The times. [volume] (Richmond, Va.) 1890-1903, 1900-02-17
STOCK MARKET
CLOSED LOWER
Prices sagged Steadily From the
Opening Level.
BOND PRICES WERE IRREGULAR.
The Bears started TO Cover in the I'll
nal Dealings, Which Rallied the
Level OF the Market From
tho Lowest Point.
BOND PRICES WERE IRREGULAR

NEW YORK, Feb. 1G.-The dropping
tendency of prices proved too much 10 pc
overcome. and the ma jority OF stocks sho"
net losses on the day. In the standard
stocks these losses are small. but the de-
cline from the carly high range was con. con.
siderable The opening was above ~ ,.'
nights level in sympathy with l-ohdo'''
but even in the initial transactions tns
Weakness or the local .iracton STOCKS .ii'u
OF PScjfic Mail served TO hnSeiue tns
market. Prices saggcd pretty stciui.s
from that time until The bear opeii''i :
among the room traders started 20 Gohci
their short contracts in the isnai deaiLliSS.
This rallied the level of the MARKER from
the lowest. but the movement was ilsiiess
and entirely without force
London was not encouraged by its GOOD
news from South Africa 10 buy s!ochs
here. and. in fact. saEged in Inc NOME
market. Conyols lost all of their carry
gain. supposedly on the immlncncc OF L
new issue. but London was dlspoSed 10
take profits at all points, even liaho
I,,,neS showing a sharp rcaclion HON VIC
early advance.
There was no occasion for surprise.
therefore. that the local market 1aiica 10
mold thc advance on the South AFRICAN
news. The bears llau not as much am
munition In the shape Of the weakness
of special stocks as they had Yesterday
bur the general tone OF The market WaS'
nevertheless, rcastioDarS.
The bears made lnrDadS upon IaCibC
Mail and United States Rubber but other
wise no very wide breaches We're made
in values. The local traction stocks we're
inclined to rally with the cessation OF
pressure against sThird-Avenue sugar
was erratic during the early part OF the
day. but became firmer towards the close.
with considerable effect on the general
list
The general public maintained its atti-
tude of apathy. and this was the cause
of heavncss. Probably some vague un-
easiness is beginning TO be felt also re-
garding the winter wheat crop because
the ground is bare of snow, leaving II
exposed to the cold
According 10 reports from the leading
banks shipments Of money this week by
express arc nearly a million OF dollars
greater than last week, while the re-
CeiptS from the interior by express has
fallen off considerably over million dol
lars. This would indicate a net loss on
the interior movement OF nearly a mliilon
OF dollars. bringing the total loss. includ-
Ing Sub-TreaSurE operations, over A1,uoo.-
900 Ii is known that some gold has been
received from Canada, which does not
figure in this estimate.
There was a good absorption of some
dormant railroad bonds at advancing
prices. but changes generally We're irregu-
lar. There was quite an active market for
Government bonds. presumably on ac-
count OF the proposed refunding bill by
the Senate. Total sales of bonds, Sc,O2J,-
OnO, par value. United States new As adj
vanced u. while old As declined u in the
I'D price.
The total sales of stocks were 31S,S00
shares including AtchsoD preferred,
1850: Baltimore and Ohio. 6.'i'0; Buriing-
ton and Quincy. 1850; Manhattan, ., To-;
Pennsylvania, 14.S6o: st. Paul. 5.42J;
Southern Pacific, 9.275: Union Pacific. L..
800; American Steel and Wire, G."%o:
american Tobacco. 1880: Brooklyn Rapid
Transit. 14,160; Pacific Mail. 10.1S6: Gas
tcx-dividcnd). G.:62: Sugar, JG,170; Ten
nessee Coal and Iron, $500; Leather.
1o,:10
MONEY AND NEUTRALITY-SUSPICIOUS. on
can steady at 10. per cent: last loan
AT = per cent; prime mercantile paper,
4Ij per cent. Sterling exchange firm.
with actual business in bankers bills at
81. S1Ss@4.S1& for demand and at S4S4M
for sixty DAYS: posteu rates, Si.S5 and
S1.SSl4; commercial bills, 81 SSa G4S3a4.
Silver certificates. 59S4WtOA; bar silver,
53I; Mexican dollars. ALL. State bonds
inactive: railroad bonds irregular; Gov
eminent bonds irregular
BANK CLEARINGS.-Total bank clear
ings at the principal cities for the week,
81. JUI, l3I Sd. an increase Of S.ii per cent:
outside of New York city, S539, 0J9, 24:3;, an
increase. 81.