The times. [volume] (Richmond, Va.) 1890-1903, 1900-03-31
TIL INDU'S T'R lAL
NIERl Y|E'RY ACTIVE
Sugar 0utdidslts Traditional Uncer-s
tainty.
r. r.. STOCKS IsIs BACKGROUND.
There Was no S,tnncss In the Rates
for Money, but Strong Bank
Statement, is Not Anticipated
Tor. To-Day.
't5sg II. :, -. : r. = ~ a. ( -, Z.

. NEW YORK. March 30.-The railroad
stocks retired into the background OF the
stock market to-day. and gaze place TO
iilc intiustrials8 and specialties. Sugar
almost outdid its traditional reputation
Tor uncertainty by suddenly ietracinE llS
above yesterdays high point. There was
u Ino1ncntary decline OF less than 2 point
AT the opening, and then a quick rliy:
and the stock never got PACK -, 8, lasl
1nss 1t was II points above the 10" le eve
in the morning, and Its net gain IS - ~
The transactions in the stock We're ehor-z
nous. and the buying without deupl
came very largely from the outstanding
short interest, but the urgent demand
from the shorts was prompted Oy 3Wiial
they believed were evidences OF ouE r,,s
course of the stock clearly demonstrates
q cynical slSep1icism on the part OF the
speculative public regarding the sin
certify of the pess:mistics official outSiNlns
which caused yesterdays slump in the
price of the stock. All sorts OF sensa-
tinnal rumors were afloat regarding meas
ures for compromise of the sugar-tradc
war, and there were yelled intimations
that The opposition reiiners had been
emulating the example of the Metropoli-
tan Street Railway interests IN the Ihird-s
Avenue coup by acquiring Sugar stock
at The decline. ,
AT all events. the shorts in the. stock
were acutely per,urbad in mind. and
scrambled to obtain stock. The local
traction stocks furnished the other sur
prise In the market, and. like Sugar, de-
yeloped aggressive strength IN the lace
Of bad news The demand in this group
undoubtedly came from the shorts. The
TEureS given out from Albany last night
OF the valuation that is placed upon the
franchises of tho New York traction COM
panics We're as nigh as The most eNtraV-S
2%3nt estimates NNalI Street
With the exception of preliminary
drive, which carried the stocks down
eagerly bought all day. rising well above
last nights figures. and not falling far
below that level again. Peoples Gas and
a number OF the steel and iron stocks by
rising sharply, completed the dcmonstra-$
ZION of strength in the industrial group.
The demand for the railroads seems TO
have quieted down for the time being;
with the exception of a stock here and
there in the list. which showed a good
advance.
Profit taking was The motive of the.
selling, prompted by the weeks consid-
cradle advance. But the pressure upon
the money market incident to the quar-
1erly settlement next Week. which was
manifest in foreign markets even mora
than here, had its influence i'll checking
s.ie buying movement. As The buying OF
the specialties was largely to cover short
contracts 1t was not Influenced by money
market considera ton There was no
stiffness in the rates for money, but pre-
liminary figures of 1o-morrows bank
statement failed TO indicate so strong
return as has been counted ur
Owing. to the falling off i'll the amount
of Government bonds offered for CONVEX
sion. The disbursement Of premiums has
decreased, and the weeks gain by the
than million dollars. On the interior
movement by express the net receipts nre:
estimated at less than a half a million.
AS against this small gsin in cash the
nc ms i,.n5 n llnupPSt1OnaUlV
been large. There is ground for doubt.
therefore, whether considerable inroad
has not been made on the surplus.
Business in bond market showed
falling Off, but prices We're about main.
tanned. Total sales. par value, 81 300 600.
United States IS. old is and new IS
declined u in the bid price.
The total sales OF stocks We're soo. 600
shares. including Atcllison, 41,:,G0; do
preferred 21.412; Baltimore and Ohio, lo,-
h3a; Chesapeake and Ohio, 2a.I130; c., C.,
S.;;E,4: Manhattan. 130S0: Metropolitan
Street Railway. 2l.3I3 Missouri Pacific.
S.:,3i: Norfolk and Western, 1865; North
1864: Pennsylvania, l0,1iS; Reading first
preferred, S,S1e: Southern Pacific. =, 420
Southern Railway, a,o3o;s Union PACIFIC;
goo Wisconsin Tentra 1874: s sn,
conda, 13.Ga3; Brooklyn Rapid Transit,
AZ. 4G5: Colorado Fuel and Iron. S,Oi.: Fed
eral Steel II ,Ss5: Peoples Cas- 1870;
preferred, 475; United States Rubber. 400;
Rpublic Iron and Steel, LILO.
MONEY AND ENCHAsGE Money on
call steady at :::1aGI4i3 per cent: last loan
at y. per cent: prime mercantile paper,
AZ. G5l. per cent. Sterling exchange, 1ac-.
tual business in bankers bills at 81 .SGls
for demand and at 81 S2.laG4. S229s for sixty
days: posted rates. 81. S3IaGl5. 81; CONNER
cial bills, 81. S.l4G14 So. Silver certificates.
t,.a M6l; bar silver. .9hs; Mexican dollars,
5:,1ai Government bonds weak; State
bonds !irncr: railroad bonds irregular.
BANK cLEARINGs.-T bank clear
ings at the principal cities of the United
States for the week ending March Both
were 81, 729. $50, $50. n decrease of }S per
cent; outside Of New York city. SoIG.-
"a, a06, an increase Of 10 per cent.
STOCK QUOTATIONS.
Closing Stocks
Atehi Gibson :. -...-.:.x. 9 3:ss
I hchiSOn pfd $1,000. 80. - rs
Baltimore and Ohio ..-....-.- Slts
Canadian Pacific 30
Canada Southern -
Ches. and Ohio ::s2h
Chicago Great Western li:A
Chi, Bur. and Quincy III
Chi, Ind and l........ 25A
Chr, Ind. an J.. pfd... IS &%
Jlli and East Illinois .-.....-..... 1o2
Chi. and Northwestern 1t4
Chi. Rock Island and Pac... 112SSss
q q ND + mis-