Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-02-20
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bonds, Grain.
Cotton, Provisions. Etc.

ew York, Feb. 19.-The outside public
still refused to manifest any interest
in the stock market to-day, and oper-
atoms continued wholly in the hands
of professional traders. This element
was made on attempt to force O con-
tinuance of last weeks reaction. using
as their main argument the drain be-
: ing made upon the cash resources of
the banks. To-day'S statement of sub
treasury operations showed a loss al
ready, since February 18th, to that in
stitutlon Of S1,421.000
This showing helped the bears in an
early raid on the market, which wiped
out the opening gains and carried prices
generally below Saturdays closing
level. One or two stocks suffered from
individual causes and helped on the re-
action. Pacific Mail Peoples Gas and
Third Avenue showed continued weak
ness, and Pennsylvania was depressed
on reports of Il new car trust involving
many million dollars. The bears did
not succeed in bringing out any large
offerings, and were driven to cover on
the development of aggressive strength
in several stocks. including Sugar,
Rubber. Chicago. !. and L., Tobacco.
General Electric, Lackawanna and
Third Avenue.
The most potent factor in the rally
was the very large increase in earn
ings for the second week in February
shown by n number of railroads. Nor
folk and Western made the most stril1-
Ing exhibit With an increase over the
corresponding period of last year OF
Sl3S, sos, which Is very nearly ninety-six
per cent This resulted in very large
absorption of the stock at an extreme
advance Of az, and had n sympathetic
effect on all the bituminous coal car
rying roads. contributing to the rally
In Pennsylvania, and Baltimore and
Ohio. Toledo and Ohio Central Show
ed IN Increase in earnings of as per
cent. fof the second week in February.
These evidences of the large demand
for bituminous coal were coupled with
reports of increasing use OF anthracite
In steam production because OF diff
Guilty in obtaining soft coal.
In the Southern group. l.. and N.
made a showing for the week, which
was 81 per cent. better than that of last
year, the increase in gross amounting
to S1S6,345. All the returns received
show very striking gains. though those
enumerated are the largest.
Cotton carrying roads, especially,
showed recovery from the recent low
level Of earnings and were advanced in
price in consequence. The tonic effect
OF these extraordinary earnings proved
too much for the bears, and they were
forced to cover. The continued ease of
call money. which ranged from 2 to 2k
per cent, neutralized the alarmst view
OF the money market outlook. Some
slight effect was produced also by the
reports Of further British successes in
South Africa, Erie Telephone rose
4 huoyantly some eight points. Dealings
were not OH a large scale, and the mar
ket fell very dull before the close, but
held quite firm near the top.
Business in bonds showed some fall
ing off in volume, and price changes
We're mixed Total sales. par value,
$685.. o00
U. S. old As and SIS advanced Bc. and
the 2's nc. in the bid price.
The total sales Of stocks to-day were
333200 shares.
New York, Feb. 19.-Standard Oil,
5.32A @5.95.