Of railroad net earnings 1or jan
the fourth week in February did not
show as striking gains as those OF the
third week.
par value. 81. 100000. United States bonds
unchanged in price bid.
The total sales of stocks were $4,000
shares. including Atchison. 1888: do. pre-
ferred. 2a,6ao; Burlington and Quincy.
1900: New " rk Central 5000: Pennsyl-
vania, 1850: ST. Paul, .9,740: Southern
Pacific, $500: Southern railway pre-
ferred, 7,l3O: Peoples Gas, S.S25; Amerl-
can Steel and Wire. e,2ss; American To-
bacco, 1850: Brooklyn Rapid Transit.
2s.1S5: Federal Steel, G,45e; Gas, 37,6SG;
Sugar, 16O, SS3; Leather, $40.
MONEY AND EXCHANGE.-A1oney on
call steady at 2ii.G3la per cent: last loan
at ~ per cent; prime mercantile paper.
i1tG5h per cent. Sterling exchange soft.
witt, actual business in banfiers' bills at
S4Se1s for demand and a S4.S2& for
sixty days; posted rates. $A.Si@i.S4 1a and
!. 81 S1Ea4 IS; commercial bills. $4.S2@
4.Sols Silver certificates, 59%4 GCO34; bar
an. 4