The daily morning journal and courier., 1900-03-09
EtmaMcfaI.
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 I'll E STOCK MARX FIT.
Practically Relieved of All Disturb, Ing
 Factors in Special Stocks,

1 Factors in Special Stocks.
 New York, March S.-The market | was practically relieved to-day of al disturbing factors in the way of acute | weakness of special stocks. The gen. | eral news all continued favorable re- gardng the outlook for values. But the demand for stocks was almost un- appreciable. Even the small buying for investment, based on large earnings of railroads. which has been In evi- dence for some time past, dropped out
 of sight Spectators are refraining entirely from commitments for the ad- vance. On the other hand the bear operators of any considerable calibre seemed to become discouraged by the futility of their efforts and the culmin- alton of events counted upon for a re- action against Peoples Gas Consolidat- ed Gas and Metropolitan Street Rail- way to-day. But no effect was produc- ed on the general market. The room traders labored in vain to set the slug gish tide of prices in motion. In many stocks the price changes were scarcely sufficient to cover a brokers commits sion, and the inertness of the market
 increased in proportion to the distance from last nights level, the tendency
 being to come back to that level from
 either below or above It. The Iron and
 Steel stocks were generally firm on the
 encouraging opinions expressed by au-
 thorities in the trade. The maintenance
 of the St. Paul dividend at the exist
 ing rate found no response in the mark
 ct, as it had been fully foreshadowed
 by the large absorption of gross earn
 ings in operating expenses The re-
 ported agreement of western railroad
 presidents on recommendations design ed to harmonize differences over freight rates; the determination to advance bi-
 luminous coal rates to the lakes, and additional gains reported in railroad earnings were all without effect on prices. The published report of pro- posed increase in the next dividend on the preferred stock of Pittsburg, C.. C. and $. Louis was met by a drop in that stock of BE points. Rio Grande Western was notable for a jump of nearly eight points. There was contin- ued doubt and apprehension over the capacity of the money market to get tHtouSh Ni'Aiout ts pihCIl IO tIle pe1lOu of relief by the operation of the cur rency bill The possibility was can vassed of action by the treasury depart ment to resume the deposit of internal revenue collections with the banks but no authoritative sanction was given for funds by the New YorkESAOI1ILIIII such possibility. The absorption of funds by the New York sub treasury since last Friday had already reached $5,631 ,000 up to the close of business last night. The total revenue surplus taken up by the government since the first of the month up to the same date amounted to only $2,060245. The spec ial drain thus indicated upon the New York banks is due to the large customs payments by importers Imports at present are running very high as an incident of the active demand for com modities and the payment of the du- ties is diverted from the New York banks into the sub-treasury. The de- mand for loans for purchase of govern ment bonds continues large. These two factors threaten the early obliteration of surplus reserves of the New York banks.
 The bond market was not so active as yesterday, but prices were firmly
 United States 9s declined Ii and the As # in the price,
 NEH fORK STOCK AE.iRhEr.