Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-05-22
REVIEW OF MARKETS
FINANCIAL And COMMERCIAL
Stocks, Money, Exchange, Bonds Grain,
Cotton, Provisions, Etc.

Now York, May 2l.-The stock market
was soft from the start today, ana y ie,u-
cd readily to the assault VI .nE a.
There was practically no omyirhbiS and
prices lost ground pretty Steao,iy All "a;
even on a light volume or uGaults. LA'e
in the afternoon Third venus in na,,.od
sudden advance of points, ana caused
Some uneasiuess amongst the room
shorts, who bought moderately TO co 9Nd
But the rally was insisnimcunt SM.r,r
and robncco. The sudden upward noNS-
mcnt in Third Avenue was uheNp . ~
except by last weeks move 10 secure ti ..c
DISCHARGE of the receiver ana the progress
being made In the betterment OF the sys-
tenn The longs outstanding snort inter
est in the stock was aimed at by .ne az
vance The heaviness in the market our
ing the day reflected the keen dlsappoint-
ment over the failure OF last week en-
couraGlng Developments TO atrnc. An. Al,
outside demand. IT was soon eVideni tntt
London especially had looked too nope
fully 10 take up American stocks, iho
the carly morning news from tnlt quarter
showing declines for the intcrhationiu
stocks was disappointment inc safes
for London account were not III large VOL
umc but their sentimental erect was nc
cisive and soon overcame the Strehstn III
fhe few specialtics which attempted 10
Inakc Roadway against the tide; 1t was
clear that speculators who bought stocks
late last week counted upon honuoh uam-
Ing them off their bands after that mar
ket had subsidized from It's hySterlcal out
burst over the relief Of Mafeking But
London shared with the continental
tional houses in Wall street attributed
this TO disappointment over the denial oil
the report that President Kruger mao
made humble advances Tor peace, anu
Berlin adviCes reported fears oil an out
break between Russia and Japan. In the
New York market the Changers ana "a
cifics were the first TO show acute signs
of weakness, but ultima tcly practically
all of the active railroad stocks fell from
j to points below Saturdays close.
Sugar rose at the opening on the an
nouncemcnt OF advances In the price OF
refined sugar. but 1t was sold in such vol
ume and with such confidence that 1T fell
into weakness with the rest of the mar
het
markets was not without effect in Wall
street. In the money market the supply
of mercantile paper Is reported to be de-
creasinE owing to the set back to trade in
various lines. Bear operators profess I'M
easness over the likelihood that freight
rates will not hold in face of the decrens-
ing traffic in railroads. The grain traffic
of the Western lines has fallen to the
lowest level OF the year, and is Stil1 de-
cdcdly below last years level. West
bound merchandise traffic Is reported to
be sufficient to maintain earnings as yet
spite of the higher rates in force, are
only slightly above last year.
Bonds were much better sustained re-
lativcly than stocks, though there were
weak spots in the list. V'rhc accumula-
tion of funds seeking Investment Is maxi
Ing some slight investment on the bond
market Total sales par value. S2.0GO,0 900
United States reflnding 2's, when is
sued declined II, and the new is, old Us
and 5's. Il In the bid price
Today's total stock sales were $40, 500
shares.
New York, May 2i.-standard Oil, 53S9