Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-04-05
REVIEW OF MARKETS
FINANCIAL and COMMERCIAL
1tocks, Money, Exchange, Bonds. Grain,
Cotton, Provisions. Etc.

New Yok, April 4.-The stock market
again reflected strong buying power
to-day, orders for stocks coming from
widely separate sources both by cable
and telegraph. The demand showed Il
tendency to converge on few stocks,
and strength was shifted from one
group to another Prices turned back
from the highest level in the case OF all
the active stocks under the influence or
profit-taking by the professional room
traders on the days advance. Thc
sustaining force Of special stocks was
also awaited OF to take profits on stocks,
which have already enjoyed notable
advance. The market was almost en-
tirely relieved from any depressing fac
tor In the shape of positive weakness
In individual stocks. though some pres
sure was brought TO bear on Federal
Steel and on Peoples Gas. The weak
ness of Federal steel had by no means
as much influence as hitherto during
the week. The net result of the days
trading is Il substantially higher aver
age of prices and an important digeS-
ton of realizing sales without any ma
teriai harm being done to prices. The
movement in Pennsylvania was the
most impressive of the day. owing to
the very extensive trading and the
large individual transactions which
marked it. No special news reached
the public to account for the move
ment, and 1T was generally attributed
to the increase of funds made available
for stock market use and the accumu-
lation of evidences of the prosperity Of
the company. Its recent investment in
the stocks of Baltimore and Ohio,
Chesapeake and Ohio and Norfolk and
Western. besides the advantages given
In the extended control of possible COM
petitors evidently insures a good direct
return of the outlay in the shape or
dividends. 1t is said that part of the
special stock issue offered to stock
holders at par which was not taken up
by the privileged stock. has been mar
ketcd by the company at the current
market rate. The premium command
ed by this stock would thus revert to
the treasury of the company. Renson-
ing by analogy from the course of the
Pennsylvania company, many rumorS
are current on the Stock Exchange of
movements towards consolidation or
absorption of railroads in New York
Central territory. One such. alleging
the passing of control of the Erie,
Reading and Lehigh Valley TO New
York Central was denied by Reading
officials and the early strength of the
stocks affected gave way 10 sharp re-
action. The rise in Chicago, Indianap-
oils and Louisville, and Lake Erie and
Western, is due to the prevalent belief
In the general policy of extending con-
troll and influence on the part of the
great trunk lines. The marked
strength of the Pacific stocks was
largely due to demand from abroad,
the buying for London account again
assuming important proportions. st.
Paul on the fourth week statement of
earnings and several other railroad
stocks on good earnings were points of
strength and Sugar, the local traction
stocks and Tobacco showed good adj
vances. Realizing was heavy in Bal
timore and Ohio, Peoples Gas and on
a lighter scale in the Atchison stocks
and some others. The final reaction of
n point in Pennsylvania from the top
level checked the activity of the mar
ket. and the closing was dull and bare
ly steady.
Business in the bond market was on
n very large scale. and was generally
widely distributed and prices advanced.
Total sales, par value, $5,795,O00.
u. S. refunding rs when issued. as
registered. old As and 5s declined Il
In the bid price.
Total stock sales to-day were S4S,6oO
shares.
New York. April 4.-standard OIL,
5S50540.