The sun., 1900-03-17
FINANCIAL.
General Situation of Yesterdays
Stock and Money Mar
ket Reviewed.
BUSINESS AT A STANDSTlLL
The Market Yesterday Duli and
Prices Inclined to go Downward.
The Tendency in This Di-
rection is Expected
Today.

Today. /
The stock market yesterday was dull.
Transactions were almost at standstill.
The real tendency of the market yester-
day was more downward than it ap,
peared to be on the surface. This ten
dency is expected to continue today. al /
though the bulls may try to conceal sales
in the general list by putting up indi-
yidual stocks, as they did in Third ave.
nue. and Burlington on Thursday. That
the bank surplus will be completely
wiped out tomorrow is now almost GER
tain. Some relief will come next week
with the bond premium payments, but
even so, most of the banks will be IN the
position of having to call in loans In
order to bring reserve up to proper
level.
Speculation for the rise has never been
seen under such circumstances, and
IL is not expected to see one now. For
those who are already short IL is ADVISED
to await a further reaction and to be
content with moderate profits. The
market is narrow enough 20 rally Ire
nnently on the shorts but should be sold |
an bnlees. Sugar, Brooklyn Rapid !
Transit. Burlington and B. x 0. are
favorites for bear operations.
In London the market for American
securities rules firm. Prices are practl'
cally at New York parity.
~
| New York, March 1G.-R. G. Dun
Co.'S weekly review of trade says:
)l The new monetary act which was sign
} cd and took effect ON Wednesday has not
3 affected business perceptibiy as yet. De
7 signed as a barrier against future harm,
s | it was by some expected to have imme'
diate influence through provisions regard, loo
5 | ing bank circulation. WRlle ez,iVo,ooo
s will be added to New York circulation
s the increase thus far indicated wall De
5 mainly in the interior, affecting the chief
4 monetary centers only by lessening feli
3 ance upon them when more currency Is
8 wanted. The speculative activity when
3 some anticipated does not yet appear.
8 Stocks have changed very little, though
q some advance was made on Monday, ana
9 foreign buying amounted during the week
2 to 1T5.000 shares net. Raiiroad STOCKS
8 close only II cents per share higher fol
3 the week and industrial stocks ~ cents
2 higher. but street and gas stocks @l.".
9 per share lower. Earnings have not
| been as large this month as in February
l partly owing to storms in some sections
| Int still show gains of &C per cent owe
| last wear and 12.S per cent over lS9S.
. The report of foreign commerce i'll Fen
SIS runry was surprisingly satisfactory
Though the month was short. they nav
been exceeded i'll only six months in til
history Of the country and in daily aver
age. S4217349. never surpassed eXceI
:" in December, 1898, with S4.446T93 an
November, 1898. with $4,32G,59 dali.
Use The exports of cotton were in value $50
ire S39,3T1, and the domestic exports excl
ar siye Of the chief staples were in yalu
lze $4S, 206,S4S, or $1.T21,6 per day, a
ICY amount never equaed except in Deceu
ey ber last, when such exports averaged Sl
72S,193 daily. The excess of expor
ra- over imports, s50,991 ,612, raises the ba
ms ;nce due this country on merchandise a
be count to $364, 500, AGA for eight months.
The Grain Market.
ch- The grain movement is fading in il
Wv. portance. Corn exports have been in tv
the weeks only 5,497 ,102 bushels, again
nee 7.126.553 last year. though prior
oil March 1872, ,9S2. .623 bushels were eXporte
against 80, ,S54, 1854 last year. The whe
,si- movement is falling behind rather lie
ear than it has been in recent weeks, OWL
ain partly to large Pacific shipments. \
lies antic exports in two weeks have be-
am. 3OOg 45i bushels. flour included, again
sig G229,47S last year, and Pacific expol
will 2,566,017 bnshels, against ], ,42I,3I6 la
,ers year. While government estimates
wheat III farmers hands showed sui
Sc cient quantity, with visible supply
Iers meet, besides all home requirements,
are large foreign demands as those of Ia
sed year and yet leave large surplus, the
hat is no reason to expect that last yea
lat- foreign demand will be equaled. T
iral price advanced 29s cents for the wee
avy and corn advanced 2,44 cents.
to Jealous efforts to excite new confden
G. in higher prices for iron have not h
are the desired effect. While various mark'
the are called stronger, not Il quotation b
advanced, but tank plates at Pittsbt
ans are Il shade lower mt 2 cents. Easte
ibu. gray forge has sold there in conside
sels bic quantity at 5000 against S2l
eed- local forge. and southern No. / fount
init is selling here at S22.75 against $23
for northern No. !. Bessemer pig is S
,nce held at S24 at Valley Mills, though SIN
nda- lots are obtain;sae at Pittsburg at $21.
Ad- Many large contracts are mentioned
owe in prospect, but not one as closed,
e of cept structural contract Tor the COVE
1 of ment printing Office. Much work IS
Il in ferred because of the builders and !
the chinists strike at Chicago and much
ence cause of doubt whether prices can
held with the output exceeding consuT
t of tion over LOU tons per DAY.
ird's Failures for the week nave peen ad
iii If in the United States against 1S9
mes wear and % in Canada against 30
part year.
Record Month For Exports.
nent Washington, March 16.-The montl
wy February, 1900, has made the most
part ,,.a4an. - th;s canntry's fore;gn .
espe- ' niss' M aSnorts dnr;no tbot mo
ice. iheiee es oon ono fnr a,,orv bne;,
!. day in the menth, and the total exp