The daily morning journal and courier. [volume] (New Haven, Conn.) 1894-1907, 1900-03-28
~ ttsauCTal.
tn STOCK MARK EFT.
C0ntiputd Worry Active and Varied
Yesterday.


Yesterday.
New York, March 27.-The stock mar
ket continued very active and varied to-
day, but there was an appreciable
check to the upward movement of prices
and distinct falling off in the volume
of the demand. The disposition to re-
alize made itself felt in additional
stocks. AS a consequence the market
came to that condition during the day
which the professional operators call
tired. It's absorption power was impair
ed and the weight of profit taking prov
ed too much In the recent upward
movement. This was conspicuously SO
of the southern group of trunk lines in
Guiding Pennsylvania, Norfolk and
Western and Baltimore & Ohio. The
stocks of the latter company fluctuated
widely all day and were under very
palpable manipulation. The common
and the preferred stocks were again os-
tentatiously brought to parity in the
late dealings. The purpose of the man
oeuvre was evident from the suggestion
set afloat that If Baltimore & Ohio COM
mon without paying a dividend could
cross the preferred stock other common
stocks in the same situation might do
likewise The Pacific stocks had to alb
sorb a large amount of realizing and
the Southern and Southwestern groups
were affected by the same cause. The
bituminous coal roads also came to
halt. Other points of strength devel-
oped in the list and the list of net
changes show a large proportion Of
gains. But the general tone Of the mar
ket was by no means so strong as yes
terday and the transactions were on a
smaller scale. The coalers, the high
stocks and local fractions all showed
evidence of strength and there were
some conspicuous advances in stocks
not usually traded in to any extent. 1t
would be difficult to assign a cause in
any news off the day for the check to
the advance, but speculative sentiment
accorded more attention to the unfavor-
able possibilities even of a contingent
nature Thus some question was allowed
to arise of the future of the money mar
ket, although the present tendency is all
towards greater ease, rates for call
loans dropping to 2 per cent. late in the
day. The banks are gaining cash, on
sub-treasury operations. and the interi-
or continues to remit to New York in
payment of loans incurred for the pur-
chase Of government bonds, but the
completion of payments Of the premi-
ums on government Bonds offered for
conversion will result in renewed drain
into the sub-treasury so long as the
governments revenue continues so
largely in excess of expenditures. A
suggestion of another drain on re-
sources for government account Is con-
tanned in the sailing for Manila to-day
of the transport Sumner taking out ST.
100000 for the paymaster's department
in the Philippines The fact has de-
veoped regarding London's buying of
stocks recently in this market, that the
funds for these operations are due to
loans secured in this money market,
which explains the firmness of the sterl-
ing exchange market in face of the
London buying, and the Indifference Of
the London speculative movement to
the stringency of the London money
market. London took profits on a large
scale to-day and it's selling of stocks
about equalled its buying. A number of
strong returns for net earnings for Feb
ruary was disregarded. Total sales par
value, $4,SS5,000
U. s. IS registered advanced " and do.
coupon and new As Il in the bid price
The old declined " and the 5s a per
cent
NEW YORK STOCK MIRKET
Opening. Highest, Lowest Quotations
On the New York Stock Exchange, reported
by Prince & Whitley, Brokers, 10 Center
Street, New Haven.
Open. High. Low Last