The times. [volume] (Washington [D.C.]) 1897-1901, 1900-03-15
FOREIGN HOUSES SELLING
Stocks Uneasy Owing to Rejection
of Peace Proposals.
Money Market Uncertainties Also
Assist in the SaRGiuR Conditions
of the Day Large Increase in
February Exports Over Last Year
Third Avenue Shares Go Higher.

NEW YORK. March l4.-For the first
time in several weeks foreign houses we're
sellers OF stocks in this market 10 con-
siderable extent, about 25,ooo shares being
disposed OF on this account While the
amount sold was not OF itself sufficiently
heavy 10 account for the sagging tendency
of the market the altered disposition Of
the dealings for foreign account, in con-
nection with the rather pessimistie senti-
ment OF the professional element, carried
more weight in the days dealings than ii
would otherwise have done.
Although consols were fractional higher,
the general London market was reported as
showing a somewhat reactionary tendency.
Probably some uneasiness was excited by
the refusal OF the British Government TO
entertain the peace proposals of the South
African Republics. as it was apprehended
that its action increased the probabilities
of outside Intervention in the situation In
South Africa. and that, at all events, it
would probably lead to more or less diplo-
matte tension.
Money market uncertainties, however,
probably counted for more in shaping the
course OF prices for the day than any other
circumstance. The definite enactment Of
the new Currency bill. through the APP
proval OF the President today, was virtual
ly without effect upon either speculative
sentiment or the money market. The lat
ter continued TO rule firm, with the bulk of
the days borrowing on call effected at
from 1-2 10 5 1-2 per cent Today's fig-
ures showed a loss to the banks in their
transactions with the Sub Treasury since
Friday of IS, 500 600. hence the necessity OF
early relief to the monetary situation
through the Treasury disbursements Incl
dental to the refunding provisions of the
bill is patent.
Sterling exchange conditions were little
altered. Apart from the rather steady for
eign purchases of stocks fer the past thirty
days, good deal of light is thrown upon
sterling exchange conditions through the
publication today of the Treasury's regular
monthly statement of the country's for
eign trade.
While imports for the month OF Febru-
airy increased ss,50o,000 over those for the
same period OF last year, the country's
exports increased nearly s26. 600 600.
Hence the month shows A total excess of
exports of nearly s51. 600, 900, as against
$33 ,57s, 600 last year. Fo- the ended eight
months OF the fiscal year. however, the
country's excess of exports is more than
s51 900, 600 less than for the same period
Of last year
The report of the temporary receiver of
the Third Avenue Railroad Company filed
with the United States Circuit Court to-
day was followed by an advance in The
price OF the stock. though for what rea-
son Ii would be difficult TO say. The stock
was again, In respect Of activity, a con-
spicuous feature Of an otherwise inactive
market, and its wide and erratic huctua-
" pOf h.z n
erai list.
The industrials and the spscialties, not
ably the local traction shares, were gen
orally weak. notably for Brooklyn Rapid
Transit. This quarter OF the market ap-
peared to be generally affected by the
franchise tax possibilities, and Brooklyn
Rapid Transit-seemed to suffer also from
the peremptory order of the Railroad Com
mission directing the company to file the
report of the earnings of its operating
company for the December quarter
In the initial dealings professional eff
forts were apparent TO excite some favor
able interest in the granger shares, and
notably In Burlington and Quincy, the ma
nipulAtion being accompanied by talk OF
favorable crop prospects, but owing TO
the exceedingly limited outside interest in
the market the movement made little
progress. There We're other movements in
particular stocks which were of interest
by reason of their extent, but In regard
10 which il was not possible TO assign
definite explanations.