The times. [volume] (Richmond, Va.) 1890-1903, 1900-03-20
LENDERS EHOLDIOU'I
FOR HIGH R.AT E IS.
Present Money Supply is Extremely.
Restricted.
.-------- ---.-- ---.----.5
spEcuLA1lvE INTEREST sTIRs.
------------>--
Operations In Railroad Bonds Active
and Strong and London Buys
Quito Frccly-Ncws OF
the Market.
Present Money Supply is Extremely!
SPECULATIVE INTEREST sTlRs.

NE Nv 4Otfh,- NaTcn Ill NC oLoStA
market gave evidence to-day of q dis
position on the part of speculative
contingent TO. discount the prospects OF
relief TO the money market, but the spec
ulative contingent is dependent on the
money market for. funds to operate with,
and while there were symptoms OF re-
taxation in money rates, the present sup
ply is still extremely restricted: Lenders
of money IRE inclined to hold out for
high rates the assumption that inter
est rates will not relax until aiter inc
April LIST settlements have been disposed
Of Borrowers take a more hopeful view
of the immediate outlook. and are IN
clined TO await the expected early casing
Off of rates.
speculative interest to-day, which was
notably manifest in the railroad list, put
which was mostly confined TO lew
stocks. Baltimore and Ohio was the most
conspicuous, with rise Of points.
Union Pacific and Baltimore and ONO
preferred. Atchison preferred and the
Colorado and Southern stocks were an
in good demand and gained over point;
Minnesota and ct. Louis preferred rose :
points. The bears made attempts to D., oo-
struct the rising tendency Of prices. s1,hey
first made a raid upon the New IorK
stocks, on the ground that the tax levied
under the new franchise tax law WI! pc
so considerable as to threaten their aolli-
ty TO pay dividends Later an an, attack GasI
based on the threatened strike OF ma
chinists. Nearly all Of these We're very
effective in breaking up the strength
manifest along the railroads. In TACT
the railroad list showed more hesitation
in face of the violent rallies in the local
traction group than the weakness OF the
specialties.
1T is well understood that the vicisst-
tudes of New York stocks are connected
with a rivalry approaching the cnaraS
ter of a feud among some OF tne iies.
powerful financial interests in the street,
and peaceful bystanders have been SHOWN
to be as likely to be the injured IN TINS
conflict as the actual participants. Inc Inc
indication Of this conflict to-day was IN! me
severe punishment inflicted upon me
short interest in Third-AVenue. Inns nus
stock touched GGlk in the early decline.
md reached SJ1@ several times in the Vlo.
lent fluctuations of the last half hour OF
the trading Price changes reacneo as
much as az points between sales. ,M elrS'
politan Street Railway recovered an carry
london bought quite freely of few
stocks sespecially the Atchisons and Union
Pacific The total purchases on .nas az ~
count Of all stocks were estimated "a az
20 900 shares Relief was manifest IN inc
money market due to disbursemeen.s que le
TO Government account SterllhS
ca pnerat Hons in the railroad bonds was
,ctire and strong to-day and well als-
tributed Total sales, par Ealue, Si..t1,.r
900. United States bonds Scores ;9resting the the
zliouidation of holdings by recent pust az.
! who are Induced to take proilts on Luz ns
high prices. United states oent . rIefunding
IS (when issueD 81. and new As = IN me
bid price. today we're
,ce ne ,so1 SHARES. including Atchison. 54?1;
a naitiP aaine eRa 1865
y. too, so,,thern. lO,eoo; Manhattan.
@o sSo HetSopoiltan Street Railway "a
z75: St. Paul. $40; sou1n s Union e Pa
S s;f;e S sSso: american Steel and Wire
es div. $50; Br sSaai Eapo National
sfeel 5.4oo: Peoples Gas, $3.50; sugar
1880.
,,oNry AND ExCHANGE.-Moneyo on
IN Mo 4as p erS cent; last loan at ! per
PRIME m sEshnnse P eaasdy viii
cent ,,..;-,nes IN bankers bills at s.. SoHs
for demand and ss asd f sss szes sasT
po o, i,,s 81 S1a4. SLY Silver certificates
G elfi u bar Silver co; Mexican do liars
ISa Government bonds weak: state
=