The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1900-02-28
THE MARKETS.
Wall Street Review,

New York, Feb. 27.-The violent nuc-
tuations OF prices OF n limited numtur
OF stocks on the exchange today reanzcd
the professional traders ocgrce OF
eiysium. H8ndsome profits were realized
within a space of ten minutes and neces-
sdrlly heavy losses had to be pocketcd.
But 1t all added to the excitement ana
the board room traders Kept the spccuia-
tion at the boiling point, working IN ana
out OF the market many times during the
day. The commitments were made al
most entirely on the bear side of the mar
ket. but the frequent taking of profits by
covering of shorts worked frequent ana
Nio,cnt rallies. keeping the market foe
the spccialtics In a state of fcvcrish un-
certainty with erratic fluctuations whose
end 1t was impossible to see. Third Ave-
nue. was the center of interest, as on pre-.
vious days of this week. ON the sale OF
10y shares at the opening quotations
were practically lost, simultaneous sales
being made all the way between Is and Is
against 72is at last nights close. Tine
limits of the total stock issue seemed to
be no bar to the volume of the transac-
tions. The detailed record of the stocks
erratic course during the day would be
without interest. At the lowest prices
2Ols below last nights quotations and a
final fractional rally was spasmcdic and
without significance. Sugar maintained
It's prominent place but reflected much
doubt and uncertainty as the large out;
down, to lolM and in the late dealings
rallied strongly to 1863, with only frac-
tional reaction. There was much disor-
der and weakness manifest at other
In the local Traction group and the To-
bacco stocks. But an active demand for
some of the railroad stocks on reports Of
large M earnings and covering of shorts in
higher level and quiet tone. During the
hour after noon the market seemed to
have divorced itself entirely from the de
mOralizing of the morning. But in the
next hour the bears fell upon the whole
list tooth and nail. forcing down Western
Union an extreme 3s4 and Baltimore and
to other points in the railroad list and
wide losses were effected amongst the in
dustrials The local traction group were
down from q, to 2ls. United States Leath-
Hoop more than 4, New York Air Brake
and many railroad stocks from to .
points the latter Pennsylvania. Pitts
burg. Cincinnati. Chicago and st. Louis
dropped a. The bears rushed to cover
at the decline causing rally of from
to 2ia in the stocks which had shown
greatest weakness. The final downward
plunge in Third Avenue was offset By the
sudden rise in Sugar. leaving the tone
I'm the general list confused and unset
tied but with losses in some points in the
railroad list practically recovered. Strong
showings Of net earnings for January
were made by Atchison with an increase
Of last year of II per cent. Erie with an
increase Of ~ per cent and Pittsburg.
.nnCihTatl ana 81 LOUIS ana B ~ H. L.
Southern Railway made a strong showing
of gross earnings for the third week i'm
February. London bought stocks here
but not on a large scale. the surrender
Of General Crorie having apparently
been discounted. The tone of the MONEY
market was firm though rates were not
quotable higher by the collateral insti-
tutions and the standing and the re
sources of borrowers are considered bet
ters. The fact the srh-treasurv nas 1'-
sorbed since last Friday nearly 5000 40
of cash cannot be without influence. To-
tai sales. so, 100 shares. Railroad bonds
were dull and Irregular Total sales, p0r
value $1,G90,000. Government bonds con-
tinued their buoyant advance. United
States new As advanced ~ and the IS, old
As and IS 4 In the bid price.
The following quotations are furnished
The Tribune by NJ. s. Jordan & Co,
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