The times. [volume] (Richmond, Va.) 1890-1903, 1900-03-11
MORE ANNA ton
ON STOCK MARKED
Firmness of Prices Again Drove the
Bears to Cover.
BANK STATEMENT VERY WEAK.
Trading Was Largely Confined to the
Board-Room Operators. But There
Was Some Significant Buy
ing From Outside.
BANK STATEMENT VERY WEAK.
Trading Was Largely Confined to tho

NEW YORK. March 1o-The trading IN
Stocks was largely confined to-day to
operations by the board-room operators,
as has been the case during the whole
week, but there was some small but sig
pifcaDt buying from outside sources,
especially manifest in the taking OF 1rac-
Ional lots OF stocks Tor investment. MnaGn
proved the attractiveness of the present
level Of prices to those who are not de.
pendent upon ordinary money marker
vicissitudes for holding stocks for the
dividend returns which they yield. Inc
wide distribution of the dealings also add
ed to the active appearance OF the mar
kct The bank statement was SO conf
IDENTIFY foreseen that Its appearance was
not awaited for the closing up OF the pro-
fessional contracts.
Peoples Gas and Sugar were notably In
demand before the bank statement, but
were sold off again, together with the
local traction stocks. The obvious I'M
willingness OF prices to yield on the bank
statement drove the bears to cover again
Sugar advanced an extreme 31s. and Peo-
pies Gas 2, and the whole list rose to the
highest level of the morning, with more
show Of animation in the dealings than
had been evident for several days. The
bank return was fully as weak as was
The money market had a. temporary
funding law is confidently looked to for
Speedy relief There Is an undercurrent
Of Sentiment. also. that some of the recent
heavy loan expansion would be readily
convertible and transferable in case of
apy' urgent need of credits without doing
damage to present borrowers. This would
be true of such portion of the recent loan
expan Sior as las gone into Government
bonds with q view to taking out addi-4
uonaI note circulation.
Thosranroad bonds have been in good
demand. part OF the buying being at
ttbuted to pressure Of funds realized
GEom the selling of Government bonds by
Investment holders to banks. United
States old As and Us advanced / per
cent, 3's coupon q, and do. registered Vi:
new as declined Is and DO. registered and
the rs 4 In the bid price
The total sales Of stocks to-day were
1S1. 400 shares, including Missouri Pacific,
1z:44D; ST. Paul. 7.13s: American Tobacco,
6.910; Brooklyn Rapid Transit, 7.115; Peo-
MONEY AND ExCHANGE.-Mcney on
call: steady at 81. per cent; prime mercan-
tile paper, 43s9J12 per cent. Sterling eN-
e1ange steady, with actual business in
bankers bills at S4-S6 for demand and
81, 62A for sixty days: posted rates, S4.S3
2al.S4 and Si.S7@4.S71a; commercial bills.
GIN; bar silver, sos; Mexican dollars,
4Tst. State bonds steady: railroad bonds
firm: Government bonds strong.
WEEKLY BANK STATEMENT.-The
bank statement for the week shows the
following changes:
Surplus reserve. decrease .......SI.965,1I3
Loans, increase S,l2t,VUO
Specie, decrease $1,000 -......- 5,33S,3OO
Legal tenders. decrease ..---.... 2,6S9, 700
Deposits, decrease .-.-.......-- 49l 300
Circulation, increase --.....-.-. 357 GOO
:'The banks now hold S5,GI6.375 in excess
of the legal requirements.