Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-02-06
REVIEW OF MARKETS
FINANCIAL and COMMERCIAL
Stocks, Money, Exchange. Bonds, Grain,
Cotton, Provisions, Etc.


was subjected TO a notable process of
digestion to-day, and came through the
ordeal remarkably we'll. Stocks which
were leaders In activity and strength
during the movement of last week were
heavily sold to take profits. The profit
taking was met by so considerable an
outside demand that offerings were alb
sorbed with little difficulty, and with
out material concession in price being
made necessary. Indeed, any approach
in prices to Saturdays level resulted in
Il notable hardening in the market, the
surface becoming practically unyielding
at Saturdays level. Offerings OF stocks
fell 10 n minimum. and buyers, in or
der to secure stocks, were obliged to
raise their bids 10 n point to yield
profits to the sellers on their last
weeks purchases. While professional
operators were thus taking profits Mt
some points in the list they were re-
placing their funds in other stocks
which had not moved last week, or in
which the movement had been only
fnauguratcd. Thus, with trading
proceeding on an active scale,
and tho movement OF prices talk
Ing on a considerable degree of irregu-
larity. the market presented all the
characteristics of a true bull movement
Upward movements in prices were cas-
lily achieved, and the speculative senti-
ment showed itself quick to respond to
any news developments regarding spe-
cial stocks. Thus a number of railroad
stocks responded quickly and emphati-
cally to returns OF earnings for the
fourth week in january, showing large
increases over the high level of last
year.
The leaders OF the railroad list were
the Norfolk and Western stocks, the
fourth week statement showing an in
crease of $122,354 over last year. AS
this is one of the roads which. by rea-
son of previous OUTLAWS, is able to re-
duce the current rate of operating ex-
penseS, the showing was doubly effec-
tive. The common stock advanced 3%,
and the preferred 11s. Louisville, ST
Louis and San Francisco Denver and
Rio Grande and n number Of other rail-
roads responded to good statements of
earnings. ST. Paul and Burlington
showed renewed strength on reports OF
an improvement in the movement OF
grain over Western lines, In addition to
the extraordinary movement OF general
merchandise.
The Iron and Steel stocks continued
very prominent. and the leadership
here was shifted also, under the influ-
ence of realizing in 4. s. & w and
group was National Steel which was
very heavily bought on floating re-
ports of enormous earnings for the past
year. to be shown by the Forthcoming
report
Reports of n similar kind have been
UNDECIDED for months past in Wall
street, but to-day the stock shot up
under their influence an extreme 37s.
Other members of the metal group
closely allied by identity OF ownership
moved in close sympathy. American
Hoop and Tinplate are in this class. r.
J. & S., the Smelling stocks and Ana
conda were also strong. The market
closed active and strong, at best prices
for many stocks.
The bond market was irregular and
not so active as OF late. Total sales,
par value. S2.70S,500.
u. S. old As and SIS advanced 4 in
the bid price.
The total sales of stocks to-day were
705,3 300 shares.
New York, Feb. 5.-standard oil, 5,s
@5l5.