Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-05-09
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Honey, Exchange. Bonds. Grain,
Cotton, Provisions, Etc.

New York. May s.-The prolonged dull
hess on the Stock Exchange gave way
TO an outburst of active LIQUIDATION to-
day, and prices suffered severely as a re-
suit In the railroad list losses of be-
tween and points are the rule and in
many active stocks they exceed that
persisted in face of tho gathering evil
dences OF depression naturally suffered
the most. Baltimore and Ohio stocks
We're foremost in this class. the common
losing over points and closing at the
lowest, while the preferred is 3si lower
than Yesterdays close. Missouri Pacific
and declined 2ss in very heavy dealings,
N spite OF pool buying on scale down.
The sharp break in prices came generally
US surprise, and the room traders con-
traSting the wide movement of prices
with the small effect produced by their
pest efforts for week past, were inclined
TO look for an explanation to the arrival
within the reach of telegraph facilities of
tne most successful bear leader of the
past year, who landed in England yester-
Gay AFTER week at sea. But there was
nothing In tho trading that would make n
bear raid sufficient to account for the
action In the market Liquidation of long
STOCKS was clearly In evidence. The large
oHerlngS in one or two stocks in the rail-
road group. which were Il feature yester-
gay, and which were believed to be the
letting go OF speculative accounts by
large interests, were evidently the fore
runners of today's liquidation. Tho week
~ statistics of railroad traffic made up at
Chicago and published after yesterday =
market was closed were the sufficient cX-
PLANTATION of the selling. They demon
stratcd conclusivcly that the rcactionary
tendency of business has begun to have Il
marked effect ON railroad traffic as it has
Deen feared 1t would. 1t Is apparent that
many owners of railroad stocks have been
holding in the hope that tho volume of
railroad traffic would not be materially
affected. But with large declines both in
the receipts and shipments in Chicago,
and with freight officials OF Eastern lines
complaining about the light traffic, large
< HON on tlt.,,
ket today. and found few bidders to take
Them. The bear traders, when they saw
how things were going. Joined in the SELL
Ing, and their buying at declines to cover
their short contracts gave the only oc-
casionai checks TO the downward course
OF prices. The necessity which is now
clear of II reduction of prices through
out the business world. I'm order to in
duce sufficient consumptive demand to alb
gave Occasion for depressing opinions of
the outlook. Fears are felt that re-
adjustment of wages and course OF
much attention was paid to the question
OF further gold exports, as the money
market shows no effect of apprehension
on that score nor on that of the cessa-
ton OF the outgo to the market from the
sub-treasury. The. continuing case "a
money IN face Of these factors Is regard
ed as corroborating the fears OF business
reaction. The comprehensive outlay for
improvements by some of the railroad
arc also beginning to be looked upon with
apprehension ana to affect unfnvorably
the stocks of the companies. Steel and
Wire and Federal Steel were rather not
able exceptions to the general weakness
on account OF the extensive liquidation al
ready effected in them.
Bonds were active and weak In sym-
patty with stocks. Total sales par value
s., 1G0. 900.
U. S. new As declined X and 3's, coupon.
advanced u In the bid price.
Today's total stock sales were 6o3, 500
Shares.
: New York, May s.-standard OIL, SAG