Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-03-23
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money. Exchange, Bonds, Grain,
Cotton, Provisions, Etc.

New York, March 22.--The railroad
stocks had their innings on the Stock
Exchange to-day. The demand for all
grades of this class OF securities
reached Imposing proportions, and the
buying came from all degrees OF inves-
tors and Spectators, large and small.
The individual investor WAS in evil
dence as a buyer OF fractional lots all
through the list, and some OF the heavy
buying was attributed TO the account
of banking interests and insiders in the
various properties.
The professional board room traders
ON the floor OF the exchange have
turned bulls to IL man, and the specula-
tors OF larger calibre and speculative
pools made their operations manifest
in the volume of the transactions.
Individual transactions to the extent OF
1000 shares were so usual as to attract
little attention, while many lots of 1000
to 5000 were recorded on the tape.
Norfolk and Western and the Atchison
stocks took the most conspicuous place
in the trading. but there were impress
sivc transactions at different times
during the day In Union Pacific, Balti-
more and Ohio. Southern Pacific, Penn
sylvania, Northern Pacific. Chesapeake
and Ohio. and late in the day, in South
ern railway.
The strength disclosed in yesterdays
market precipitated to-day's rush TO
large element must have been waiting
and watching some time for the first
sign that the market was throwing off
Its lethargy and getting ready to move.
The rush to buy was taken advantage
of to take profits on n very large scale
in stocks which have recently enjoyed
n considerable advance under manipu
laton by professional operators and
pools. Practically all of the Industrial
stocks. including the local fractions and
the Iron and Steel stocks, and also
Sugar, We're sold to take profits under
cover Of the speculative Juror. BaIti-
more and Ohio and the Pacific stocks
also showed its effects very distinctly.
Union Pacific was advanced early and
was held pretty steady at the advance
all day, but 1T made no notable further
progress upward, ana the other stocks
in this category showed positive re-
action
But the current Of the buying de-
mnnd was SO deep and strong as to
carry the whole market practically in
us sweep. Commission houses reported
orders on II large scale, and London
was nm enger buyer of stocks here far
beyond the usual hour when transac-
lions for that account have ceased.
The volume of buying for this account
was estimated at from 10000 TO 10000
ehareS ana was potent influence in
The general strength of the market.
LONDON cables reported that part of the
buying OF Americans there was for
Berlin account. A furry in call money
in the afternoon 10 6 per cent was an
aumonitory symptom, prompting TO the
reflection that even the relaxed condi-
tons i'm the money market might be
over-strained again by Il headlong
speculation. drop In New York ex-
change at Chicago to 20 cents discount
compared with % cents premium
earlier in the week, pointed the same
moral.
Government bonds were also checked
IN their downward course to-day and
rallied. indicating that the process of
proht-taking there, which has been a
FACTOR In releasing funds to the money
market. has come TO u pause: and al
though the sub-Trcasury absorption is
cut almost In half as compared with
last week. 1t still promises to rim IN
close to the amount of the surplus vet
remaining with the banks over the re-
CURED % per cent.
Probably perception OF these facts
as wen as the violence Of the davis
advance. prompted the general move
ment and to take profits in Tho late
dealings. which reduced prices All
around from the best and made tho
closing easy.
The bond market was active and
Strong. Total sales. par value. S4.Oi5. 600
United States refunding o's (when
issued. old As and As advanced nc
and new As Ac. in the bid price. Tho
total sales of stocks to-day were 96n.773
shares.
New York. March 2e.-standard Oil.
6.2505.27.