The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-03-16
EiuauciaI.
THE STOCK MARK EFT.
Interest in Sugar, Third Avenue AT
Burlington.

Interest in Sugar, Third Avenue and
Burlington.
New York, March 15.-The principal
centered in Sugar, Third Avenue and
Burlington. The rest Of the market
gave evidence of some disappointment
over the non-effect of the currency and
refunding law. Prices were sustained
for time by the strength of the three
stocks mentioned and some others less
prominent. Burlington was most con-
sistently strong and gave evidence of
manipulation said to be by pool form
ed to advance the stock. It's extreme
rise was 3-S. 1t had the most effect
on the other grangers but served as a
| tonic on the whole of the railroad list.
The iron and steel stocks, as a group,
We're inclined to firmness on the conf
dence expressed by trade publications in
the maintenance of prices. Third Ave-
nue. was feverish and active all day.
operations against a large outstanding
short interest and the stock advanced at
oen time above 70 compared with SO on
drive at the opening The violent
fluctuations in the price reflected the
doubtful and conflicting opinions OF
SPECTATORS in the stock. 1t closed with
net gain of SIS, Sugar was not so
erratic and did not move over so wide
a range, but it's extreme rise of IL,
after an opening decline, gave way to
reaction in the late dealings and 1t
closed practically unchanged. There
was a decided inclination in the late
transactions to throw over stocks by
tired holders and the closing was quite
active and weak, the earlier gains ex-
tcept in few cases being wiped out.
Reading first preferred fell sharply
nearly two points on the reports by
trade authorities of softness in the an
thracite market. Peoples Gas was also
conspicuous in the late break.
The general expectation Of poor
bank statement was the underlying
means of selling. The rate for call
loans was however rather easier than
yesterday, under the influence of divi-
dend disbursements. The prevailing
rate was per cent and loans were
made at per cent. New York ex-
change at Chicago hardened sharply to
ten cents discount compared with TWEEN
ty-fve cents yesterday and there was a
similar movement at other points. But
the sub-treasury made another large
draft on the cash resource of the
banks, bringing its total Withdrawals
for the week thus far up to $4,273, 900.
AS the surplus last Saturday was below
sc, 900 900 and the currency movement
is generally believed to have been in
favor of the interior since then. While
the loans of the banks have evidently
been further expended 1t Is difficult to
believe that anything can be saved in
the way of a surplus for the banks this
week. The report of a deficit is bound
to have an unfavorable sentimental eff /
feet on prices, however soon relief may |
be forthcoming from new bank circu |
lation or the disbursement of the gov
eminent bond premiums. London sold
stocks In this market, apparently on
account of the conditions Of the money
market there which are called stringent,
and which the statement Of the Bank of |
shows no prospects of improv-
ing in the immediate future.
Business in bonds continue on large |
scale, but prices yielded in some por-
tons of the list, Total sales, par value, |
81, 800 600.
United States twos and new tours de-
clined 1-2 and the old tours and fives Ia
In the bid price. -ss.,
rssr rn,x- .Y,,<,.- ar /, r.u, %