The times. [volume] (Richmond, Va.) 1890-1903, 1900-03-07
FINANCIAL AND
COMMERCIAL
Prices on Stock Market Were Very
Much Confused.
A SLIGHT FURRY in CALL MONEY
The Railroad List Yielded Unwil-
lins,y aud Only tc n Slight Degree,
and a Fair sprinklin. of
Gains Was Retained.
A SLIGHT FLURRYl IN CALL MONEY

NEW YORK. March 6.-Conditions
We're mixed and the movement OF prices
was very much confused OF the Stock
Exchange to-day Sentiment is CORE
SpondinSly conflicting among Tie specu-
lntfrc contingent. The situation may be
best described as one of wei:sng on the
part Of believers in higher prices. Those
having faith in a decline took advantage
OF the hesitation of the bulls and the en-
tire lack of outside interest In the STOCK
market TO make vigorous attacks at WI
nerable spots IN the market. The results,
on the whole. were favorable 10 inc
bears. They were very dfligent in seek,
ing out stocks which were. unprotected
by supporting orders and In offering them
down below the price level where sclllns
orders were known to be placed IN inc
stocks for the purpose OF saving losses
on any sudden decline.
The sudden fall in prices Of the stocks
thus selected and equally sudden and vio-
lent rallies gave ...e key to the character
of this selling. The furry in the rate for
call money in the late afternoon to 4 per
cent was n favoring factor for the bears.
but the actual effect was very small.
The early tendency to advance in the
railroad list was checked by the manou-
vres of the bears. and the more notable
advances We're about wiped out The
railroad list yielded unwillingly. and only
TO slight degree, in spite OF the very
light demand and a fair sprinkling of
gains was retained at the close.
Very earnest efforts were made to
weaken Sugar, but the utmost that could
be achieved was a thrce-point decline,
onerings of the stock being compara-
lively light. Third-Avenue was strong.
rising an extreme 5E. and impartng
sympathetic strength to the other local
traction stocks. The most notable exam
pies Of the bear tactics were furnished by
Ine International Paper stocks. the COM
mon falling AZ and rallying 2h: and the
preferred falling rs and rallyins =;
rallied 5; American Hoop, which fell ~
and rallied IL: Standard Rope and Its
bond issues, which were raided down
from 2h to S points, with rallies extend
ing from TO nearly 4 points, and Peo-
pies Gas, which fell ~ and rallied 23s.
Practically all the iron and steel stocks
were down from to 2 points, and many
recovered good portion of the loss, and
there were other striking examples all
through the list of specialties:. The bull
contingent are generally confident that
the Financial bill provisions for add,
uonal bank circulation will be enacteo
into law. and will result in a notable eA-
pansion of the currency. The large buy
ing of Government bonds by national
banks all over the country, and the ex-
pert estimates. which are current OF the
profit offered on circulation by the new
provisions are the grounds of this con1l-
dence Meantime the money market is
working constantly closer and the fav-
orable factors in the outlook are Ignored:
In the fear that the available supply ct
the expected relief.
The bond market was dull and irregu-
lar Total sales par value, $1.333. 900.
United States old as and IS advanced "
and the IS Il in the bid price.
Total sales of stocks were 436,20O
shares. including Atchison preferred. H.
$40: Chicago, Burlington and Quincy,
S.2,O; Northern Pacific. $500; Pennsyl-
vania, 2O.17o: st. Paul, $3.50: Southern
Pacific, G.275; Union Pacific. 6.S00; Amer
lean Steel and Hoop. 400: American
Steel and Wire 1910; American To-
bacco. $500: Brooklyn Rapid Transit,
l4.3S0: Federal Steel, 1910; Peoples Gas,
"a 1920; Sugar, 1926; Tennessee Coal and
Iron, 600.