Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-05-08
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bonds. Grain.
Cotton, Provisions. Btc.

New York. May There were seve-
raj points of weakness in the stock
market to-day, and these were suffi-
cient to turn the room traders to the
bear side OF the market. The opera
lions of this professional element were
the only ones apparent outside OIL q few
stocks, and they reflected no conditions
or even well established opinions re-
garding the general outlook. The de-
mand for stocks continued quite inSig-
nificant, so that the moderate offerings
in large part for the short account of
room traders made an impression easily
upon prices, but the decline failed to
Induce any liquidation, and prices
readily rallied when the bears came to
cover. The steel shares were the most
conspicuous in the trading and were
weak from the opening. The reported
closing of a mill of the Federal Steel
Company induced the early declines.
which was languid and sluggish. The
announcement of the resignation from
the Board of Directors of the Ameri-
GAN Steel and Wire Company of the
Seligman representatives and their
statement of irreconcilable objections to
Chairman Gates and hts policy caused
sharp further break in the steel
group. in which the Federal Steel
shares were rather more effected than
Steel and Wire. Pressed Steel Car and
American Smelling were exceptions in
the group, the former rising over a
point Long Island broke sharply, after
Its recent notable advance on the alb
corption By Pennsylvania, and closed
9A points lower than Saturday. The
bonds of the company were also heavy.
The reaction was attributed TO specu-
lative proflt-taking and occurred on
comparatively small dealings.
In the railroad list, ST. Paul, Penn
sylvania, Union Pacific and Baltimore
and Ohio had rather q wide fall on
what looked like letting go of u specula-
tive account There were heavy blocks
offered of all these. There was q slight
show of strength in spots at the OPEN
Ing In response to Londons encourage
ment over South African news. but the
rise was but momentary The rally
after the break in the steel stocks was
not held. the members of the Eroup
generally falling again to the lowest n [
the close. which was heavy throughout
General Electric advanced nearly 8
Points in the morning, but saved only
1 point on the day
The money market continued very
easy and further gold exports to Paris
are exDected. 1t Is not believed that
any gold VIII go to London in the pres
emit conditions and at the present level
or exchange. which declined to-day
both for sterling and for Paris accounts
estimates of the amount to go on
Thursday to Paris run uD to $4,000. 0OO
but no announcements were made to-
day OF engagements. The bear raiders
during the day professed uneasiness
over the gold movement. as we'll as over
labor difficulties at various points. the
tendency of the Presidential campaign
and the reactionary course of business.
which. they argue. must have its effect
Oh railroad earnings
Railroad bonds showed a yielding
tendency in sympathy with stocks
Total sales. par value, S1,735. 900.
United States new As advanced sc.
aha me reminding rs. when Issued. SIS
and old As declined &c. in the bid price.
To-day's total stock sales were go. 500
shares.
New York. May 7.--Standard Oil.
5.4015.45. ''