Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-03-06
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bonds. Grain,
Cotton, Provisions, Etc.

New York, March 5.-Attentlon i'll the
stock market continued to be largely
diverted TO the feverish and excited
fluctuations of small number Oh
stocks. Manipulation by the bears was
largely responsible for the changes. In
the case of Sugar, the operations of the
professional traders were interrupted
by the unexpected action OF the direc-
tors In declaring Il quarterly dividend
OF 1M per cent. on the common stock.
This sudden tearing aside OF the veil
OF mystery rather nonplussed the pro-
fesSional traders, who had counted up
on q period of uncertainty until We'd
nesday In which TO circulate vague tips
ana to keep up an excited fluctuation
IN the stock with opportunities for prof
lt-taking both up and down. The cut
ting in half of the dividend was about
what Wall street sentiment had set
tied upon, but, coming suddendly upon
the half executed plans of the speculu-
tive contingent. it left them all at sea.
Inc stock opened under pressure, but
after falling nearly : points. encounter
Gu very vigorous support, and was rail-
lied TO 1051a by noon. y two thousand
snare lot was taken at that prise when
the news became known of the div-
dend action. Enormous selling for both
accounts immediately followed, and the
price slumped by wide breaks with oc-
caS1onal SpaSmodic rallies TO 81. Fluc-
tuations were very wild on the recov-
cry to par. The flood of offerings pre-
vented the rise above that, but on the
reaction to 9S large buying was in evil
dence again, which rallied it To 991s,
where 1t closed at Il net loss OF Ia.
In the half hour after midday trans
actions in this single stock reached the
enormous aggregate of $4,000 shares
There were sharp breaks in Tobacco
and Tennessee Coal and Iron at the
\, rt,
the general market was not affected
In fact the stock market gave evidence
OF Its relief over the settlement of this
disturbing question by Il smart rally,
many of the railroads rising to the best
prices of the day.
The market was again unsettled in
the late dealings by un attack on Steel
Hoop. Peoples Gas and Consolidated
Cas- driving them down 3 to points
New York Central reacted IL. but
otherwise the railroad list was little
affected. and retained q fair sprinkling
OF net gains.
Third Avenue, after having risen to
ssh. was forced down to "a in the late
dealings, and Tennessee Coal and Iron
also yielded to pressure \ quotation
OF 3h per cent. was made for call
money In the course of the late bear
raid on stocks.
London held aloof from speculation,
pei."iiS tliS presentation OIL the war
budget to the House of Commons The
money rate hardened In London and in
Berlin. and the influences of the for
eign markets were, on the whole, on the
side OF the depression. Further reports
of railroad net earnings for january
showed extraordinary increases, hut
the gross earnings for the fourth week
In February did not show as striking
gains as those for the third week.
The bond market was rather dull and
irregular. Total sales, par values, L.
ECO, 000
United States bonds unchanged in bid
quotations.
Total sales of stocks to-day were 5i3,
900 shares.
New York. March 5.-standard Oil,
5.27QD5.2S.