The sun., 1900-02-24
Financial.
General Situation Of Yesterdays
Stock and Money Mar
ket Reviewed.
THE STOCKS TAKE A SLUMP
Nearly All of the Active Stocks and
Industrials on the Boards Lose
a Point or Two---Amerfcau
Railways in London
Are Firm.

Are Firm.
The market did not do anything OF
importance yesterday, but on the con-
trary it was decidedly off. Buying was
dull and amust every stock and indus
trial lost from one to two points.
The news from South Africa is not
conclusive enough as yet to give any
powerful stimulus to the trading, but as
we are apt to hear of Cronje's surrender
at any time, and as this would seem to
most people the beginning OF the end in
the war, it is better TO keep on the long
side.
AS far as conditions in New York are
concerned there is nothing either favor
able or unfavorable in the prospect to
influence speculation. The market
should cease to be affected by further
developments in Third avenue. 1t will,
however, anticipate before long the
action on the sugar dividend which will
be taken somewhere around the end OF
the first in March.
For today it would seem best to take
take profits on the long side on a rise
this morning, as about noon 1t is thought
the market will discount an unfavorable
in loans of the previous Saturdays, has
| made the street very nervous about the
statements. The item of loans this week
will have a great deal of bearing upon
/ the immediate course of the market.
In London money continued easy.
Discounts on the street are under bank
rates, American railroads rule firm.
Foreign houses in New York have only
scattering buying orders for London ac-
count.
New York, Feb. 23.-R. G. Dun &
Co. IS weekly review of trade says:
Prices of materials are yielding. If
not the best news possible for some spec
ulators, it is the best that could come for
the whole country, since industries could
not long prosper without reaction from
the extreme prices caused b.. actual OF
supposed scarcity of materials last year
Some help comes from new iron furnaces
that have opened or approach compile
ton; some from the famine i'll India
which sends hither shiploads of hides
.pme from the much increased hocks o.
| sheep which have weathered the WINTER
and some from the opening OF new iron
zinc or copper mines. Inc causes arr
!. many, but the revision of quotation
gives promise of greater activity III al
the chief industries. 1t is only the future
that has been clouded, for as yet pay
ments through banks, deliveries by raj
and production on former orders keel
, ahead of the record of last or any othe
February.
The great iron industry has been EN-
+. barrassed by prices for pig and billet
: which were no longer sustained by IN
gradually yielding prices of products
r Considerable transactions are now X
e ported at Philadelphia 81 to S1.50 pc
ton below recent quotations; at llttsbur
e 10000 tons bessemer have been sold an
j. 10000 tons billets, both iron and stee
i being reported 81 per ton lower. In
new furnaces supplying foundry iro
have been competing sharply at the cas-
and small sales of bessemer have bee
!, made for Pittsburg delivery at 90 to q
o cents below previous quotations. Sheet
:. are strengthened there by the new con
bination. though it does not embrat
some large works, but with this additlo
of 1000 tons yearly and its sales to I'll
: hoop and tin plate companies the NJ
tional Steel has secured large and ric
mines i'll Minnesota.
v The Leather Market.
= Cheaper hides and leather enable boz
o and shoe makers to take contracts Il
n split goods at 21a cents less than price
= recently asked, and some large sales hay
It resulted, giving part of the shops wol
a for some time Others are getting yei
l. few orders and some are stopping or e,
= pect to stop in two weeks The yieldiT
r in split leather began early this mont
l, and in hemlock sole Il week earlier al
has reached / cent per pound while til
g. week union backs and kips and glo,
n grain upper leather are cheaper.
The heaviest exports from New Yol
70 ever recorded in any week might reliel
i some anxietes. With shipments $14
& 521 ,56S in value last week and in thrt
). weeks S35, 134,6S9, against S2S, 1S3, IL
L last year, the imports here were curions
II $50. $50, ,412. against S2S, ,531 1888 last yea
n But many do not see that the increase
3 % per cent in each would make total G.
1t ports exceed imports by S42, 100000. Go
l. ton exports are better, and Atlant
t, wheat exports this week, flour include
were but 354, 900 bushels less than la
year, with Pacific exports larger by 35e
375 bushels. In three weeks wheat @,
ports from both coasts have been $685.
y 54; bushels, against 10,14T ,052 last yea
Corn exports make mp for part of thi
having been in three weeks S,971 3.
bushels, against 6,915,567 last yea
Western receipts of both We're large
or though soft roads hinder. Wheat ro
y further, but reacted. closing seye
le eighths of a cent lower for the wee
while corn advanced three-fourths of
cent.
Failures for the week have been in Il
United States POI against 191 last ye
a. and 33 in Canada against 40 last year.
4 %*
le Local Quotations.
Last Sales Bid AJAX
National Bank of Del. :
First National Bank........ll3 113 :