The Saint Paul globe., 1900-03-28
STOCKS NOT 50 STRONG
MARKET WAS ACTIVE THROUGH
OUT, WITH VARYING CONDI-
TDONS IN PRICES
CAUSE OF CHECK a MYSTERY
Speculative Interests Paid More At
tentiOn to DiscOurag-ing POssi-
bLlIties, Even of COntin-
gent Nature.
Previous

Bar silver. New York. .597s 59A
Call money, New York........
NEW YORK, March 27-The stock
market continued very active and varied
today, but there was an appffe ca DIG aIe
check to the upward moyeneiit OIL pLiSes p1,,.,es
and a distinct falling off In the Voluine
of the demand. The disposition to reallze
made itself felt In additional STOCKS 4s
a consequence the market came TO tnal
condition during the day which the pro-
fessIonal operators called tired. Its aD-'
sorptiye power was impaired, and the
weight Of profit taking proved TOO mucH
for many stocks which have been most
prominent in the recent upward moye-
ment This was conSpicuouSly so OF the
Southern group of trunk mes, llcluo,
ing Pennsylvania. Norfolk 6S NesterH anu anu
Baltimore & Ohio The stocks OF the
latter company fluctuated widely all day
and were under very palpapie aaIlpu- ,
lation. The common and preferred slochS
were again ostentatiouSly brought TO II
palsty in the late dealings, Inc purpose
of the maneuver was evident from the
suggestion set afioat that II the Baltl-
more & Ohio common without paying
dividend could cross the preferred stock
other common stocks in the same Sltua-
ton might do likewise. The PACING
had to absorb a large amount or realiz-
ing and Southern and southwestern
groups were affected by the same cause.
The bituminous coal roads also came to
a halt.
Other points or strength ueFelopeu III
the list and the net changes show large
proportion OF gains. The general tone
OF the market. however, was ny no
means so strong as yesterday and the
transactions were on a smaller scale. The
coalers. the ~hgh-prlced industrials, the
iren and steel stocks and local fractions
all showed evidence of strength and there
were some conspicuous advances In
stocks not usually traded In to any eX-
tent.
1t would be difficult to assign cause
for the check to the advance, but spec
ulative interests paid more attention 10
discouraging possibilities even Of a. con-
tingent nature. Thus some question was
allowed to rise Of the future of the money
market, although the present tendency
is all towards greater ease, rates for
call loans dropping to per cent late in
the day. The banks are getting cash on
Subtreasury operations and the interior
continues to remit to New York in pay
ment Of loans incurred for the purchase
of government bonds. but the completion
of payments of the premiums on govern
ment bonds offered for conversion will
treasury as long as the governments
revenues continue 50 largely in excess
of expenditures.
A suggestion of another drain on re-
sources for government account is con-
tanned in the sailing for Manila today
Of the Transport Sumner. taking out
in the Philippines. The fact has already
developed regarding LondOn's buying of
stocks recently in this market that the
funds for these operations are due to-
loans secured in this money market,
which explains the firmness of the ster-
ling exchange market in face of the
London buying and the indifference Of
the London speculative movement to the
stringency of the London market. Lon
don took profits on a large scale today
and its selling Of stocks about equaled
its buying. A number Of strong returns
Of net earnings for February was disre-
garded IN the trading.
The bond market was not so active as
yesterday but large business was done
at advancing prices. Total sales. par
value, $4,SS5, 900. L. s. 3s reg advanced
y and do coup and new As a in the bid
price. The old as declined y and the SIS
Il per cent.
STOCK QUOTATIONS.
Furnished by Charles H. f. Smith &
Co, members Of the New York Stock ex-
change, Pioneer Press building. who have
direct wires to Chicago and New York
Closing prices are bid: