The times. [volume] (Richmond, Va.) 1890-1903, 1900-04-27
STOCK IMARkET
SHOW EDSIRENGTH
/, Under Influence of a Rise in Pennsyl-
vaHia and B. & O. Stocks.
BONDS WERE MUCH MoREACTlvE
a Number of Unusually Favorable
Railroad Statements Had
strengthening Effect on the
Markc,-Locai Markets.
BONDS WERE MUCH MORE ACTIVE

NEW YORK, April 26.-The stock mar
ket developed an impressive show of
strength during the latter part o. to-day.
Inc principal influence in the rise WAS a
resumption of the upward movement in
Pennsylfania and the Baltimore and Ohio
stock.
The recent reaction in these stocks has
been accompanied by rumors that impor-
tant speculative interests which had been
prominent in the advance had sold out
and taken their profits. The news of
inc very heaVy outiayS in prospect for
permanent betterTnent and increased ship
1fents awakened some apprehension of
dividend Increases indefinitely postpond.
not only on Pennsylvania stock, but on
baltimore and Ohio and MANY others
which have been subject to rumors of in
creased dividends but to-day the report
OF probable increase in the Pennsyi-
Nania dividend rate took form again,
and was circulated with great explcit-
ness.
Bids We're made on the board for the
next semi-annuai dividend on Pennsyl-
Tania on thousands of shares of stock at
"a per cent, compared with ~ per cent
The last rate
The meeting of the directors for the
purpose of fixing the dividend rate is fixed
Tor Tuesday next The reports in regard
10 Pennsylvania had the most indirect
influence on Baltimore and Ohio stocks
next 10 Pennsylvania itself, but the whole
railroad list responded in varying degree
TO the influence of this movement.
The pools. whose operations for q rise
were interrupted by the Steel and Wire
episode, resumed their operations to some
extent This was notably true Of the
Gould Southwestern group, which are
subjects of teeming rumors of prospective
combinations consultations. The de-
ternined 1irnlness of Sugar, and its bcuy-
ant upturn later. had q sympathetic eff
feet on the market The movement is sti
feet onsthe market. The movement is still
attributed to the demand from the shorts,
but the many assertions of favorable de-
Velopments in the trade war may also
have had their effects
a number of unusually favorable rail-
road statements also hal a Strengthening
effect on the market. Increases in net
earnings for March were reported by the
Atchison, Topeka and Santa l'e of % per
cent: by the Hooking Valley Railroad Of
105 per cent, and by the Central of Geor-
gia of 80 per cent. Returns of gross earn
ings for the third week in April were also
uniformly favorable. These factors Of
strength caused growing uneaslnesS
among the rather unwieldy short interest,
and the demand from that element had
no small part in the rally in the market.
The unsteaGiness of the sterling ex-
change market to-day gave ground for re-
newed doubt as to the continuance for
the present of the gold export movement.
The strong return OF the Bank of England
for the week. as well as that of the I'M
peral Bank of Germany, had some effect
on the exchange market. The Sub-Treas-
urer's debit balance at the clearinghouse
showed a further decline to-day falling
to $500 1872, compared with the recent
average of over a million dollars If this
replenisimcnt to the money market is
cut off ii may serve to prevent the out
ward flow of gold.
The bond market showed increasing ac-
tivity and strength to-day Total sales,
par value. $3.50 U0n. United States bonds
We're unchanged in bid quotations.
The total stock sales to-day We're 5333,4 400
shares.
a,p>-Ev Ant, 1rvr,II s--c In,,ay- ~,
call steady at 2@2ia per cent: last loan
at 2is per cent; prime mercantile paper,
4l:5 per cent. Sterling exchange rn-
steady with actual business in bankers
i,iils Ii SSlIA SSlL for demand and at