The times. [volume] (Richmond, Va.) 1890-1903, 1900-03-03
STOCKS YIELDED
IOBEAR PRESSURE.
On News of Threatened Trouble
Among Metal Workers.
BOND MARKET WAS RAT HER DULL
Prices Fell in Sympathy With Stocks.
Disappointment That London Was
Not u Larger Buyer on News Of
Relief OF Ladysmith.


ket failed to show any positive suenEEl
ut any time during the day. and in the
late dealings the whole list yielded TO
bear pressure on the news of the threat,
ching aspect OF affairs among the meta!
workers in Chicago. The weakness OF
the iron and steel stocks yesterday, when
was deu TO large selling orders on Sh1-
caEo, was thus explained.
The bears We're busy in this group Oh
stocks all day, and supplemented the
news of labor troubles with many vague
runners OF a purpose to defer dlvld i.,li is,
which have hitherto been 1oretoid on
more or less reliable authority RcportS
Were circulated also Of enormous combl-
nations to be organized 10 compete IN
this industry. AS the result of this pres
sure the majority of the stocks in the
group were depressed from "a to .
points. The character OF much OF the
selling was made obvious by the Sharp
rallies on bear covering, American Hoop,
Tennessee Coal and Iron and National
Steel recovering from to ) points at
different times
Sugar was subjected to heavy selling
all day, which was without other eX-
PLANTATION than the continued doubt over
the dividend prospects, but Wmch was
attributed TO q new bear account Inc
stock dropped TO par for the 1lrst ume
since the summer OF 1896. incident to the
national presidential campaign, and Tell
further to 963s, rallying feverishly. and
closing unsteady at q net loss OF ob4.
rhird-Apenue suffered from additional
liquidation incident to fears of heavy
assessment on the stock, and fell an eX-
IRENE Az to a level almost 200 points
under the high price of February, last
year. The stock rallied sharply, and was
well supported during the latter part OF
The day. Peoples Gas was raided on the
report of projected proceedings against
the legality of the combination. Con:on-
dated Gas was forced down points On
light transactions. Pullman. Sugar pre-
Ierred, Tobacco and metropolitan street
Railway suffered TO the extent of ; to
-, declined extreme drop
of points. Baltimore and Ohio New
York Central and Southern Pacific were
also notably affected. The late rally on
bear covering reduced the net losses OF
the railroads to fractions, except In the
cases mentioned.
There was disappointment that London
did not respond with greater animation on
TO the news of the relief of Ladysmlth
by buying stocks. The disposition there
was TO realize. and London was small
seller here. The prospect of heavy de-
cline in surplus reserves in the BANK
statement induced some selling. but the
preliminary estimates OF the cash move
ment by express indicate q small net gam
on the interior movement. rms is at
tributed to shipments by interior banks
to New York Tor the purpose OF buying
Government bonds. But the gain on this
account is quite insignificant compared
with the weeks losses by the banks to
the Sub-TreasuIy. which have amounted
20 S7.49S,00o. thus making inevitable
further decline of several millions in the
surplus reserve OF the banks.
The bond market was rather dull, and
prices yielded in sympathy with stocks;
Total sales, par value S1,o350oU. United
States IS declined u in the bid price.
The total sales of stocks to-day were
Jg2 500 shares, including tcAhison pre-
fcrred, 1850; Baltimore and Ohio. G,650;
Burlington and Quincy, $3.50; Manhattan,
$3.50: Missouri Pacific, $40: Pennsyl-
vania $3.50: Norfolk and Western, 63.55o;
St Paul, 1890; Southern Pacific, 13.G3.;
Southern Railway, 10,16o: do. preferred,
7625; Union Pacific, Il. 455; do. preferred.
5.GO; American Steel Hoop. 11.2l0;
American Steel and Wire, 1,210: Ameri
can Tobacco. 80, $50; Brooklyn Rapid
Transit &c. 80; Federal Steel. 1876;
Gas. So9G0; National Steel, .0,350; Sugar,
149,o20; Leather, Alb.
MONEY AND ENCHANGE.-Moneyo on
call steady; actual transactions ranging
IRON "a 10 3 per cent: last loan at 2:a
per cent; prime mercantile paper, 41%G51a
per cent Sterling exchange easy at
s.. sc, Grd. SCH for demand and at 81. 40
81; for sixty days; posted rates, S3.S4W
4.Ss1a and Ss.S73&GIi.SS: commercial bills,
1890. S3lG. Silver certificates. 59sh @6O24;
bar silver 59es: Mexican dollars, AK.
Government bonds easy; State bonds In
active: railroad bonds easy.
BANK CLEARINGSyThe total bank
clearngs at the principal cities of the
> United States for the week ending March
!st We're 81 715,i96, 301. 4 decrease of Dol
per cent; outside of New York, $6S9, 49,
3lI, d decrease Of 10 per cnt.