Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-04-11
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money. Exchange, Bonds, Grain,
Cotton, Provisions, Etc.

New York, April Disbursement of
prices in to-day'S stock market large
ly represented IL contest Of speculative
forces for supremacy. The forces OF
reaction finally prevailed, and the mar
ket closed decidedly weak and at q
level generally below last nights close.
This result was achieved after many
vicissitudeS and extreme irregulurity,
but the mere fact of the presence of an
aggressive bear clique in the market
served as a deterrent to the buying de-
mand from outsiders which has consti-
tuted the underlying strength Of the
market. Commission houses report 4
large falling of In the volume Of or
ders, which have made the market open
for many days with a rush to buy and
which served to conveniently absorb
the profit taking sales of the profess
sional element This class of orders
has either been withdrawn or has been
placed at a level or prices below that
now existing. The operators for the
decline have not yet succeeded In
bringing out any very heavy volume
OF offerings, but they work in the con-
fdencc that they will reach stop less
orders, which will precipitate n sudden
drop all around. Their efforts were
contested to-day by pool operations in
number Of stocks and the continued
demand from London for stocks was
against them. But the operators for
rise seemed To lose courage towards the
close of the day, and realizing in stocks
which had shown strength was very
general. These included in the rail-
road list, particularly the Baltimore
and Ohio stocks, Missouri Pacific and
other Southwestern railroads, Norfolk
and Western aCd some of the coalers.
The industrals and specialties were ex-
trenely active and irregular, under the
influence of special causes. Sugar rail-
lied sharply from an early decline on
the announcement that the company's
principal competitor had advanced the
price of refined sugars to a parity. The
stock sold off again with the general
weakness of the market. Third Ave
nue. shot up nearly ten points OH the
announcements that Its bond issue had
been placed. a long standing short in
terest was forced TO take losses and
close out, after which the stock re-
lapsed somewhat. Realizing by the
Brooklyn Transit pool forced the stock
down Az points from the early high
level The metal stocks were under
bear pressure, especially Steel and
Wire. The bears circulated rumors
that difficulties had been encountered
in the projected listing of the stock on
the London Stock Exchange. Contf-
mental Tobacco suffered from rumors
of poor showing of earnings to be
expected tomorrow. The Pacific
stocks suffered especially from bear
pressure and realizing, and the
Changers were somewhat affected by
the forecasts of the Government crop
report. which had n bullish effect in
the wheat market. The signs of dis
couragcmcnt on the part OF the ma
nipulators for the advance accentuated
the reactionary tendency as the day
progressed, and some sharp net losses
In railroad stocks are the result A
further rise In sterling exchange to
within a fraction of the gold export
point led to discussion of the prospect
OF an outward movement of gold The
continued ease of money here would
favor such n movement, but the taking
up Of the installment of the British
loan. which stiffened to-day's money
market In London. may be followed by
relaxation in money rates there and
sympathetic response in sterling eX-
change here
The bond market was moderately
active. and price changes were irreg-
ular Total sales par value, 50, 200 0OU.
United States new As declined Il and
the old As advanced n and the 3's u
in the bid price.
Total stock sales to-day were 49,
200 shares
New York, April 1o-standard Oil,
54045.45.