The age-herald., 1900-03-20
MORE LIFE IN THE
 STOCK EXCHANGE Disposition to Discount Relief to
 the Money Market THIRD AVENUE AGAIN WILD A Heavy Attack Was Made on the Iron and Steel Group, Based on the Threatened Strike of ~ Machinists
 
THIRD AVENUE AGAIN WILD

New York, March 19.-The stock market gave evidence today of disposition on the part of the speculative contingent to discount the prospects of relief to the money market for funds to operate with, and while there were symptoms of relaxa- tion in money rates, the supply Is still ex- tremely restricted. Lenders are. inclined to hold out for high rates on the assump- tion that interest rates will not relax until after the April 1 settlements have been disposed of. Borrowers take more hopeful view of the immediate outlook and are inclined to await the expected early easing of rates.
 There was an appreciable stirring of speculative interest today which was no tably manifest in the railroad list, but which was mostly confined to few stocks Baltimore and Ohio was the most conspicuous with rise of points Mobile and Ohio and Minneapolis and St. Louis preferred rose ? points, The bears made attempts to obstruct the rising tendency. They first made a raid upon the New York stocks on the ground that tax levied under the new franchise tax law wdM be consid- erable, as to threaten their ability to pay specialties.
 Later an attack was made on the iron and steel group based on the threatened ! strike of machinists. Neither was effect i've in breaking tip the strength. In fact , the railroad list showed more hestitation { in face of the violent rallies in the local ] traction group than in the weakness of the pecialsties.
 It is we'll understood that the vicissitudes 2 of the New York stosacs nearly con- < cerned with a rivalry approaching the ss character of a feud among some of the .amost powerful financial interests in the !. street, and peaceful bystanders have been < shown to be as likely to be injured in this 5, conflict the actual participants.
 The chief episode in this conflict today : was the severe punishment inflicted upon ~e the short interest in Third avenue. This stock touched 6612 in the early decline and reached S51a several times in the violent fluctuations of the bast half hour of trad dng. Price changes reached as much as one-haf poirJt below sales. Metropolitan recovered an early loss in sympathy Lon don bought quite freely of a few stocks, especially the Atchison and Union Pacf- les line total purchases on this account of all stocks were estimated at 3O,OOO shares.
 Relief was manifest in the London money market due to disbursements on government account Neither the easy money in London nor the large buying on London account here had any effect on the market for sterling exchange which held steady. New York exchange at Chicago Jumped to 35 cent premium today, compared With a discount last week, and the propor- tlon- of absorption of funds by the New 1ork sub-treasury Is much smaller than : Tor the same period last week.
 Operations in the railroad bonds were active and strong today and well distrib- uted. Total sales, par value, s, ,795. .OOO
 OnJted States bonds scored a further snarp decline suggesting thel liquidation of noldings by recent buyers who are induced 10 take profits on the high prices United States 3s, old As and 5's declined 1 per cent; refunding 2s when issued %c and new As Ac in the bid price.
 New York; March 19.-Money on call. firm at 4g5 per cent; last loan, per cent.
 Prime mercantile paper 5Q51s per cent
 Sterling exchange, quiet, with actual bust ness in bankers bills at $4.S5% for demand and at $4.S2 for sixty days
 Posted rates $4.S31s and s4S7
 Commercial bills, $4S11s4S1%. 5 Silver certificates, 60A@61A
 Bar silver, 60.
 Mexican dollars, 47%.
 Government bonds weak.
 State bonds strong
 Railroad bonds strong
 (By Private Wire to Murpbx, Q.