Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-04-19
REVIEW OF MARKETS
FINANCIAL AND COMMERCIAL
Stocks, Money, Exchange, Bonds. Grain,
Cotton, Provisions, Etc.

New York April 1S.-The uncertain
ties of the speculative situation were so
great to-day that operators in stocks
maintained Il heSitatng mood and re-
trained from active operations. Profess
sional traders found 1t difficult to in
duce any following either for an adj
vance or n decline. The street was full
Oh discussion regarding conditions in
the iron trade, upon which the move
ment of stocks seemed to hinge. There
were plenty of authorities who were
willing 10 be quoted in opposition to
the gloomy view expressed by the
chairman OF the American Steel and
Wire Company regarding the outlook
IN the trade. News of concessions In
prices of some lines in the steel trade.
however, seemed TO sustain his views.
or were perhaps the results of the ex-
preston of those views. The conflict
OF opinion brought 10 definite conclu-
sion either way. the whole speculative
situation remaining unsettled. Prices
in the general list started upward, en-
couraged by higher prices from London
and under impulse of antagonism to
the bear campaign, which is alleged TO
be at the bottom of the selling of iron
and steel stocks. Spectators. however,
lost confidence in their own views as
to the insiucerity of the unfnvorable
opinions expressed over the iron trade
outlook when they saw the iron and
steel stocks again manifeSting acute
depression. American Steel and Wire
sold n point below last night. 1t did not
get back above last nights price in the
subsequent trading and closed 3ls off.
The net loss of the preferred was
points. The other iron and steel stocks
were not so weak. There seems IL sort
OF speculative duel Waying in Steel and
Wire and Federal Steel. the latter stock
crossing the former and closing nearly
a point higher and at II net loss of
only 4.
When the renewed weakness of Steel
and Wire was perceived the opening
advances in the general list began to
be conceded. In one or two of the rail-
road stocks advances had reached over
a point, but they were very generally
wiped out. The market was extremely
Irregular for the rest of the day, the
New York fractions and some OF the
other specialties showing acute weak
ness. There was II period of strength
later III Sugar, General Electric and
some of the railroad stocks, but these
manoeuvres failed to attract any fol-
lowing or to dissipate the feeling of I'M
certainty. Net changes arc mostly
small and the closing was heavy and
sluggish.
The money market continued to work
easier. call loans dropping to 2ih per
cent. in the late dealings. The sub
Treasury is disbursing lnrge sums to
the market and the New York EN-
change at Chicago rose TO 10 cents dis
count to-day compared with 40 cents
on Monday, indicating relaxation of
interior demand for currency, s,r per-
haps a cessation of selling of stocks for
Chicago account London Is taking adj
vantage OF the lower interest rates here
to borrow money in this market.
The bond market was rather quiet
and irregular. Total sales, par value,
$3.50, coo.
United States new As advanced &c.
in the bid price. Total stock sales to-
day were 55l 800 shares
New York, April 1S.-Standard OIL,
5.4S1l5.46h.