Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-01-28
MAR KETS.
Nl'IA { IN D COMMERCIAL
4 l q IS snay change, Bonds, GRAIN,
gQtt ton, lPEtoYislons. Etc.


5A prsswere rife touching the plans
- fogis1n l apctng he tloating debt of this
IA SSAnn any Ind ia enioIs followed quiotly
FL run Ii The market was disposed
I st esist3 this 1uence and hardened,
tiess leading in point of ac-
Ssts Ind streng tn.
i IS shsSr RThef cheerful tone of the week.
sstty iade rev eRs, the good railroad
rs afninES for the third week In Janu-
Is ssss a5syysEa and thee expectation of strong
1nnls st tenentI prompted buying. The
sS Dstenl bers statement OF st. Paul check
ssd the mo vehlent, on account Of the de-
& ease of $4,000 in net earnings for
thes m orth by reason of increased oper-
ting seSpenses.9eT The decrease in net
5 earTin SIS OF the system for the fiscal
thus brought UP to 1899, 900. The
NC rire was offered down q sharp fraction
he showing, Burlington closely fol-
AZ st16Mingi and the whole list showing the
tsssetf ct. as There was but an Indifferent
81 raj ly on the bank statement, and prices
%%:sSdiysfe slightly lower than yesterday at
the g close. n The proportions of the loan
ss nSrease again proved a surprise,
ssssGt hous The loan expansion was only a
sisS fro ctton OF the Increased credit facili-
sti es afforded by the cash increase.
s5sSssS ~ here has been no borrowing demand
81 manifest on the: Stock Exchange during
q the week and the time loan and mer--
ssscan tile paper markets have been re-
ittoIlSu3s.uull,l ~ dllnOuSn n bankers nave
'gslS beer Offering increasing inducements
'sssto place g loans The operations have
8issbeenf known Of sufficient size to account
Fsfor6t he loan expansion OF S7,515,600. A
n small contingent of professional oper-
tors lin stocks and foreign arbitrage
ffsbrokers nave done practically all the
Il trading onstlle Stock Exchange for the
igpast Week dealings have not exceeded
4 lin olume those OF last week, and in
II bonds have Shown q progressive de-
tSsorease. ggSSS ,sj
II SSS There We're rather wide changes in
/ sprtces% on several days, but they were
Il but vibrations due to professional ma
Stsniprlat on and the closing of contracts
81 served to draw prices back to last Sat
lrtay y g level ,around which the market
IN oScflla ted.sS5 The reasons for the excess
liz 81 ve dizziness are not entirely clear, as
ls{ss many conditions conform to those in
former periods of great speculative ac-
Ss.tlYlty,5S notably the large refluX of
z money to the reserve centres from ac-
r. tive use In business and uniformly IA
!, ora bl eSreports of business and trade
he4e is q large body In Wall street of
IssSss 81 ppiRion that the dullness is only
-: SCI suspense
over the Outcome of Ner.awar in South
& riGa,s but two events there during the
week induced considerable speculative.
activity Iii :Ilondon without. awakening
any Interest in the New York market
outside of gforeign arbitrnge offices and
u he professional traders.
Prices OF Internationally listed stocks
Responded sharply hs the narrow mar
10 lSet made the arbitragc operations eff
Y fectiye In Keeping prices near the Lon
ssss don parity. This is not conclusive evil
H dence. though 1t is against the assump-
vs. ton Of the dominating influence OF tho
4 South African war upon speculative
sgS ssntIinen The taking OF Spion Kop
f-1x-t Ind l. .,l<z~@
AZ market without inducing any appreci-
rs q Bile buying Of stocks here in the one
lease or,selling the other 1t is safe
~ conclude from this that the worlds
4 commerce. and finance have so far ad-
81 listed themselves to the interruption Of
sssst he Transyaal gold supply from flowing
sa into the world IS stock us not TO be Sc
( 5yere1Y shaken by the events threaten
ling a prolongaton OF the interrupt
s% ions
saSE5l Current returns from the treasury
show a.day- to-day surplus, owing to
thea Wy revenue collections The dcpos-
slttsE of internal revenue collections in ma
D tttonal bank repositories are also ap-
Y y. zz7lGaa ching the limits provided for by
18th e Government bonds deposited with
SIS heati treasury by the banks as security,
after3whfch the taking up of the sur
y plus by the treasury will be resumed.
sFFSl II he; uture &, Of the London money
Observation-Disclosures nuCn4 upon WneLner
ST. he tBnnk OF England's policy OF recu-
ION is In preparatio for Govern
y inent lpan Issues to provide for war ex-
! psnSesN-an5evehti which would probably
If draw gold from New York. Added to
n these considerations is some feeling of
5sdohbt and questioning aroused by the
ssSSVerySfr free discussion and criticism of a
ssST ews IL ork trust company. These ac-
& counts, while of Importance in them
AZ se1yes; are of even greater Importance
n IN the principles involving in the plac-
81 ne; of loans looking to the promotion
Se rne emit hat prices of securities are at an
connec ion with the fact that vast
xtrene high .pri9es last year, COM
pared wtth which present prices repre-
xkHSntS heavy Josses and discoura cement
,yDr inability to buy.
The falling off in the rate of inflow
a SSpf money seeking employment has
aEeTYsd TO decrease the demand for
lsb3nd BIB. The market has continued firm
81 or the most part.
~ United States s4,s declined Il the 9's
81 and old As registered Is, and do cou-
pom ~ in the bid price.
The total sales OF stocks to-day were
,fss %, 900 shares.
s ssyeW York, Jan. 27.--standard OIL 5ts
~ $50.
NEW YORK STOCK MARKET.
s Ess % " s'Ss $'s Pr
& ~ ga " and L