The times. [volume] (Richmond, Va.) 1890-1903, 1900-02-24
STOCK MARKET
CLOSED FIRM.
But With Net Loses Practically All
through the List.
PRICES OF BONDS DECLINED.
PRICES OF BONDS DECLINE
Pressure Against Individual Special
Tics. Which Was Manifested at the
Opening, Served to Unscttlc
tho Market.

NEW YORK, Feb. 23-Thcre was
light accumulation of orders over .no
holiday, which were executed AZ ~
stock market at the opening 1h's 'iioi
ing for outside account ArbitraSc pro On,
crs bought stocks on s,Ii nins ,,,ade in
foreign account, to cover SAFES inauI ~.
London at the higher Level. li uuesu az
the rumor, which found credencG on er
other side. of the surrender OIL lhe .;, nVo
General Cronje. There was coht!nuSu
absorption on limited scale OF me
stocks of some of the railroad comPailii AZ
which have shown eNlraoioI'. aai ,nd
crcases in earnings during ihe "Seh h,,,ar,
10 which was added to-day North II
Pacific with an increase Tor the sseoiu
week in February Of S139.3oS, OF ~ pSi
cent Western Now York ana en I.H,,.,
vania, of the btuminous coai si1 pt
showed an increase of IS per cent 6'!'
even at the opening pressure was 1ndni
fest against individual stocks amolES.
the specialties. which served 10 unset LIZ
tho market and eventualiS; 10 III Tba de-
tide in favor of the reactionlsts. me os.
preston was manifest at the opening AZ
Third-Aycnuc. Peoples Gas. Leather Gnu
Sugar At the day progressed o'nes
stocks came unoer pressure, aiiu oooH1-
cry The iron and steel group were me
first affected by the spread OF WEAKNESS
Tennessee Coal dropping an extreme .
points and American Hoop, Nauoi1ai
Steoi and Wire. Colorado Fuel and Re-
public Steel from l to ) points. ia.ei
the announcement of the DIVIDEND on
Consolidated Gas at the reduced rate
established since the local gas war was
in effect led to a raid on that specially,
with resulting loss of Az. Ruoper pre-,
ferred lost nearly points. MetroPoLIa d u
az. Glucose :31a and Brooklyn Union Gas
oil. Third-Avenue fell in the fall deal
inEs to the lowest of the day, showing
decline of points net. The. violent De
clincs had a sympathetic enect on We
general list, especially on the granger
and trunk lines. and declines In the ran
roads were extended to a point or over
in many cases. Fears that the cutting
of rates on grain would lead 10 ocInolai a
cation of freight rates had an influence
Apprehensions of higher money also had
to do with the decline. There was d
slight rally on covering OF shorts pS tlie
bears and in sympathy Win rise IN
Reading first preferred TO 39s. rms
made the closing firm, but at net losses
in practically all cases.
Preliminary estimates Of the movement
of currency by express TO and from the
interior indicate an increase in the snip
ments by tn beankS. but still greater
increase in their receipts, SO that the loss
on the interior movement is beheFed 10
be less than half million dollars Re-
ccipts of money by registered mail are
said by banking authorities to be suf1l-
cient to more than offset this. Losses
by the banks on Sub-TreaSrLy operations
some reason the opinion prevails that
the loan expansion will show a consid-
cradle falling off from the recent rate
of increase. More or less mystery sun
alta ches to the phenomenal increases IN
loans of last week and the week before,
and the disposition grows TO attribute
them to special operations, but further
decline in surplus reserves OF several
million dollars will inevitably be shown
by to-morrow'S bank statement.
The bond market showed decreased ac-
tivity, and prices declined. Total sales.
par value. S14. 325, 600. United States new
and old As and the SIS advanced u and
the 3S II in the bid price.
The total sales of stocks to-day were
409,4 shares, including the following;
Atchison preferred, 12.540; Baltimore and
Ohio, $751;; Burlington. T.0S1; Manhat-
tan. $3.50; Missouri Pacific. 100: Nor
folk and esWtern. 1850: do. preferred,
ing first preferred 17.4oo: Southern Pa
cifc, 5000; Union Pacific. 12,0c0, Ameri-
can Steel and Wire. 13.213: American
Tobacco. $500: Brooklyn Transit, TO-
Steel .13315; National Steel. 5,1si: Peo-
pies Gas. %. 702; Sugar, 1S,0G5: Tennes-
see Coal and Iron, 1915; United States
Leather, 90
MONEY AND ENCHANGE.-Money on
call steady at o@o1a per cent; last loan
at per cent; prime mercantile paper,
Ii&5 per cent. Sterling exchange easier.
with actual business in bankers bills at
S4S74G.S7A for demand and at SIS for
sixty days; posted rates, S4.S4lau4.S5 and
81 SolI1.SSE,: commercial bills, S4.S3M
4 .S31a. Silver certificates, 53$4 MGo24; bar
silver, I9ls; Mexican dollars. 41a4. Gov
eminent bonds buoyant; railroad bonds
weak; State bonds strong.
BANK CLEARINGs The total bank
clearings at the principal cities of the
United States for the week ending Feb
ruary 22d We're 81 So. S25. S7E. a decrease
OF 16 per cent; outside of New York
city, $50, o96 S44, a decrease OF 40 per
cent.