Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-04-07
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money. Exchange, Bonds. Grain.
Cotton, Provisions, Etc.

New York, April 6.-Speculation in
the industrials and the railroad stocks
showed q distinct dividing line to-day.
Both departments were extremely ir-
regular, but generally speaking the in
dustrials were strong and the railroads
were heavy. The sagging tendency OF
the railroads seemed to be due for the
most part to selling to take profits.
The volume of the buying demand was
very much diminished, and the real
izinS was conducted therefore under
that much disadvantage. The selling
was not in great volume. but when 1t
did attain to any proportions the down.
ward course of prices was quite fast.
There were some points of strength in
the railroad list, but the few advances
were not we'll maintained, and were
not effective in sustaining the rest of
the market. Pennsylvania was lifted
at one time over q point, and other
stocks to show strength were Balti-
more and Ohio preferred, Missouri Pa
cific, Burlington. Canada Southern,
and, after an early period of weakness,
Southern Pacific. The last named
stock sold off sharply in the morning
on rumors of discussions among the di-
rectors, which were circulated by the
bears and subsequently denied. This
was about the only railroad stock to
fehect any positive aggression, the
ton, but the other Pacific stocks were
sold more heavily than the average TO
take profits. London was free seller
with considerable influence upon senti-
ment, and the news of trouble in Brit
ish West Africa, and the new mshap
TO the British troops in the Free State,
prompted some selling at first hand by
the local traders. The industrials and
specialtfe5 made Il notable show OF
strength, each apparently under the in
1iuence of some individual cases. SUI
gar was bid up against the shorts with
the suggestion that recent operations
might have resulted in n transfer of
control. Peoples Gas moved up on
persistent reports of the absorption OF
the Ogden Gas Company. The Rubber
stocks were strong on the dividend
declarations and the earnings state
ment. Leather and Tobacco moved up
under manipulation. The New York
public utilities moved upwards under
a demand from the short interest. The
advance In each case was irregular and
was not fully maintained. Minneapolis,
st. Paul and Sault Ste Mario stocks
rose sharply without any explanation.
Preliminary estimates of the weeks
cash changes indicate Il favorable bank
statement tomorrow. Sub-treasury
operations alone have yielded 3d. 900
TO the market. The current movement
considerably smaller both ways than
last week, but the net gain for New
York is about half million dollars.
A further loan expansion Is expected
on account OF stock market activity,
but 1t will probably be partly offset by
the further liquidation OF loans for
holding Government bonds, which have
continued to come on the market.
Sterling exchange rose sharply to-day
under the influence of London selling OF
stocks, frmer money In London and
easier money here. The rate is now
within measurable distance of the gold
export point, and il the same condi-
lions continue for any length OF time
gold will likely go out in the immedi-
ate future.
There was n decrease In activity In
the bond market, and prices yielded at
some points. Some issues were we'll
taken at advancing prices. Total sales,
par value, S2,7S3,000.
United States refunding 2's when is
sued declined Il and the IS registered
advanced u in the bid price.
Total stock sales to-day were 696, 800
shares.
New York. April 6.-standard Oil.
5.36@5.42.