The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-03-05
FINANCE, AND TRADE.
The Features Of the Money and Stock
Markets.

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NEW YORK, March s.-The feature
of lhe stock market was the disturbed
condition OF mind manifested by the
bears, whose demands for stock to cover
short contracts worked some violent re-
coveries in the Industrial and speciality
departments Of the market. This infir-
ence was firat evident In Third Avenue.
which bounded up s points on the BELIEF
that financial assistance had been Sc
cured to rehabilitAte the property. The
short account in Sugar again gave signs
Of being over extended, ana, after tail.
ing to near 96, the qpotRtton touched
iOiX in the late dealings. A decline In
the price OF raw sugars, thus widening
the zap between the cost OF raw and re-
fined sugars, was an influence The
movement In these stDcka had sympa-
thetlo influence upon other industrials
and there were genera recoFeT4es from
the opening weakness during the frs.
hour.
A period OF dullness and heaviness
succeeded while waiting for the bank
statement, and upon the publication OF
that statement, rhe market displayed In
creaslng animation and strength until
the close, which was generally at the
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Part Of the buying was on the prin-
clple that whenrbad news is out rally
IL due. But the return was, In fact, not
so weak as had been feared. Receipts
OF cash from the interior were larger
than anticipated, and the loss in cash
correspondingiy lees Another loan exc
pahsion so formidable as $s,e9i 900 was
apparently viewed with comPlacency as
the feeling has grown up in Wall street
that much OF the recent loan expansion
will find a quick return TO the money
market. So long as call loans are made
at 262h per cent there will be no acute
alarm over money market prospects.
The stock market this week has been
torn by the conflicting influences OF vlO-
lent contrary movements In different
groups Of stocks, affected by individual
causes, There have been sharp losses
in the department OF tndustrlalB and So
called specinItieB, Including the stocks
OF corporations operating the New York
public utilities and there have been no.
table gains In some railroad stocks
based on large earnings reported. The
strength OF the railroads has at times
checked the fall In the lndustrials and
at other times the sudden breaks In the
lndustrinlH have unsettled the whole
market and have been a drag on the
movement M kllH EVAllEuUu1s NellHGT
the gains on the one hand nor the loss
es on tho other have been fully mOln-
tained and II Il impossible to determine
the dominant tendency OF the market
or to decide how far the apathy Of the
public demand for stocks would be
changed II the market were relieved
from the special disturbing influences
The principal disturbing element has
been Third Avenue, which has sold over
30 points lower than last Saturdays
closing price and very nearly 200 points
lower than the hifii price OF tho CORES
ponding period Of last year.
The Iron and Reel stocks have also
been a disturbing influence. without any
very clear explanation being given OF
the large selling Of them. One
current, but not very plausible explann-
ton 10 that the earning8 OF these COM
panles are proving so large that effec-
tive competition Is invited and is being
organized. The reports Of authorities
in the trade, showing large consumers
still hating over the making OF future
contracts for material, obviously with
the expectation that prices Will go low
er, seems a more rational explanation.
The market for railroad bondS has
shown decreased activity during the
week and the price movement has been
irregular. United States new 10 nd-
vanced az per cent and the Sg, old -
and 60 IL per cent in the bid prices,