Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-04-28
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
STOCKS, Money, Exchange, Bonds, Grain,
Cotton, Provisions, Etc. -

New York. April 27-Yesterdays
show of strength in stocks was dissi-
Pateo IN the course of to-days trading
on the exchange. The market opened
quite generally higher, and an attempt
was made to continue the upward rush
IN pennsylvania and Baltimore and
ONO. 1t was very soon found, how
ever, that the general demand for
STOCKS was quite Insignificant at the
hlgher level of prices. yesterdays OPP
eratlons having so far diminished the
snort interest that the demand from
mat source was no longer an effective
support. In Sugar especially yester-
days urgent demand from the shorts
was decidedly relaxed. The price was
run up after the opening to 1888, but
the realizing sales from buyers on the
recent advance overpowered the price
Oh the stock. 1t got back once again
above last nights close, and then fell
an extreme 6ss with a feverish and un-
certain rally There was the same alb
sence OF authentic news CONCERNING the
stock as on the advance, and it's move
ment was due cntlrely to technical
causes. The same was true OF the gem
eral market. The reaction was due to
the general recognition that yester-
days sharp advance was due to de-
mand from an over extended short in
terest. Some effort was made to COM
80 tNdStiOih ny biuulllS up ullleI-
ent stocks. There was a show of
strength at different periods in the To-
bacco stocks, the Leather stocks,
Brooklyn Transit and New York Cen
trail, but these manoeuvres proved I'M
availing to hold the market The OPEN
Ing strength was due in no small part
to the buying for London account.
which amounted to $4,000 or 10000
shares.
The railroad earnings reported for
the day were on the side of reaction.
st. PauFs net earnings for the day were
: on the side OF reaction. ST. Paurs net
earnings for March fell off by reason
of the high level of operating expenses.
The statement of the Reading company
and New Jersey Central for the same
period were distinctly weak. Following
the Ontaerio and Western statement OF
yesterday the reactionary tendency in
the anthracite group lis sufficiently ex-
planned. The probability of a favora-
BILE bank statement tomorrow failed
to help the market. The gains in cash
from interior sources are expected to
show an increase of nearly $4,000, 900
over last weeks gain from the same
source, hut on the other hand the gains
from the sub-Treasury by the banks
have fallen off almost as much from
last week. On yesterdays operations
the banks lost to the sub-Treasury
some S33S,0O0, and that Institutions
debit balance at the clearing house to-
day was again below 100000. The de-
cline in the Government bond refund-
ing onera tons has evidently brought to
an end the process of disbursement to
the money market by the sub-Treas-
ury. The weeks gain by the banks in
cash Is, however, near S5.000,000, thus
promising an increase in the surplus
reserves even though the loan expan-
sion has been quite liberal. No gold
was engaged for export to-day, which
was according to expectations.
Whether there Will be Il further move
ment next week is still open question.
Railroad bonds held firm to-day, but
the volume of business was rather
light. Total sales, par value. $2.4s500O.
u. S. new as advanced y in the bid
price.
Gi4, 200 shares.
New York, April 27-standard Oil.
5.36Q5.43.