Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-03-22
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, MONEY, Exchange. Bonds, Grain,
Cotton, Provisions, Etc.

New York. March 21.-There were I'M
pressive elements OF strength in the
stock market to-day, due to the large
and confident buying OF some of the
railroad stocks. The market was not
very broad, the demand being restricted
TO compare lively few stocks, and there
was not much evidence OF what is
called in Wall street public interest i'll
the stock market. The buying was I'M
doubtedly based however, Oh the OK
pectation that the public will shortly
come into the stock market, ana APP
parently the. present movement mas
been inaugurated with view to afford
ing an object lesson in increasing
values. the outside public usually COM
ing In only when prices are invitinssy
low The price movement to-day was
actively manipulated and was carefully
nurSed. 1t Is based primarily upon Inc
generally prosperous conditions OF bust
ness. the high level of railroad earn
ingS, which is being maintained, and
the symptoms of an early relaxation
In the money market. While the move
ment thus far is confined TO the taxing
on of stocks by wealthy professional
operators or by insiders in the various
properties it is to be remembered that
such movement is II necessary fore
runner of the broader and more COM
prehensive advance which comes with
an active speculate ton. The reversion
OF the Third Avenue to the strong
hands of the Metropoltan affords not
little relief to all circles in Wall
street as not only removing disturb
ing influence from the stock market,
but business circles generally. The
speculative movement to-day had some
basis in the relief afforded by this de-
NeloDment I'm Third Avenue affairs.
The shorts in this stock spent another
bad day to-day, The price running up to
liz and iluctuating between that and
100. The other local stocks were ac-
tive. but showed II notable tendency to-
wards relapse late in the day. The con-
vincing evidence that Third Avenue
stock is corncrCd leads to diigent
efforts on the part of the boar operators
caught short to effect IL private settle
ment. The possibility of such n result
makes the professional traders timid
and cautious about operating in the
stock after the recent violent advances.
There was Il disposition to refrain from
active operations elsewhere in the list
Whlle Ihrd Avenue WAS going through
lis erratic changes. 1t was after the
stock had become rather quiet that the
aggressive demand developed for the
Pacifics. including Missouri Pacific and
Southern Pacific, the Baltimore and
ohio stocks. PENNSYLVANIA and Norfolk
and Western. Baltimore and Ohio and
Union Pacific We're easily the leaders
of the movement the former advancing
an extreme AS net and the latter 2X
There were sharp gains in less active
stocks. including the Wheeling and
Lake Eric stocks. Great Northern pre-
ferrcd. Chicago Terminal Transfer.
minneapolis and st. Louis and II few
others.
London bought stocks here literally
and Sterling Exchange cased off as n
result.
New York exchange at interior points
was rather easier, but the local money
market showed no hardening tendency
Dealings in bonds were smaller and
price changes were Irregular. Total
sales. par value. So, 600, 600.
United States IS. old As and IS adj
vanced &c. and the new As. declined
&c. in the hid price. The total sales
of stocks to-day were 40 500 shares.
New York. March 2l-Standard Oil.
5.20@525.