Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-02-03
REVIEW OF MARKETS.
FINANCIAL AND COMMERCIAL
Stocks, Honey, Exchange. Bon Is. Grain,
Cotton, Provisions, Etc.

. y
speculation furnished adequate proof
that increased interest was manifested
by the public in the market. This sup
position was based on the extensive
trading In railroad stocks which COM
prised properties traversing n wide
area. Professional operators. perceiv-
Ing that support from commission
houses could be relied upon In an up
ward movement in the standard stocks,
devoted their energies In that direction,
causing the Specialties to occupy sec
ondary position in the market. This
change of front was In measure due
also to the fact that some of the Indus
trials, which had sustained Il substan-
tial rise. showed evidences of good real
tzing. Recognition OF the cling
general situation and Indifference of the
local market to foreign complications
formed the primary cause Of the revival
OF outside interest.
Important movements appeared to be
under way by substantial interests, as
to-day's strength developed in first one
group Of railroad stocks and then an
other until the list showed gains run
ming from one to three and half
points.
+ In connection with the enormous buy
Ing OF the Baltimore and Ohio stocks,
a statement that the management had
sold SS,600.000 four per cent. bonds of
the road, and $4,000 600 of that of a sub
sidiary line to provide improvements,
accounted for their buoyant rise. AS
the tendency of prices became pro-
nounced arbitrage houses took advan-
tage of the level to unload, but their
offerings of 10000 shares presented no
efiectual check to the current.
Long standing short lines in some OF
the middle grade railroads were covered
and blocks of 1000 to 5000 shares fig
ured plentifully throughout the list. In
terest was diffused into q great variety
of stocks, and at times some of the us
ually neglected ones We'd with the rec
osnized leaders in point of animation.
Early operations indicated that power
full interests were engaged in the metal
stocks as prices Of the minor securities
followed jump of eight points in Ten
nessee Coal to 1O4 This stock suffered
acutely from realization as the day
progressed, and ended with Il gain Of
but 81.
Prices OF kindred properties were bet
ter sustained. but all relapsed from the
best figures. Fluctuations In Third Ave
nue. contonued to be Of sensational
nature. an early rise of 101 being fol-
lowed by n break to 96 on liquidation
by interests disturbed by the measures
pl objected to finance the company's in
debtedness. a rally TO 997s occurred In
sympathy with the pronounced rise OF
the general market In the late dealings.
Other local utilities lacked feature aside
from the Gas securities. which, how
ever. did not fully retain n substantial
rise. Western railroad stocks gave the
first indication OF strength and held
thcirsextreme rise.
Among the high-priced Industrials,
american Tobacco, Peoples Gas and
Sugar achieved commanding lead oc-
easionally, but ended witt, narrow
net changes. Predictions MS to the
character of to-morrow's bank state
ment were uniformly favorable. but the
advance statistics show that the gain
In cash from receipts from the interior
and sub-treasury operations were
placed at s2.S7l.11S as compared with u
net gain In the previous week OF S64S9.-
ITO, lf
a reflection of the stock markets
strength was observed in the bond OPP
eratlons where the absorption was
very heavy, of the low and middle
grade issues, The market was broad
and.activc. transactions aggregating n
par value OF $2,3SOO0O.
United States As and 5s advanced 4,
and the as declined 4 in the bid price.
Total sales of stocks to-day were $780,
500 shares.